We analyse an experiment that observes each subject’s behaviour for both roles in the ultimatum and dictator game, and two modified ultimatum games where in the event of a decline the proposer and responder receive a λ- and (1-λ)-share of their proposed payoffs, respectively, where in our...

We analyse an experiment that observes each subject's behaviour for both roles in the ultimatum and dictator game, and two modified ultimatum games where in the event of a decline the proposer and responder receive a λ- and (1-λ)-share of their proposed payoffs, respectively, where in our...

EU competition law prohibits the abuse of a dominant position. An example of abuse is the charging of unfair prices. This prohibition in Article 102TFEU has been used to sanction excessive prices that are ‘too high’. According to the ECJ in United Brands, a price is abusive if (i) the...

A dominant firm can abuse its position by charging unfair prices under EU competition law. Among other things, this prohibition has been used to prohibit excessive prices that are ‘too high'. This abuse has remained underdeveloped conceptually and in practice at the EU level, so there is...

Bounded rationality is a key concept with implications across all areas of economics. To help students better understand the nature, causes and forms of bounded rationality in individual choice, we present a flexible classroom experiment. Beyond providing students with some first-hand evidence...