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A unique indivisible commodity with an unknown common value is owned by group of individuals and should be allocated to one of them while compensating the others monetarily. We study the so-called fair division game (Güth, Ivanova-Stenzel, Königstein, and Strobel (2002, 2005)) theoretically...
Persistent link: https://www.econbiz.de/10003905741
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. -- behavioral principles ; outside option games ; videotaped experiments …
Persistent link: https://www.econbiz.de/10009723594
We present a model of price leadership on homogeneous product markets where the price leader is selected endogenously. The price leader sets and guarantees a sales price to which followers can adjust according to their individual supply functions. The price leader then clears the market by...
Persistent link: https://www.econbiz.de/10010189316
determine, via their bids, which of four alternative public projects to implement. Previous experiments with positive cost … projects have demonstrated that the mechanism is efficiency enhancing. Our experiment tests whether the mechanism remains …
Persistent link: https://www.econbiz.de/10009784119
Bidding rules that guarantee procedural fairness may induce more equilibrium bidding and moderate other …-regarding concerns. In our experiment, we assume commonly known true values and only two bidders to implement a best-case scenario for …. -- Auctions ; Fair Division Games ; Procedural fairness …
Persistent link: https://www.econbiz.de/10008689003
the public good. -- Public project ; Bidding behavior ; Procedural fairness …
Persistent link: https://www.econbiz.de/10009238609
This paper derives and justifies a procedurally fair bidding mechanism and reviews experiments that apply the mechanism … to public projects provision. In the experiments, not all parties benefit from provision, and the projects ́costs can be …
Persistent link: https://www.econbiz.de/10009792166
, public project should be provided, we perform experiments where (i) not all parties benefit from provision, and (ii) the …. Additionally, it relies on intuitive fairness and profitability requirements. Our results indicate that the provision rule is … of the most efficient project is positive. -- Public project ; Bidding behavior ; Procedural fairness …
Persistent link: https://www.econbiz.de/10009567095
In the market where inattentive buyers can fail to notice some feasible choices, the key role of marketing is to make buyers aware of products. However, the effective marketing strategy is often subtle since marketing tactics can make buyers cautious. This paper provides a framework to analyze...
Persistent link: https://www.econbiz.de/10009516790