We consider expected profit maximizing mechanisms for a principal who has to allocate a group of agents among a number of projects, assuming that the principal has incomplete information about each agent's ability type, and the agents follow the Bayes-Nash or the dominant strategy equilibrium...

In many collective action settings, such as decisions on public education or climate change mitigation, actions of a group have welfare consequences for themselves as well as their followers. We conduct laboratory experiments with two-stage predecessor-follower prisoners' dilemma and...

We explain laboratory behavior in the dictator, ultimatum and trust games based on two cultural dimensions adopted from social and cultural anthropology: grid and group, which translate into reciprocity and altruism, respectively, in such games. Altruism and reciprocity characteristics are...

Antitrust exemptions granted to businesses under extenuating circumstances are often justified by the argument that they benefit the public by helping producers adjust to otherwise difficult economic circumstances. Such exemptions may allow firms to coordinate their capacities, as was the case...

Antitrust exemptions granted to businesses under extenuating circumstances are often justified by the argument that they benefit the public by helping producers adjust to otherwise difficult economic circumstances. Such exemptions may allow firms to coordinate their capacities, as was the case...

We consider payment schemes in experiments that model infinite-horizon games by using random termination. We compare paying subjects cumulatively for all periods of the game; with paying subjects for the last period only; with paying for one of the periods, chosen randomly. Theoretically,...