Costless and non-binding pre-play communication (cheap talk) has been found to often be effective in achieving efficient outcomes in experimental games. However, in previous two-player experimental games each player was informed about both his payoff and the action of the other player in the...

This paper examines the empirical importance of randomisation bias in a Norwegian randomised field trial on a rehabilitation programme for sick listed worders. Inclusion of participants in the trial was base on information obtained from administrative social insurance records. Professional...

This paper reports the results of an experimental wine auction. Participants of the experiment were randomly assigned to three rooms. In each room four wines had to be evaluated, but the level of information to which participants had access differed across rooms. After evaluation, the wines were...

We investigate the role of information spillovers (IS) in determining firms' labor adjustments. We test the proposition that information on relevant state variables spills over through one firm's decision th those of other firms, assuming that spillovers matter only among frims that are both...

We analyze a model related to the strategic hereding literature where a second expert maximises his expected second period vvalue by conforming witj a first expert ("herding"). In contrast to the herdinfg literature we assume that an agent is most valuable if he is the only smart agent. We...

We analyze an industry where a dominant buyer may foreclose its rivals (with whom competes a la Cournot in the final good market) from access to an efficient supplier of an intermediate good. We prove that the presence of asymmetric information between this dominant buyer and its supplier may...