Showing 1 - 7 of 7
The prevailing labour market models assume that minimum wages do not affect the labour supply schedule. We challenge this view in this paper by showing experimentally that minimum wages have significant and lasting effects on subjects’ reservation wages. The temporary introduction of a minimum...
Persistent link: https://www.econbiz.de/10005124189
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10009353485
. However, the empirical basis of this research relies to a large extent on experiments that do not provide anonymity between … engage in seemingly other-regarding behavior. If this were the case, these experiments would overestimate the importance of …
Persistent link: https://www.econbiz.de/10010577246
In this paper we study the role of incomplete ex ante contracts for ex post trade. Previous experimental evidence indicates that a contract provides a reference point for entitlements when the terms are negotiated in a competitive market. We show that this finding no longer holds when the terms...
Persistent link: https://www.econbiz.de/10004992789
among a substantial share of the population into account. Theory shows and experiments confirm that, even if fairness … incompleteness and relational nature of most employment contracts and (b) the existence of reference-dependent fairness concerns … concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and …
Persistent link: https://www.econbiz.de/10008765247
This paper reports evidence from a city-wide field experiment on trust. About 1000 inhabitants of Zurich take part in a trust experiment, in which first movers can condition their investments on the residential districts of second movers. First movers differentiate their investments...
Persistent link: https://www.econbiz.de/10010636475
phenomena. However, the empirical foundation of social preferences is largely based on laboratory experiments with self …-selected students as participants. This is potentially problematic as students participating in experiments may behave systematically … experiments with student samples misrepresent the importance of social preferences. Our first study shows that students who …
Persistent link: https://www.econbiz.de/10008642878