This paper studies how software agents influence the market behavior ofhuman traders. Programmed traders with a passive arbitrage seekingstrategy are introduced in a double auction market experiment with humansubjects in the laboratory. As a treatment variable, the influence ofinformation on the...

Fairness is a strong concern as shown by dictator and ultimatum experiments. Efficiency, measured by the sum of individual payoffs, is a potentially competing concern in games such as the prisoners' dilemma. In our experiment participants can increase efficiency by gift giving. In the one-sided...

In an overlapping generations-experiment with multiple families participants caneither support their parents directly and thereby reduce their tax burden or hopefor tax-financed old age support. State productivity is captured by the factor withwhich total tax revenues are multiplied to determine...

The goal of this paper is to provide an overview on the Virtual Laboratory infrastructurefor online economic experiments. We summarize our experience gainedfrom performing several economic experiments on the Internet. The experimentswe have run range from electronic markets to individual...

In this paper we relate individual risk attitude as elicited by binary lotteriesand certainty equivalents to market behavior. By analyzing 26 independentmarkets with a total of 280 participants we show that binary lottery choicesand certainty equivalents are poorly correlated. Only lottery...

In diesem Beitrag lassen wir herkömmliche Kritikpunkte an der ökonomischen Neo-Klassik Revue passieren und untersuchen, inwieweit die heutige experimentelle Ökonomik diesen durch gesteigerte Realwissenschaften entgeht. Eine induktive Vorgehensweise, bei der im Labor Ergebnisse unter...

Economists usually treat human behavior as being determined by the shadow of the future, while most other social scientists point to the shadow of the past. This paper considers experimental evidence relevant to the controversy and tries to reconcile both explanations of human behavior with each...

This paper investigates (i) the robustness of hindsight bias in experimental assetmarkets, (ii) the time invariance of the different experimental risk elicitationmethods of certainty equivalents and binary lottery choices, and (iii) their correspondence.The results of our within-subjects...

We investigate the gender specific inter-temporal allocation behavior ofspouses with different deterministic life expectations in an experimentwhere the gender of one's partner is known. In each period of theirlife both partners propose a consumption level one of which is thenrandomly...

For the Euro 2000 Soccer Championships an experimental asset market was conducted, with traders buying and selling contracts on the winners of individual matches. Market-generated probabilites are compared to professional bet quotas, and factors that are responsible for the quality of the market...