Asset management often involves a conflict of interests between investors and fund managers. A main goal of financial regulators is to identify and mitigate this conflict. This article focuses on measures that may foster protection of investors' interests. In an experiment capturing the...

Asset management often involves a conflict of interests between investors and fund managers. A main goal of financial regulators is to identify and mitigate this conflict. This article focuses on measures that may foster protection of investors' interests. In an experiment capturing the...

An often-replicated result in the experimental literature on social dilemmas is that a large share of subjects reveal conditionally cooperative preferences. Cooperation generated by this type of preferences is notoriously unstable, as individuals reduce their contributions to the public good in...

We report three repetitions of Falk and Kosfeld's (2006) low and medium control treatmentswith 364 subjects. Each repetition employs a sample drawn from a standard subject pool ofstudents and demographics vary across samples. Our results largely conict with those of theoriginal study. We mainly...

This note reports a replication study of Falk and Kosfeld’s (2006) medium control treatment.In the experimental game, an agent has an endowment of 120 experimental currency units anddecides how much to transfer to a principal. For every unit that the agent gives up, the principalreceives two...

We use a two-person public goods experiment to distinguish betweene±ciency and fairness as possible motivations for cooperative behavior.Asymmetric marginal per capita returns allow only the high-productivityplayer to increase group payo®s when contributing positive amounts....