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We present an experimental test of a procedurally fair co-determination mechanism where group members reduce their value uncertainty before submitting bids for a joint project. The results suggest a relatively efficient mechanism, with unprofitable projects being largely rejected and profitable...
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Reducing Africa's dependence on Asian rice imports requires tailoring local rice products to food markets that are segmented by cultural heritage of ancient rice domestication and colonial heritage of more recent import substitution policies. Using experimental auctions, we examine quality...
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benefits of policy interventions. The paper reports the results of an experiment that combines induced value and home …-grown value elicitation procedures. Home-grown values are elicited for a public food policy. The experiment has two treatments … that differ in the elicitation technique: secondprice Vickrey auction and discrete choice experiment. For each technique …
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This paper presents the results of an experimental study of takeover auctions with toeholds. Consistent with the theory … premium function has an opposite slope than the theory predicts, which can be attributed both to risk aversion and subjects …' tendency to think of their bids in relative terms. Consistent with the theory we find no cross-bidder toehold effect, however …
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This paper analyzes whether the perception of traditional wine brings value to millennials. Based on survey data and experimental auctions (165 participants), this study identifies the main factors affecting this consumer groups’ willingness to pay for traditional wine through a Tobit model...
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