We investigate how reputational uncertainty and the rate of change of the social environment interact to influence cooperation in social networks. Reputational uncertainty significantly decreases cooperation and welfare, induces more forgiveness toward defectors, and promotes opportunistic play....

We design an experiment to study the implications of information networks for the incentive to acquire costly information, market liquidity, investors' earnings and asset price characteristics in a financial market. Social communication crowds out information production as a result of agent's...

We report the results of an experiment designed to study the determinants of asset price movement and consumption smoothing behavior across asset markets populated with varying proportion of traders with and without having induced motive to smooth consumption. Although the asset is over-priced...

We design an experiment to study the effects of dark trading on incentives to acquire costly information, price efficiency, market liquidity, and investors' earnings in a financial market. When the information precision is high, adding a dark pool alongside a lit exchange encourages information...