Monitoring by peers is often an effective means of attenuating incentive problems. Most explanations of the efficacy of mutual monitoring rely either on small group size or on a version of the Folk theorem with repeated interactions which requires reasonably accurate public information...

Explanations of poverty, growth and development more generally depend on the assumptions made about individual preferences and the willingness to engage in strategic behaviour. Economic experiments, especially those conducted in the field, have begun to paint a picture of economic agents in...

Over the recent decade there was a wave of REITs going private, from an average of about three per year to 40 between 2005 and 2007. Standard corporate finance theory posits that firms go private when there is no longer a positive tradeoff between the expected benefits and the costs of being...

Since the way you play the equilibrium of a game depends on how much you understand it, this paper will put the use of game theory in applied analysis on new ground. We indicate how these facts can provide elements for a theoretical analysis of the decision process, and connect these results to...

The focus of this study is the production of electric power in an oil-fired, residential heating system using thermophotovoltaic (TPV) conversion devices. This work uses experimental, computational, and analytical methods to investigate thermal mechanisms that drive electric power production in...

Models of job tournaments and competitive workplaces more generally predict that while individual effort may increase as competition intensifies between workers, the incentive for workers to cooperate with each other diminishes. We report on a field experiment conducted with workers from a...

We conduct experiments in urban slums to measure trust and cooperation and to see how behavior varies with demographic factors and associational measures of social capital. Overall, we find high contribution rates among Thai and Vietnamese participants in a voluntary contribution game, and we...

Models of job tournaments and competitive workplaces more generally predict that while individual effort may increase as competition intensifies between workers, the incentive for workers to cooperate with each other diminishes. We report on a field experiment conducted with workers from a...