The objective of this paper is to study the dynamics of the wealth distribution over the path of economic development. More specifically, we are interested in distinguishing between changes which seem to be country specific and characteristics shared by all countries. A historical account of the...

Systematic information on household financial asset holdings in developing countries is very sparse; we review some available data and current policy debates. Although financial asset holdings by households are highly concentrated, deeper financial systems are correlated with improved income...

A series of experiments compares bargaining behavior under three different settings: no arbitration, conventional and final offer arbitration. Under no arbitration disputes with zero payoffs were around 10%, while the pie was equally split in less than half of the cases. Under conventional...

Several division rules have been proposed in the literature regarding how anarbiter should divide a bankrupt estate. Different rules satisfy different sets ofaxioms, but all rules satisfy claims boundedness which requires that no contributorbe given more than her initial contribution. This paper...

In a large scale newspaper experiment 5,132 readers of the German weekly, Die Zeit, participated in a three-person bargaining game. In our data analysis we focus on (1) the influence of age, gender, profession and the medium chosen for participation on bargaining behavior and on (2) the external...

A simple two-person distribution game similar to the ultimatumgame is introduced. However, unlike the standard ultimatumgame, responders can determine the payoff for the proposerin case of rejection. Therefore, they can express their concerns inmonetary quantities. The experimental data are...

Economic decisions have been shown to depend on actual outcomes as well as perceived intentions. In this paper, we examine wether and how the relative importance of outcomes or intentions for economic decision develops with age. We report the resullt of ultimatum games with children, teens and...