Bidding challenges learning theories since experiences for the same bid vary stochastically: the same choice can result in a gain or a loss. In such an environment the question arises how the nearly universally documented phenomenon of loss aversion affects the adaptive dynamics. We analyze the...

A simple two-person distribution game similar to the ultimatum game is introduced. However, unlike the standard ultimatum game, responders can determine the payoff for the proposer in case of rejection. Therefore, they can express their concerns in monetary quantities. The experimental data are...

On an otherwise symmetric oligopoly market with stochastic demands for heterogeneous products firms can either hire an employee or partner or buy the required labor input on the labor market. Whereas the wage of hired labor does not depend in the realization of stochastic demand, the price of...

Due to the shadow of the future, exchange and the division of labor can be self-organizing on a small scale while it seems impossible for large interaction systems. The paper indicates that the survival conditions for trustworthiness can be met even in large interaction systems and large markets...

This paper analyses vertical cross-shareholding, that is, the mutual holding of a minority of shares between vertically related firms. We investigate the conditions under which cross-shareholding improves efficiency. First, we explore the issue in a game-theoretic model and find that...

We study the influence of gender on economic decision making in a two-person bargaining game. By testing hypotheses derived from evolutionary psychology and social role theory, we find that (1) gender per se has no significant effect on behavior, whereas (2) gender pairing systematically affects...

If the (un)trustworthy are rare, people will talk about them, making their detection more reliable and / or less costly. When, however, both types appear in large numbers, detecting (un)trustworthiness will be considerably more difficult and possibly too costly. Based on Güth and Kliemt (2000)...

Zusammenfassung: In diesem Beitrag lassen wir herkömmliche Kritikpunkte an der ökonomischen Neo-Klassik Revue passieren und untersuchen, inwieweit die heutige experimentelle Ökonomik diesen durch gesteigerte Realwissenschaftlichkeit entgeht. Eine induktive Vorgehensweise, bei der im Labor...

For the Euro 2000 Soccer Championships an experimental asset market was conducted, with traders buying and selling contracts on the winners of individual matches. Market-generated probabilities are compared to professional bet quotas, and factors that are responsible for the quality of the...

Two firms, each consisting of a team with the owner and just one employee, compete on the labor market with free labor mobility. After observing the investment decisions by firm owners their employees can engage in costly training, thus increasing their general and firm-specific productivity,...