In this work, we conducted a laboratory experiment in order to test the findings of a theoretical environmental enforcement model played as a strategic game where the firm’s behavior is influenced by the course of actions discretionally undertaken by both the U.S. Environmental Protection...

Over recent years, parking policy has become a key element of urban transport policy and planning in many countries. The need of urban mobility, mostly guaranteed by private cars, in facts, impacts on the policy and regulations of parking areas. The issue is particularly relevant for work...

This paper provides an experimental test of the traveller's dilemma using individual and group data. Our investigation aims to address three fundamental research questions, which can be summarised as follows: (i) claims are affected by the size of the penalty/reward; (ii) individual decisions...

This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results indicate that subjects consider the probability of loss (loss size) when they make buying decisions (paying decisions). Most individuals are risk averse with no specific threshold...

In this paper we analyse the empirical performance of several preference functionals using individual and group data. Our investigation aims to address two fundamental questions that have, until now, not been addressed in literature. Specifically, we intend to assess if there exists a risky...

In the 40's and early 50''s two decision theories were proposed and have dominated the scene of the fascinating field of decision-making. Since 1944 - when von Neumann and Morgenstern showed that if preferences are consistent with a set of axioms then it is possible to represent these...

In this paper we analyze the role played by the tie-breaking assumptions in Banerjee’s model of herd behavior. Changing one assumption we obtain three important results: players’ strategies are parameter dependent; an incorrect herd could be reversed; a correct herd is irreversible.

There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects’ preferences on the basis of some elicitation method. The present paper performs a similar analysis in order to compare them. Since pricing data lead in many cases to some...

There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects' preferences on the basis of some elicitation method. The present paper performs a similar analysis in order to compare them. Since pricing data lead in many cases to some...