Showing 1 - 4 of 4
Persistent link: https://www.econbiz.de/10012270468
Institutions may rely on fundamental principles, e.g., of legal philosophy, but may also have evolved according to institutional fitness, as gauged by a society's well-being. In our stylized framework where two fundamental principles, equality and efficiency, conflict with each other, one of the...
Persistent link: https://www.econbiz.de/10014426703
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...
Persistent link: https://www.econbiz.de/10015408229
This paper investigates how the possibility of affecting group composition combined with the possibility of repeated interaction impacts cooperation within groups and surplus distribution. We developed and tested experimentally a Surplus Allocation Game where cooperation of four agents is needed...
Persistent link: https://www.econbiz.de/10012493275