Boom and bust is a pervasive dynamic for new products. Word of mouth, marketing, and learning curve effects can fuel rapid growth, often leading to overcapacity, price war, and bankruptcy. Previous experiments suggest such dysfunctional behavior can be caused by systematic "misperceptions of...

"Planning efforts in the SA Murray Darling Basin (SAMDB) have focused on the revegetation of degraded, privately held agricultural land, using locally native species, to meet prescribed resource condition targets of increased biodiversity, carbon sequestration, salinity and wind erosion...

"Over the past 30 years, applied microeconomics has seen an explosion in the use of experimental methods as a tool for observing economic behavior. Economic experiments serve as a complement to field research using, allowing the researcher to create and control key theoretically based rules of...

"In this paper we formulate a cost-induced equilibrium concept. This equilibrium is generated from transaction costs connected with a sequential agenda process. Our claim is that most collective choice Institutions carry with them decision costs. If these transaction costs are very large, they...

Concern about potential free riding in the provision of public goods has a long history. More recently, experimental economists have turned their attention to the conditions under which free riding would be expected to occur. A model of free riding is provided here which demonstrates that...

This research discusses small decision making problems and petty corruption as their practical applications with a structured economic experiment. One of examples of petty corruption considered includes demands for petty bribes by traffic officials followed by police. We examine that it is...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...