Reinhard Selten and Thorsten Chmura (2008) recently reported laboratory results for completely mixed 2 x 2 games used to compare Nash equilibrium with four other stationary concepts: quantal response equilibrium, action-sampling equilibrium, payoff-sampling equilibrium, and impulse balance...

In clock games, agents receive differently-timed private signals when an asset value is above its fundamental. The price crashes to the fundamental when K of N agents have decided to sell. If selling decisions are private, bubbles can be sustained because people delay selling, after receiving...

This paper compares the patterns of income transfers within village communities in the north and south of Vietnam by analyzing household survey and experimental data. The results of household data analysis show private transfers flow from high-income households to low-income households in the...

This paper addresses a recent criticism of experimental economics, by Levitt and List [2007ab, 2008], that lab experimental findings may not generalize to field settings. We argue against the criticism in three ways. First, experimental economics seeks to establish a general theory linking...

Film studios occasionally withhold movies from critics before their release. These cold openings provide a natural setting to apply laboratory-developed models of limited strategic thinking to the field. In a set of 1303 widely released movies, cold opening is correlated with a 10-30 percent...

We conduct a study in which subjects trade stocks in an experimental market while we measure their brain activity using functional magnetic resonance imaging. All of the subjects trade in a suboptimal way. We use the neural data to test a “realization utility” explanation for their behavior....

We report results from an exploratory study using eye-tracking recording of information acquisition by players in a game theoretic learning paradigm. Eye-tracking is used to observe what information subjects look at in 4x4 normal-form games; the eye-tracking results favor sophisticated learning...

Experimental games turned out to be remarkably productive tools for examining the nature of social preferences and social norms. This paper describes the methods and tools of experimental gametheory and provides a selection of games that have been useful. We also discuss the role of evolutionary...

Experimental games turned out to be remarkably productive tools for examining the nature of social preferences and social norms. This paper describes the methods and tools of experimental gametheory and provides a selection of games that have been useful. We also discuss the role of evolutionary...