Microfinance programmes provide poor people with small loans given to jointly liable self-selected groups. Follow-up loans provide incentives to repay. In an experiment we investigate the influence of those features on strategic default. Each group member invests in an individual risky project,...

We study the relation between the number of firms and price-cost margins under price competition with uncertainty about competitors' costs. We present results of an experiment in which two, three and four identical firms repeatedly interact in this environment. In line with the theoretical...

We study the relation between the number of firms and market power in experimental oligopolies. Price competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We present results of an experiment in which two, three and four identical firms repeatedly...

This paper shows how to maximize revenue when a contest is noisy. We consider a case where two or more contestants bid for a prize in a stochastic contest with proportional probabilities, where all bidders value the prize equally. We show that by fixing the number of tickets, thus setting a...

In the last two decades, experimental papers on distributive justice have abounded. Two main results have been replicated. Firstly, there is a multiplicity of fairness rules. Secondly, fairness decisions differ depending on the context. This paper studies individual consistency in the use of...

We propose a new experimental design to examine the effects of outcomes and intentions on fair behavior. The results indicate that costs matter for the perceived kindness of an action, whereas intentionality does not. In addition, the effects of costs are explained entirely by distributional...