Using the implementation of the "Guidelines for Establishing the Green Financial System" (GEGFS) released in China in 2016 as a natural experiment, we adopt the difference-in-differences (DID) method to explore the influence of a green finance (GF) policy on the green transition of enterprises...

This study explores the specific effects between green leading institutions (GLIs) and green innovation (GI) by Chinese listed firms from the perspective of legitimacy and efficiency. The results show that GLIs can significantly improve GI, and the establishment of GLIs is more in line with the...

A meritocratic fairness ideal is generally believed to regard income inequality as fair if it stems from performance differentials rather than luck. In this study, we present experimental evidence showing that merit judgments are shaped by the source of performance differentials while holding...

In a social network in which friendly and rival bilateral links can be formed, how do alliances between decision-makers form, and what determines whether a conflict will arise? We study a network formation game between ex-ante symmetric players in the laboratory to examine the dynamics of...

Using experimental methods, this paper investigates the limits of communication and leadership in aiding group coordination in a minimum effort game. Choosing the highest effort is the payoff dominant Nash equilibrium in this game, and communication and leadership are expected to help in...

We study escalation and aggression in an experimental first-strike game in which two participants play multiple rounds of a money-earning task. In each round, both players can spend money to accumulate weapons. The player with more weapons can spend money to strike against the other player,...

Communication has been regarded as one of the most effective devices in promoting team cooperation. But asymmetric communication sometimes breeds collusion and is detrimental to team efficiency. Here, we present experimental evidence showing that excluding one member from team communication...

Individuals may respond differently to their own past performance than to their teammates' performance in a multi-battle competition. Using field data from professional squash team tournaments, we show that while previous individual success begets more success, teammates' past performance has...

In a social network in which friendly and rival bilateral links can be formed, how do alliances between decision-makers form, and what determines whether a conflict will arise? We study a network formation game between ex-ante symmetric players in the laboratory to examine the dynamics of...