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A Behavioral Approach to Learning in Economics - Towards an Economic Theory of Contingent Learning

Slembeck, Tilman - EconWPA - 1999

In economics, adjustment of behavior has traditionally been treated as a "black box." Recent approaches that focus on learning behavior try to model, test, and simulate specific adjustment mechanisms in specific environments (mostly in games). Results often critically depend on distinctive...

Persistent link: https://www.econbiz.de/10005135048

Is observed other-regarding behavior always genuine?

Matthey, Astrid; Regner, Tobias - Wirtschaftswissenschaftliche Fakultät, … - 2007

We investigate to what extent genuine social preferences can explain observed other-regarding behavior. In a social dilemma situation (a dictator game variant), people can choose whether to learn about the consequences of their choice for the receiver. We ï¬nd that a majority of the people...

Persistent link: https://www.econbiz.de/10005090540

One, Two, (Three), Infinity: Newspaper and Lab Beauty-Contest Experiments

Bosch-Domenech, Antoni - The Field Experiments Website - 2002

-contest experiments run in newspapers in UK, Spain, and Germany and find stable patterns of behavior across them, despite the … uncontrollability of these experiments. These results are then compared with lab experiments involving undergraduates and game theorists … empirical power of experiments run with large subject-pools, and open the door for more experimental work performed on the rich …

Persistent link: https://www.econbiz.de/10005685478

A Bargaining Experiment to Motivate Discussion on Fairness

Dickinson, David L. - In: Journal of Economic Education 33 (2002) 2, pp. 136-151

The author presents a classroom version of the popular research game called the Ultimatum Game. Researchers are placing growing importance on how fairness affects behavior, and this experiment provides a useful, fun, and engaging way in which a day or two of class time can be spent on the topic....

Persistent link: https://www.econbiz.de/10005405170

A comparison of conventional, final offer, and combined arbitration for dispute resolution

Dickinson, David - Department of Applied Economics, Utah State University

This paper presents results from a controlled laboratory study of bargaining behavior and dispute rates under three types of arbitration procedures. Two of these—conventional and final-offer arbitration—are commonly used in practice, while an innovative procedure called “Combined...

Persistent link: https://www.econbiz.de/10005426923

Dispute resolution with combined arbitration

Dickinson, David - Department of Applied Economics, Utah State University

Binding arbitration is a common method of alternative dispute resolution used in resolving labor disputes. Two different forms of binding arbitration dominate in practice: conventional arbitration (CA) and final offer arbitration (FOA). In CA, the arbitrator is allowed to choose any settlement...

Persistent link: https://www.econbiz.de/10005426998

Bidding Behavior in the Price is Right Game: an Experimental Study.

Healy, P.; Noussair, C. - Krannert School of Management, Purdue University - 2000

In this paper, we present the design and the results of an experiment in which subjects participate in a bidding game identical to the one seen on the television game show "The Price is Right". Four players make sequential guesses about the price of an item, and the player whose guess is closest...

Persistent link: https://www.econbiz.de/10005739814

Fairness and Incentives in a Multi-Task Principal-Agent Model

Fehr, Ernst; Schmidt, Klaus M. - Institut für Volkswirtschaftslehre, …

This paper reports on a two-task principal-agent experiment in which only one task is contractible. The principal can either offer a piece-rate contract or a (voluntary) bonus to the agent. Bonus contracts strongly outperform piece rate contracts. Many principals reward high efforts on both...

Persistent link: https://www.econbiz.de/10005585634

Theories of Fairness and Reciprocity

Fehr, Ernst; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2001

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...

Persistent link: https://www.econbiz.de/10005649789

The Economics of Fairness, Reciprocity and Altruism – Experimental Evidence and New Theories

Fehr, Ernst; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2005

This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.

Persistent link: https://www.econbiz.de/10005649793