We employ a price setting duopoly experiment to examine whether buyer confusion increases market prices. Each seller offers a good to buyers who have homogeneous preferences. Sellers decide on the number of attributes of their good and set prices. The number of attributes bears no cost to the...

In Man and Takayama (2013) (henceforth MT) we show that many classical impossibility theorems follow from three simple and intuitive axioms on the social choice correspondence when the set of social alternatives is finite. This note extends the main theorem (Theorem 1) in MT to the case where...

This paper identifies and illuminates a common impossibility principle underlying a number of impossibility theorems in social choice. We consider social choice correspondences assigning a choice set to each non-empty subset of social alternatives. Three simple axioms are imposed as follows:...

We propose a game theoretic model of large elections that incorporates the assumption that mandate matters. This innovation is motivated by empirical evidence that US Representatives with larger victory margins on average vote in a more partisan manner. Without relying on preference for voting,...

This paper considers social choice correspondences assigning a choice set to each non-empty subset of social alternatives. We impose three requirements on these correspondences: unanimity, independence of preferences over infeasible alternatives and choice consistency with respect to choices out...

Whether in electoral politics or promotions within organizations, players often face the dilemma of whether to enter the contest or to assist other candidates. This article analyzes incentives in a rank-order tournament when the winner has control over resources that he can distribute to his...

This study explores the specific deterrence generated by punishment in the context of regulatory violations with a focus on the distinction between upward revisions to future punishment parameters – likelihood and severity – and the experience of being penalized. In order to avoid...

According to the standard model of enforcement, both the certainty of punishment and the severity of punishment influence deterrence. Discerning the separate effects of these two components on behavior, however, is difficult especially because it requires constructing measures of the beliefs of...

We conduct a real effort experiment in which performance is not monitored and participants are paid according to their reported performance. Participants are paid according to a piece rate and a winner-take-all tournament and then select between the two schemes before performing the task one...