This paper examines Chinese students’ risk attitude using buying and selling experiments with lotteries. We found that subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the selling experiment, subjects were risk loving...

We conducted a field experiment on the Internet and investigated the participants' belief updating in an individual learning environment where they observe a sequence of private signals and in a social learning environment where they observe a sequence of other people's actions. We observed that...

We conducted a field experiment on the Internet and investigated the participants’ belief updating in an individual learning environment where they observe a sequence of private signals and in a social learning environment where they observe a sequence of other people’s actions. We observed...

This paper reports the results of informational cascades experiments where two different decision-making systems, anti-seniority and seniority are investigated. By implementing heterogeneous signal qualities associated with the fixed order of decisions I compare the property of each system and...

We experimentally study how (un)selfish lies are reciprocated—or not—in subsequent economic interactions in a labor market. The experiment was conducted in two sequential stages, where the first stage was a deception game, and the second stage was a gift-exchange game. We find that while...

We study experimentally how (un)selfish lies are reciprocated – or not – in subsequent economic interactions in the labor market. We find that while selfish lies are punished (negative reciprocity), prosocial and altruistic lies are neither punished nor rewarded (lack of positive...

We experimentally study how (un)selfish lies are reciprocated—or not—in subsequent economic interactions in a labor market. The experiment was conducted in two sequential stages, where the first stage was a deception game, and the second stage was a gift-exchange game. We find that while...

People often conform to others either pro-socially or self-interestedly. By conducting modified dictator game experiments where subjects observe others’ behaviors, this study analyzes how observational learning influences subjects’ conforming/non-conforming and pro-social/self-interested...

Designing efficient environmental policies requires knowledge about households' preference parameters for their intertemporal decisions. By conducting an original Internet-based survey using Japanese participants (n=2,906) and a follow-up survey (n=1,407), we examine how people evaluate...