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We consider misconceptions about the functioning of the economy as one possible explanation for the emergence of crises in democracies. Furthermore, we study a political process which may lead to successful reform. First of all, we show that voters can make inefficient decisions concerning...
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This paper considers the stability of tacit collusion in price setting duopolies with repeated interaction. The minimum discount factor above which tacit collusion can be sustained in a subgame perfect equilibrium is called the critical discount factor delta*. In addition, delta* is often used...
Persistent link: https://www.econbiz.de/10009471758
and down movement of prices. We can explain tacit coordination in our experiment with an extended learning direction model …
Persistent link: https://www.econbiz.de/10009471841
Chapter IWe use a large-scale internet experiment to explore how subjects learn to play against computers that are … experiment, we separate the demand for punishment in general from a possible demand to conduct punishment personally. Subjects …? In our experiment we observe that the subjects almost never use punishment. Consistently, the data shows no increase in …
Persistent link: https://www.econbiz.de/10009476200
Einkommensbesteuerung und deren Wahrnehmung auf die Arbeit-Freizeit-Entscheidungen untersucht wird.Im ersten Experiment des ersten Teils …
Persistent link: https://www.econbiz.de/10009478158
Wahrscheinlichkeitsbereich n?her untersuchen. Im Experiment zum menschlichen Risikoverhalten wurde speziell die Bewertung hoher …
Persistent link: https://www.econbiz.de/10009485587
behavioral experiment (N=117) comparing three communication media (face-to-face, email, and Internet reverse auctions) and two …
Persistent link: https://www.econbiz.de/10009431843
laboratory experiment to show how a market evolves when firms or individual traders endogenouslydetermine the search costs on … their prices. In the experiment, human subjects play sellers and the computer calculates demands and profits, assuming …
Persistent link: https://www.econbiz.de/10009450619
Chapter 1: Efficient Design of an Auction with Discrete Bid Levels This paper studies one of auction design issues: the choice of bid levels. Full efficiency is generally unachievable with a discrete auction. Since there may be more than one bidder who submits the same bid, the auction cannot...
Persistent link: https://www.econbiz.de/10009450772