This study examines individual and group behavior in a linear appropriation game setting. Subjects make decisions from a menu of eight games, without feedback. Four treatment conditions vary the magnitude of the opportunity cost of conservation, including symmetric and asymmetric treatments. A...

Theories of industrial organization (IO) are tested in the laboratory more and more often. The example we consider throughout the paper is oligopoly theory, specifically, the Cournot and the Stackelberg model of duopolistic quantity competition with homogeneous products. These models have often...

Weizsäcker (2010) estimates the payoff of actions to test rational expectations and to measure the success of social learning in information cascade experiments. He concludes that participants perform poorly when learning from others and that rational expectations are violated. We show that his...

We investigate whether experimental participants follow their private information and contradict herds in situations where it is empirically optimal to do so. We consider two sequences of players, an observed and an unobserved sequence. Observed players sequentially predict which of two options...

Assuming individuals rationally decide whether to participate or not to participate in lab experiments, we hypothesize several non-representative biases in the characteristics of lab participants. We test the hypotheses by first collecting survey and experimental data on a typical recruitment...

We compare individual with collective contracts using variations of a repeated gift- exchange game. Firms consist of one employer and three workers. In the individual variation (I) different workers can receive separate wages. In the collective variation (C) workers receive the same wage. I and...

Abstract: This paper compares the behavior of subjects' uncertainty in different monetary policy environments when forecasting inflation in the laboratory. We find that inflation targeting produces lower uncertainty and higher accuracy of interval forecasts than inflation forecast targeting. We...