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knowledge. We test this result in a laboratory experiment. The data cannot confirm the predicted welfare dominance of private …
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The sealed-bid k-double auction mechanism for two-person bargaining under incomplete information can be extended by providing a bonus for both traders if, and only if, an agreement is reached. Brams and Kilgour (1996) proved that there is a unique level of bonus, namely, half the difference...
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theoretic analysis, the study of the spontaneous behavior of subjects in a game playing experiment, and the investigation of … strategies programmed by highly experienced subjects in a strategy experiment. The two different experimental approaches allow to …
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experiment. We find that subjects often use selective disclosure strategies, and this finding appears to be robust to changes in … the information structure, the mode of competition, and the degree of product differentiation. Moreover, in our experiment …
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