Two auction mechanisms are studied in which players compete with one another for an exogenously determined prize by independently submitting integer bids in some discrete and commonly known strategy space specified by the auctioneer. In the unique lowest (highest) bid auction game, the winner of...

Two auction mechanisms are studied in which players compete with one another for an exogenously determined prize by independently submitting integer bids in some discrete and commonly known strategy space specified by the auctioneer. In the unique lowest (highest) bid auction game, the winner of...

The notion of choice inconsistency is widely spread in the literature on behavioraleconomics. Several approaches were used to account for the observation that peoplereverse their choices over time. This paper aims to explain the formation of resolutionsregarded as internal self-binding devices....

The unmediated call auction is a useful trading mechanism to aggregate dispersedinformation. Its ability to incorporate information of a single informed insider,however, is less well understood. We analyse this question by presenting a simplecall auction game where both auction prices and limit...

In line with the widely applied principle of just deserts, we assume that the severityof the penalty on a contract offender increases in the harm on the other. Whenthis principle holds, the influence of the efficiency of the agreement on the incentivesto abide by it crucially depends on whether...

One may hope to capture the behavioral and emotional eects of downsizingthe labor force in rather abstract settings as an ultimatum game (see Fischeret al. (2008)), or try to explore downsizing in its more natural principalagentscenario with a labor market background. We pursue the latter...

In the experimental scenario several agents repeatedly invest in n (n _ 2)state-specic assets. The evolutionarily stable and equilibrium (Blume andEasley, 1992) portfolio for this situation requires to distribute funds accordingto the constant probabilities of the various states. The dierent...

The satisficing approach is generalized and applied to finite n-person games.Based on direct elicitation of aspirations, we formally define the conceptof satisficing, which does not exclude (prior-free) optimality but includesit as a border case. We also review some experiments on strategic...

Charness et al. (2007b) have shown that group membership has a strong effect on individualdecisions in strategic games when group membership is salient through payoff commonality.In this comment I show that their findings also apply to non-strategic decisions, even when nooutgroup exists, and I...

On a heterogeneous experimental oligopoly market, sellers choose a price,specify a set-valued prior-free conjecture about the others' behavior, andform their own profit-aspiration for each element of their conjecture. Weformally define the concepts of satisficing and prior-free optimality...