An experimental analysis of voluntary, binary contributions for step-level public goods is presented. Independent information is obtained on individual value orientation and expectations about the behavior of other subjects using incentive compatible mechanisms. The effects of increasing payoffs...

One of the main findings of a large body of gift exchange experiments is that a considerable fraction of workers reward higher wages with higher effort. These results are observed for simple one-employer-one-worker relationships. In this article we investigate whether they generalise to the more...

Experimental results are presented for a simplified version of Hart's (1995) theory of the firm. Theory predicts that investment levels remain constant when investors' no-trade pay-offs increase, if these pay-offs are threat points. While they may decrease when no-trade pay-offs are outside...

In this experimental study of a two player power-to-take game, players earn an income in an individual effort task preceding the game. The game has two stages. First, one player can claim any part of the other"s income (take rate). Then, the latter player can respond by destroying own income. We...