69 datasets found

A well-known result by Vega-Redondo (1997) [18] implies that in symmetric Cournot oligopolies, imitation leads to the Walrasian outcome. We show that this result is not robust...

We use a large-scale internet experiment to explore how subjects learn to play against computers that are programmed to follow one of a number of standard learning algorithms....

Numerous psychological and economic experiments have shown that the exchange of promises greatly enhances cooperative behavior in experimental games. This paper seeks to test...

As illustrated by the famous Ellsberg paradox, many subjects prefer to bet on events with known rather than with unknown probabilities, i.e., they are ambiguity averse. In an...

This study extends a bilateral gift-exchange experiment by Clark et al. (2010). We investigate how the provision of either quantitative or qualitative information on the average...

Gneezy et al. (2003) offer a partial explanation for the wage gap between men and women. In an experiment they found that women react less to competitive incentives. The task...

We study reciprocity in the labor market context. To this end, we conducted a bilateral gift exchange experiment comparing behavior of subjects from five high-income OECD...

We analyze the gender wage gap in experimental markets. Women receive but do not request significantly lower wages than men. This hurts firms, as women react with low effort....

We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg's three-color urn. The procedure includes three design elements that (together) have...

Auctions often involve goods exhibiting a common-knowledge ex-post risk. In such auctions, precautionary bidding predicts that under expected utility, DARA bidders reduce their...

We study the role of accountability in situations where an agent makes risky decisions for a principal. We observe that in the absence of accountability, agents choose less risk...

Experimental and field evidence indicate a positive link between social preferences and age, most strikingly between the elderly and young adults. However, it is possible that...

In oligopoly, imitating the most successful competitor yields very competitive outcomes. This theoretical prediction has been confirmed experimentally by a number of studies. A...

Many decisions under uncertainty are delegated to professionals, such as financial advisors or medical doctors, requiring them to assess the risk attitudes of their clients or...

We probe the pattern of ambiguity aversion for moderate-likelihood gain prospects, and ambiguity seeking for low-likelihood gain prospects, if people make decisions not for...

I experimentally investigate the hypothesis that many people avoid lying even in a situation where doing so would result in a Pareto improvement. Replicating (Erat and Gneezy,...

Literature on fairness preferences distinguishes between outcome fairness, concerning the final allocation of payoffs, and process fairness, concerning the expected allocation...

We ran experiments that gave subjects a straight-forward and simple opportunity to hedge away ambiguity in an Ellsberg-style experiment. Subjects had to make bets on the...

Can performance bonuses increase the likelihood that managers coerce their subordinates into exerting high levels of effort when doing so promotes neither efficiency nor equity?...

Assuming universal ambiguity aversion, an extensive theoretical literature studies how ambiguity can account for market anomalies from the perspective of expected utility-based...