In a hold-up experiment designed to test theoretical predictions following from Hart (1995) and deMeza/Lockwood (1998) regarding investment behavior Sonnemans et al. (2001) (SOS) find only a partial confirmation of theory. According to SOS these deviations from standard theory can be explained...

In a hold-up experiment designed to test theoretical predictions following from Hart and deMeza and Lockwood regarding investment behavior, Sonnemans, Oosterbeek and Sloof (SOS) find only a partial confirmation of theory. According to SOS these deviations from standard theory can be explained by...

Der Governancekosten- und der Property-Rights-Ansatz haben sich als Erklärungsmuster der strategischen Entscheidung über Kaufen oder Selbermachen im ökonomischen Mainstream auf breiter Front durchgesetzt. Allerdings sprechen empirische Befunde und theoretische Überlegungen dafür, diese...

We conducted six treatments of a standard moral hazard experiment with hidden action. All treatments had identical Nash equilibria. However, the behavior in all treatments and periods was inconsistent with established agency theory (Nash equilibrium). In the early periods of the experiment,...