This paper provides an economic evaluation of certification and ecolabeling as an important policy instrument for creating markets for biodiversity. In the paper we conclude that the success of a policy instrument for creating markets for biodiversity depends on the nature crucial factors,...

We analyze the BBC TV game show 'The Weakest Link', using data from 77 episodes, covering 13,380 questions. We focus on the banking decision, where a contestant chooses to secure an amount of money for the eventual winner, or to risk it on a general knowledge question. In the latter case, should...

Incentive theory has paid limited attention to workers’ identities. In this paper, we conduct experiments exploring the interaction between identity and incentives. We construct workgroups which are either homogeneous or heterogeneous in members' identities and examine their productivity under...

We experimentally investigate whether people generally perceive inheritance as effort-induced or luck-induced. By randomly matched two strangers in a lab setting, we test whether the sources of opportunity handed down from the 'testator' subjects determines later redistributive decisions among...

We compare the performance of financial professionals (CFAs) with university students in four financial forecasting tasks ranging from simple lab prediction tasks to longitudinal field tasks. Although students and professionals performed similarly in the artificial forecasting tasks, their...

We design an experiment to study the effects of dark trading on incentives to acquire costly information, price efficiency, market liquidity, and investors' earnings in a financial market. When the information precision is high, adding a dark pool alongside a lit exchange encourages information...

Public engagement in e⁄orts to persuade market participants to behave in a socially responsible manner is pervasive but little is known about its e⁄ects on behavior. We experimentally investigate the role of third-parties e⁄orts to persuade buyers to choose a socially responsible product...