We design a donations vs. own money choice experiment and compare the results from three different treatments. In two of the treatments the pay-offs are hypothetical. In the first of these, a short cheap talk script was used and subjects were required to state their own preferences in this...

This paper studies the evolution of both characteristics of reciprocity - the willingness to reward friendly behavior and the willingness to punish hostile behavior. Firstly, preferences for rewarding as well as preferences for punishing can survive evolution provided individuals interact within...

Previous studies suggest that two otherwise robust 'anomalies' - preference reversals and disparities between buying and selling valuations - are eroded when respondents participate in repeated markets. We report an experiment which investigates whether this is true when factors neglected in...