In this paper, we experimentally test skewness preferences at the individual level. Several prospects that can be ordered with respect to the third-degree stochastic dominance criterion are ranked by the participants of the experiment. We find that the skewness of a distribution has a...

Purpose: This study aims to investigate – theoretically and empirically – if call auctions incorporate asymmetric information into prices. Design/methodology/approach: First, this study introduces a new model of price formation in a call auction with insider information. In this call...

We analyze the impact of institutional and cultural factors on the supply side of open source software (OSS). OSS is a privately provided public good: it is marked by free access to the software and its source code, and is developed in a public, collaborative manner by thousands of volunteers as...