At least since Adam Smith, economists have recognized the beneficial effects of competition in markets. The possible positive influence of competition between teams on the free rider problem within teams is a more recent discovery. It is important because the free rider problem exists to some...

In this paper we present a mechanism to elicit and aggregate dispersed information. Our mechanism relies on the aggregation of intervals elicited using an interval scoring rule. We test our mechanism by eliciting beliefs about the termination times of a stochastic process in an experimental...

In the model, a group of investors are invited to participate to a high-yield collective project. The project succeeds only if a minimum participation rate is reached. Before taking their decision, investors receive a vague statement about the outcome of a past investment decision. If investors...

This study investigates whether individuals engage in prosocial behavior when it requires their time but not money. In a lab experiment with rigorous anonymity arrangements, subjects receive their payoff beforehand and can engage in a tedious task to increase the earnings of a passive recipient....

In this paper we focus on the impact of involuntary unemployment on wage formation using experimental evidence. We use the well-known Gift Exchange Game to analyze players' interaction in a simplified job market. The aim of this paper is twofold: on the one hand, we are interested in analyzing...

This paper reports the results of experiments designed to isolate the impact of various combinations of the following motives on trustworthiness: (i) unconditional other-regarding preferences - like altruism, inequality aversion, quasi-maximin, etc.; (ii) deal-responsiveness - reacting to...

In this paper, we analyze the link between effort and preferences for redistribution. If individ-uals hold standard preferences, those with higher ability exert more effort. Higher effort leads to a higher income. Individuals with a higher income oppose redistribution. Yet, under non-standard...

We present a model in which an outside bank and a default penalty support the value of fiat money, and experimental evidence that the theoretical predictions about the behavior of such economies, based on the Fisher-condition, work reasonably well in a laboratory setting. The import of this...

In laboratory asset markets, subjects trade shares of a firm whose profits in a linked product market determine dividends. Treatments vary whether dividend information is revealed once per period or in real-time and whether the firm is controlled by a profit-maximizing robot or human subject....

Az elmúlt évtizedekben számos tanulmány mutatott rá, hogy némely helyzetben az önérdekkövetésnél jóval erősebb motivációt jelentenek a mások jólétét figyelembe vevő preferenciák. E preferenciák - például a méltányosság, altruizmus és reciprocitás - jó néhány...