Many important intertemporal decisions, such as investments of firms or households, are made by groups rather than individuals. Little is known what happens to such collective decisions when group members have different incentives for waiting, because the economics literature on group decision...

This paper investigates whether distributional conflicts become more likely when groups are involved in the fight. We present results from a laboratory experiment in which two parties can appropriate resources via a contest or, alternatively, take an outside option. Keeping monetary gains...

In hierarchical organizations the role of a team leader often requires making decisions which do not necessarily coincide with the majority opinion of the team. However, these decisions are final and binding for all team members. We study experimentally why, and under which conditions, leaders...

Does market interaction influence morality? We study a particular angle of this classic question theoretically and experimentally. The novelty of our approach is to posit that people are motivated by reciprocity; an urge many argued affects humans. We scrutinize how this shapes interaction in...

We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time...

For the past two decades a market model introduced by Smith, Suchanek, and Williams (1988, henceforth SSW) has dominated experimental research on financial markets. In SSW the fundamental value of the traded asset is determined by the expected value of a finite stream of dividend payments. This...

We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $100, we vary the availability of...

Social norms affect a wide range of behaviors in society. We conducted a representative experiment to study how beliefs about the existing social norm regarding COVID-19 vaccination affect vaccination readiness. Beliefs about the norm are on average downward biased, and widely dispersed....

We present representative evidence of discrimination against migrants through an incentivized choice experiment with over 2,000 participants. Decision makers allocate a fixed endowment between two receivers. To measure discrimination, we randomly vary receivers' migration background and other...

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant redictors of health...