We experimentally examine the effects of price competition in markets for expe-rience goods where sellers can build up … reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed … prices are fixed or endoge-nously chosen, we find that price competition lowers efficiency as consumers pay too little …

We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is … driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and … high prices coupled with low quality in non-competitive (monopolistic) markets. We then introduce a regulated intermediate …

We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is … driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and … high prices coupled with low quality in non-competitive (monopolistic) markets. We then introduce a regulated intermediate …

Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …

platoons. We find that, without competition between groups, individuals are more prone to cooperate altruistically in a … harm those who defect, encouraging a norm of cooperation towards the group. Adding competition between groups causes even …

We study the effects of reputation and competition in a trust game. If trustees are anonymous, outcomes are poor … trusteesʼ complete history has, somewhat surprisingly, no effect. On the other hand, we find that competition, coupled with some …

economics. This paper explores voting on a scheme of intergroup competition which facilitates cooperation in a social dilemma … situation. Experimental results show that the competitive scheme fosters cooperation. Competition is popular but the electoral … outcome depends strongly on specific voting rules of institutional choice. If the majority decides, competition is almost …