This study investigates whether cooperation in an indefinitely repeated prisoner's dilemma is sensitive to the complexity of cooperative strategies. An experimental design which allows manipulations of the complexity of these strategies by making either the cooperate action or the defect action...

This paper revises pre-World War II current account data for thirteen countries by treating gold flows on a consistent basis. The standard historical data sources often fail to distinguish between monetary gold exports, which are capital-account credits, and nonmonetary gold exports, which are...

In a set of eBay auctions of Amazon.com gift certificates, 41.1% of winning prices exceed face value, which is an observable upper bound for rational bidding because Amazon.com sells certificates at face value. Alternative interpretations to bidding fever are explored.

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the...

It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a...