We study a multiperiod bargaining mechanism in which a seller negotiates with a buyer over the price of an indivisible good. It is common knowledge that the good has zero value to the seller. Its value to the buyer is privately known, distributed independently of the seller's value according to...

Coordination behavior is studied experimentally in a class of noncooperative market entry games featuring symmetric players, complete information, zero entry costs, and several randomly presented values of the market capacity. Once the market capacity becomes publicly known, each player must...

To investigate the effect of time horizon on investment behavior, this paper reports the results of an experiment in which business graduate students provided certainty equivalents and judged various dimensions of the outcome distribution of simple gambles that were played either once or...

In this study, respondents from the P.R.C., U.S.A., Germany, and Poland were found to differ in risk preference, as measured by buying prices for risky financial options. Chinese respondents were significantly less risk-averse in their pricing than Americans when risk preference was assessed in...

This paper provides empirical evidence that distinguishes between alternative conceptualizations of the risky decision making process. Two studies investigate whether cross-situational differences in choice behavior should be interpreted in the expected utility framework as differences in risk...