A large body of literature concludes a negative association between ethnic diversity and pro-social behavior. Inspired by the works suggesting that the costly punishment would sustain the contribution level in public goods experiment, we compare the economic behavior of Mongolian- and...

This paper reviews the recent development and new findings of the literature on learning to forecast experiments (LtFEs). In general, the stylized finding in the typical LtFEs, namely the rapid convergence to the rational expectations equilibrium (REE) in negative feedback markets and persistent...

Does the ability to ‘read the market’ affect equilibrium formation in asset markets? To answer this question, we conducted pre-registered learning to forecast experiments with market groups composed of either subjects with high or low Theory of Mind (ToM) capabilities, elicited via the eye...

In this paper we want to analyze the internal divisional structure within an organi-zation in the framework of incomplete contract theory. We use the framework of Aghionand Tirole (1997) and define the managerial control structure as sequence of search.A key feature of this paper which...

This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in three treatments where subjects (1) submit a price forecast only, (2) choose quantity to buy/sell and (3) perform both tasks. We find deviation of the market price from the...