This paper examines experimentally two common conjectures in the popular literature on financial markets: that they are swayed by emotion and that they behave like a 'crowd'. We find consistent evidence that deviations of prices from fundamental value depend on the emotion of excitement and on...

We collect data from symmetric and asymmetric coordination games with a focal point and vary the stake size. The data show that in symmetric games coordination on the label-salient strategy increases with stake size. By contrast, in asymmetric games the coordination rates do not vary with stake...

The underlying motivations for envy or related social preferences and their impact on agricultural innovations are examined by combining data from money burning experimental game and household survey from Ethiopia. In the first stage of the money burning experimental game, income inequality is...

This paper responds to the 'soft paternalist' argument that the findings of behavioural economics make traditional objections to paternalism incoherent. We show that there is a normatively significant sense in which, even if individuals lack coherent preferences, competitive markets are...

We propose a new type of cooperative game - a game in transition function (TF) form – as a means of representing social decision making procedures that is suitable for the analysis of rights. The TF form is a generalisation of the effectivity function (EF) form, and in particular it tells...

We devise a new experimental game by nesting a voluntary contributions mechanism in a broader spectrum of incentive schemes. With it, we study tensions between egalitarianism, equity concerns, self-interest, and the need for incentives. In a 2x2 design, subjects either vote on or exogenously...

This paper provides evidence for the role of conferences in generating visibility for academic work, using a ‘natural experiment’: the last-minute cancellation – due to ‘Hurricane Isaac’ – of the 2012 American Political Science Association (APSA) Annual...

Agricultural and other physically demanding sectors are important sources of growth in developing countries but prevalent diseases such as malaria adversely impact the productivity, labor supply, and occupational choice of workers in these sectors by reducing physical capacity. This study...

In Humean analyses of the emergence and stability of moral rules, ideas of justice and reciprocity originate in non-moral, conventional solutions to conflicts of interest in human interaction. This theory seems contrary to an empirical claim made by some developmental psychologists: that, from...