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This in-class duopoly game experiment allows students to learn about strategies and equilibria. It is appropriate for …
Persistent link: https://www.econbiz.de/10005752714
"Winner-Take-All"-markets, i.e. markets in which the relative and not the absolute performance is decisive, have gained in importance. Such markets have a tendency to provoke inefficiently many entries. We investigate the functioning of such markets with the help of experiments and show that...
Persistent link: https://www.econbiz.de/10005585626
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...
Persistent link: https://www.econbiz.de/10005588009
tend to support increased public spending on social programs. In this study, we put conventional wisdom to the test by … goods game and the bilateral trust game. First, we test whether Democrats or liberals are more likely to contribute to a … group account when such actions are contrary to self-interest. Next, we test whether Democrats and liberals choose to trust …
Persistent link: https://www.econbiz.de/10005588177
We study decisions of subjects who are given an incentive to solve dynamic optimization problems with the structure of a single-agent, one-sector, closed economy macroeconomic model. The decision task involves a sequence of choices of consumption and investment levels. Treatment variables...
Persistent link: https://www.econbiz.de/10005597889
Persistent link: https://www.econbiz.de/10005598510
Instructors can use a computerized experiment to introduce students to imperfect competition in courses on introductory … thinking in general, the experiment serves to demonstrate that profits of a firm fall as the number of competitors is increased … in a market and that firms enter profitable markets. The authors have used the experiment in undergraduate classes on …
Persistent link: https://www.econbiz.de/10005600596
We analyze the effects of ostracism on cooperation in a linear public good experiment. Our results show that …
Persistent link: https://www.econbiz.de/10005612385
According to theory a pure meritocracy is efficient because individual members are competitively rewarded according to their individual contributions to society. However, purely individually based meritocracies seldom occur. We introduce a new model of social production called “team-based...
Persistent link: https://www.econbiz.de/10005616844
-strategy equilibrium solutions to the two auctions, and then test them in a sequence of experiments that vary the number of bidders and …
Persistent link: https://www.econbiz.de/10005619420