Many laboratory experiments show that people are often altruistic or care for fairness. We present data that reveal a darker side of human nature. We introduce the joy-of-destruction game. Two players each receive an endowment and simultaneously decide on how much of the other player’s...

This paper reports on RatImage, a toolbox specifically developed to simplify the programming of software used in computerized human behavior experiments. RatImage contains Borland Turbo Pascal constans, variables, functions, and procedures which, when used, relieve programmers of many tedious...

Following extensive empirical evidence about ‘market anomalies’ and overconfidence, the analysis of financial markets with agents overconfident about the precision of their private information has received a lot of attention. All these models consider agents trading for their own account. In...

The use of screening contracts is a common approach to solve supply chain coordination problems under asymmetric information. One major assumption in this context is that subjects will rather use their private information strategically than to reveal them truthfully, if they do not get any...

The design of markets has become a major issue due to the capability of online operators to implement almost any set of market rules overnight. With this study we contribute to the literature of market design by presenting a theoretical and experimental analysis of sudden termination auctions....

A new line of theoretical and empirical literature emphasizes the pivotal role of fair institutions for growth. We present a model, a laboratory experiment, and a simple cross-country regression supporting this view. We model an economy with an unequal distribution of property rights, in which...