We investigate experimentally whether social learners appreciate the redundancy of information conveyed by their observed predecessors' actions. Each participant observes a private signal and enters an estimate of the sum of all earlier-moving participants' signals plus her own. In a first...

We use a unique dataset from a Singaporean taxi fleet consisting of 6,663 drivers with 23 months of daily work routines to test if taxi drivers exhibit learning by doing (LBD). We find strong evidence of LBD. Next, we document the channels of learning: drivers learn the most through technology...

Do people know their own risk preferences, or do risk choices change with experience and observation? We provide a clean and straightforward test in the laboratory. People make an initial decision concerning a lottery choice and then experience 24 practice periods in which they roll the dice,...

We investigate experimentally whether social learners appreciate the redundancy of information conveyed by the behavior of those they observe. Each experimental participant observes a private signal and enters an estimate of the sum of all earlier-moving participants' signals plus her own. In a...

We consider bargaining in a bipartite network of buyers and sellers, who can only trade with the limited number of people with whom they are connected. Such networks could arise due to proximity issues or restricted communication flows, as with information transmission of job openings, business...

William J. Baumol is the 2003 winner of the International Award for Entrepreneurship and Small Business Research. Throughout his career Baumol has urged the profession to pay attention to the instrumental role of entrepreneurship in economic renewal and growth. At the same time he has insisted...

This Article sketches the goals of antitrust law, describes the causes and effects of anticompetitive pricing generally and supracompetitive pricing specifically, explains the inability of antitrust law to suppress some instances of supracompetitive pricing, establishes the importance of trust...

It is frequently argued and claimed that Islamic Banking and Finance (IBF) is an “asset based” industry i.e., all forms of financing within the industry should involve some asset(s). It is further argued that the real or fundamental form of financing in Islamic doctrine is based on PLS...

The hedonic price model, derived from Lancaster’s (1966) consumer theory and Rosen’s theoretical (1974) model, has been used extensively in the scientific investigation of various aspects of housing markets. This paper reviews the literature on the application of the hedonic price model....