To analyze the effectiveness of punishment in inducing regulatory compliance, we modify a standard public goods experiment to include a financial penalty for free riding. The design allows us to vary both punishment probability and severity. We introduce the punishment mechanism in both a...

This paper assesses the effectiveness of different state hazardous waste regulations and policies in promoting compliance using data for 8000 facilities across the United States. Because data on compliance is available only if a facility is inspected, the analysis uses a censored bivariate...

When a series of individuals with private information announce public predictions, initial conformity can create an 'information cascade' in which later predictions match the early announcements. This paper reports an experiment in which private signals are draws from an unobserved urn. Subjects...

Error rates are estimated using data from "information cascade" experiments. The econometric estimation assumes a logistic error structure and error rates are compared across three experimental treatments that differ only with respect to payoff structure. In a "no payoff" treatment subjects...