The authors test the frequency of feedback information about the performance of an investment portfolio and the flexibility with which the investor can change the portfolio influence her risk attitude in markets. In line with the prediction of Myopic Loss Aversion (Benartzi and Thaler, 1995),...

We use an experiment to compare two institutions for allocating the proceeds of team production. Under revenue-sharing, each team member receives an equal share of team output; under leader-determined shares, a team leader has the power to implement her own allocation. Both arrangements are...

We examine the force of three types of behavioral dynamics in quantity-setting triopoly experiments:mimicking the successful firm,following the exemplary firm, andbelief learning.Theoretically, these three rules of dynamic conduct lead to the competitive, the collusive, and the Cournot-Nash...

Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment after too few noisy signals. The combination of these...

We study an experimental market in which the structure of the information flows is endogenized. When making an offer, traders choose not only the price at which they are prepared to trade, but also the subset of traders they want to inform about the offer. This design allows for two extreme...

In this paper a simple and basic signaling game is studied in an experimental environment. First, we check whether we can replicate some of the findings in the literature concerning equilibrium selection and the use and impact of costly signals. Second, and foremost, the comparative statics...