The economic boom of the USA in the 1990s was remarkable in its duration, the sustained rise in equipment investment, the reduced volatility of productivity growth, and continued uncertainty about the trend growth rate. In this paper we link these phenomena using an extension of the classic...

We consider a dynamic model where traders in each period are matched randomly into pairs who then bargain about the division of a fixed surplus. When agreement is reached the traders leave the market. Traders who do not come to an agreement return next period in which they will be matched again,...

This paper analyzes bargaining outcomes when agents do not have stationary time preferences (as represented by a constant discount factor) but are pressed by firm deadlines. We consider a dynamic model where traders with heterogeneous deadlines are matched randomly into pairs who then bargain...

We demonstrate that personality has a systematic effect on strategic behavior. We focus on two personality traits: anxiousness and aggressiveness, and consider a 2-player entry game, where each player can guarantee a payoff by staying out, a higher payoff if she is the only player to enter, but...

This study provides first empirical results on entrepreneurs’ negotiation behavior. In a series of negotiation tasks, we compare persuasive behaviors and negotiation outcomes of entrepreneurs and non-entrepreneurs. Our results show that entrepreneurs make extensive use of emotions and...

Why do portfolio managers actively manage their stock portfolios? The finance literature suggests the importance of financial incentives, effort, information and career concerns. We suggest that personality can also be a factor. We perform an experiment with industry experts. The experiment...

Crowdfunding has recently become available for entrepreneurs. Most academic studies analyse data from rewards-based (pre-selling) campaigns. In contrast, in this paper we analyse 636 campaigns, encompassing 17,188 investors and 64,831 investments between 2012 and 2015, from one of the leading...

We provide evidence that a personality trait, aggression, has a first-order effect on group financial decision making. In a laboratory experiment on group portfolio choice, highly aggressive subjects (measured by a standard psychology test) were much more likely to recommend risky investment...

Do equity crowdfunding investors herd? We build a model where informed and uninformed investors arrive sequentially and choose whether and how much to invest. We test the model using data of investments on a leading European equity crowdfunding platform. We show theoretically and find...

We analyze the impact of market share on pricing strategies in markets with customer recognition. We show that in horizontally differentiated competitive markets prices vary with market share. . In asymmetric markets having a weak brand is a sufficient condition for discounts to existing...