This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement separate contracts can be purchased. Demand for the...

The effectiveness of pre-play communication in achieving efficient outcomes has long been a subject of controversy. In some environments, cheap talk may help to achieve coordination. However, Aumann conjectures that, in a variant of the Stag Hunt game, a signal for efficient play is not...

Do lookers-on make better economic decisions and form more objective beliefs than individuals who are in the situation? We design a laboratory experiment studying the dynamic pattern of job applications and individuals' belief updating process in a labor market problem. Our experimental...

Human decision making often seems to be determined by the resolution of intrapersonal conflict. This paper conceptualizes the analysis of decisions governed by such dual self processes in individual decision contexts and strategic interactions. For this purpose, we define the solution concept...

We analyze the offering, asking, and granting of help or other benefits as a three-stage game with bilateral private information between a person in need of help and a potential help-giver. Asking entails the risk of rejection, which can be painful: since unawareness of the need can no longer be...

We introduce “group cohesion” to study the economic relevance of social relationships in team production. We operationalize measurement of group cohesion, adapting the “oneness scale” from psychology. A series of experiments, including a pre-registered replication, reveals strong...

Social and political inequality among individuals is a common driving force behind the breakdown in cooperation. In this paper, we theoretically and experimentally study cooperation among individuals faced with a sequence of collective-action problems in which the benefits to cooperation are...

We introduce "group cohesion" to study the economic relevance of social relationships in team production. We operationalize measurement of group cohesion, adapting the "oneness scale" from psychology. A series of experiments, including a pre-registered replication, reveals strong positive...