We present an overlapping generations model with two families who can guarantee old age support either by intra-family transfers from child to parent or via a tax-financed public pension system encompassing both families.We derive the individually and family-specific optimal decisions and...

We show that an environmental regulation such as a tax on pollution can act as a collusive device and induce stable cartelization in an oligopolistic polluting industry. We consider a dynamic game where pollution is allowed to accumulate into a stock over time and a cartel that includes all the...

In this paper we measure experienced guilt in a prisoner’s dilemma experiment with pre-play communication. We find that feelings of guilt only arise in the case of unilateral defection and that they are stronger when players have mutually agreed to cooperate. We also find that fining...

We report experimental results on exclusive dealing inspired by the literature on "naked exclusion". Our key findings are: First, exclusion of a more efficient entrant is a widespread phenomenon in lab markets. Second, allowing incumbents to discriminate between buyers increases exclusion rates...

Results are reported of a laboratory experiment aimed at examining whether strategic substitutability and strategic complementarity have an impact on the tendency to cooperate in two-player dominancesolvable games with a Pareto-inefficient Nash equilibrium.We find that there is significantly...

We examine an experimental gift exchange game in which the players can improve upon the unique no-gifts equilibrium through cooperative gift giving. The main feature of the study is that there are two different types of gift exchange, which we call simple and complex exchange, respectively....