Reciprocity is common in economic and social domains, and it has been widely documented in the laboratory. While positive and negative reciprocity are observed in investment and ultimatum games, respectively, prior laboratory studies often neglect the effect of time delays that are common in...

We explore the influence of social norms on behavior. To do so, we introduce a method for identifying norms, based on the property that social norms reflect social consensus regarding the appropriateness of different possible behaviors. We demonstrate that the norms we elicit, along with a...

Experimental research on the credibility of advice in coordination games shows that advice can have considerable influence on players' behavior, even when this advice conflicts with payoff-dominance. A crucial feature of this prior research, however, is that the adviser has no share in the final...

Several previous studies measure the extent to which individuals trust other individuals and argue that individual trust is an important element of interaction in organizations and markets. However, a related topic is the extent to which it is possible for individuals to trust groups as separate...

We test the claim that game form misconception among subjects making choices through the Becker-DeGroot-Marschak (BDM) value elicitation procedure provides an explanation for the endowment effect, as suggested by Cason and Plott (forthcoming). We employ a design that allows us to clearly...