In many firms, production requires the division of staff into teams. If only team performance is observable, moral hazard in teams is inevitable. This variant of moral hazard can be overcome or exacerbated by the interpersonal relationships among team members. I investigate how the division of...

Studies in the social capital literature have documented two stylised facts: first, a decline in measures of social participation has occurred in many OECD countries. Second, and more recently, the success of social networking sites (SNSs) has resulted in a steep rise in online social...

In this paper, we first replicated Harrison et al. (2012). Then, we studied if the group’s size has an impact on group’s risk aversion. In line with Harrison et al. (2012), our results confirm that no significant differences occur between individuals and groups risk aversion in three-person...

The context of European Union farms is markedly diverse. This is verified when, for example, several dimensions of the agricultural sector are analyzed, considering variables related with economic, social, or environmental dynamics. Indeed, frequently the farms in EU countries present relevant...

Abstract Recent developments in identifying economic and social phenomena within the theory and laws of physics do not provide a sufficient basis of information for economists. In this article, an interdisciplinary analysis in microeconomics, is proposed to overcome this limit by establishing a...

Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. We also...

How agents assess the (in-)tangible externalities that others might impose on them can strongly influence strategic interaction. This study explores mechanism design for agents whose externality assessments and private payoffs, exclusive of externalities, are all subject to asymmetric...

Combinatorial auctions, in particular core-selecting auctions, have increasingly attracted the attention of academics and practitioners. We experimentally analyze core-selecting auctions under incomplete information and find that they perform better than the Vickrey auction. The proportions of...