In this paper, we analyze sequential bankruptcy problems, which generalize bankruptcy problems. They contain the problems of sharing water in a transboundary river and of allocating expedition rewards in projects. We provide three mechanisms for generalizing rules for bankruptcy problems to...

We conduct 3-person bargaining experiments in which the surplus being divided is produced by completing a prior task. Using a Baron-Ferejohn framework, we investigate how differences in contributions to production affect bargaining under different decision rules. Under unanimity rule, all...

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

We propose and experimentally test a mechanism for a class of principal-agent problems in which agents can observe each others' efforts. In this mechanism each player costlessly assigns a share of the pie to each of the other players, after observing their contributions, and the final...

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

This paper axiomatically studies bankruptcy problems with nontransferable utility by adequately generalizing and analyzing properties for bankruptcy rules. In particular, we discuss several consistency notions and introduce the class of parametric bankruptcy rules. Moreover, we introduce the...

What is the role of intuitive versus deliberative cognitive processing in human cooperation? The Social Heuristics Hypothesis (SHH) stipulates that (i) intuition favors behaviors that are typically advantageous (i.e. long-run payoff-maximizing), and that for most people cooperation is typically...

We propose and experimentally test a mechanism for a class of principal-agent problems in which agents can observe each others' efforts. In this mechanism, each player costlessly assigns a share of the pie to each of the other players, after observing their contributions, and the final...