Many previous empirical studies have suggested that cooperation and trust affect economic growth. However, the precise relationship between trust and cooperation (i.e., whether trust leads to cooperation or cooperation leads to trust) remains unclear and it is not known how the level of economic...

Many previous empirical studies have suggested that cooperation and trust affect economic growth. However, the precise relationship between trust and cooperation (i.e. whether trust leads to cooperation or cooperation leads to trust) remains unclear and it is not known how the level of economic...

Trust, trustworthiness and cooperation are crucial in achieving social goals, and are thus essential components of social capital. This paper reports the results of a series of lab and artefactual field experiments carried out in Shanghai to evaluate some of the key indicators of social capital...

We experimentally study clock auctions to dissolve partnerships jointly owned by two players. Subjects are found to deviate systematically from the Nash equilibrium. We explain the bidding behaviour in terms of risk aversion and/or non-standard utility theory.

We conducted a market experiment in China to examine potential effects of subjects' hometowns on their behaviors as well as potential differences between team and individual trades. We observed that group size affected bargaining power and subsequently payoffs in different directions according...