This paper is empirical study, using new experimental data, of repeated game strategies in trust games; its goal is to identify strategies that people use in repeated games. We develop a strategy inference method that maps observed actions to a set of best fitting unobserved repeated game...

This paper introduces a non-parametric binary classification tree approach to inferring unobserved strategies from the observed actions of economic agents. The strategies are in the form of possibly nested if-then statements. We apply our approach to experimental data from the repeated ultimatum...

We infer unobserved strategies from the observed actions of buyers in posted-offer market experiments to evaluate their effectiveness against a monopolist. While the strategies of one-quarter of the buyers in our experiments correspond to the game-theoretic prediction of passive price-taking,...

Although it is well known that trust is an important component of the fulfilment of incomplete contracts, less is known regarding how robust it is to past experiences.

Tournaments are widely used to assign bonuses and determine promotions because of the link between relative performance and rewards. However, performing relatively well (poorly) may also yield psychological benefits (pain). This may also stimulate effort. Through a real-effort artefactual field...

In this paper, we use an economics decision-making experiment to test a key assumption underpinning the efficacy of price-level targeting relative to inflation targeting for business cycle stabilization and mitigating the effects of the zero lower bound on nominal interest rates. In particular,...