Highlights the theory of competition advanced by da Empoli in the late 1920s. The main point is the existence of discontinuities in industrial concerns. This leads to the possibility that prices exceed marginal costs and depend also on ultramarginal costs, a new concept elaborated by da Empoli....

We offer new and clean evidence that social interactions impact on individuals’ choices. In an experimental trust game we study whether and how trustor's behaviour is affected by social influence of other trustors’ choices over time. We account for three important factors of trustors’...

While peer punishment has been shown to increase group cooperation, there is open debate on how cooperative norms can emerge and on what motives drive individuals to punish. In a public good experiment we compared alternative punishment institutions and found (1) higher cooperation levels under...

Highlights the theory of competition advanced by da Empoli in the late 1920s. The main point is the existence of discontinuities in industrial concerns. This leads to the possibility that prices exceed marginal costs and depend also on ultramarginal costs, a new concept elaborated by da Empoli....

We study a market in which goods are produced under low marginal costs with a poor degree of substitutability among products. In this environment we ran an experiment to explain why prices are interdependent even when preferences are independent. We compare our results to previous theoretical...