Why do some people behave pro-socially while others do not? Using an experimental design based on Konow and Earley (JPubE, 2008), I investigate a reason already proposed by Aristotle in his Nicomachean Ethics: He claims that there is a nexus between virtues and well-being and that enduring...

I examine whether reference points can provide an explanation for rigid wages in recessions. Even though a recession provides a good reason to adjust wages downward, workers' perception of a "fair wage" may depend on their previous wage, their reference point. Using a laboratory experiment, I...

This study investigates experimentally the disclosure of verifiable information in settings with and without seller competition. Sellers often choose to report a selected set of information and buyers account for this – even though not fully – by bidding skeptically. As expected, competition...

In explaining the winner’s curse, recent approaches have focused on one of two cognitive processes: conditional reasoning and belief formation. We provide the first joint experimental analysis of the role of these two obstacles. First, we observe that overbidding decreases significantly...

Why do some people behave pro-socially? I investigate a reason already proposed by Aristotle. He claims that there is a nexus between virtues and well-being. Using a within-subject experimental design in which each participant plays many classical economic games and answers more than 100...

I examine whether reference points can provide an explanation for rigid wages in recessions. Even though a recession provides a good reason to adjust wages downward, workers' perception of a “fair wage” may depend on their previous wage, their reference point. Using a laboratory experiment,...

We investigate the relevance of conditional reasoning and belief formation for the occurrence of the winner's curse with the help of two experimental manipulations. First, we compare results from a very simple common-value auction game with results from a transformed version of this game that...