Within a laboratory experiment we investigate a principal-agent game in which agents may,first, self-select into a group task (GT) or an individual task (IT) and, second, choose workeffort. In their choices of task and effort the agents have to consider pay contracts for bothtasks as offered by...

In this paper we aim - through an ‘experimentally-adapted’ Contingent Valuation survey -to look into the attributes of Ghanaians’ willingness-to-pay for green products. This would help usaddressing two main issues: first, from a theoretical point of view, we shall assess whether...

Experimental sealed bid first price auctions with private values in which feedback onthe losing bids is provided yield lower revenues than auctions where this feedback isnot given. Furthermore, bids tend to be above the equilibrium predictions for riskneutral bidders. While the latter...

Sick pay is a common provision in most labor contracts. This paperemploys an experimental gift-exchange environment to explore two relatedquestions using both managers and undergraduates as subjects.First, do workers reciprocate generous sick pay with higher effort? Second,do firms benefit from...

We study the influence of systematic probability misestimation on complexfinancial investment decisions on the context of structured financialproducts. Structured products have in recent years become more and morecomplex. We study the question whether this complexity might be a...

Internal inconsistencies are so commonplace in studies using the contingent valuation method(CVM) that it has been argued that that method should be abandoned as a means of preferenceelicitation in favour of other methods such as standard gambles (SG). The experiment described inthis paper finds...

Online platforms facilitate the formation of micro-communities on the Internet by enabling exchange between locally dispersed individuals. Since all interactions are mediated through the online platform, user representation plays a critical role for such communities. Grounded in Social Exchange...

The growing political polarization may influence a critical input for policymaking: people's economic expectations. This study examines whether political preferences shape individuals' forecasts for key economic indicators (using a preregistered online experiment in the context of Argentina's...

Antitrust laws prohibit private firms to coordinate their market behavior, yet many types of interfirm cooperation are legal. Using laboratory experiments, we study spillovers from legal cooperation in one market to non-competitive prices in a different market. Our theoretical framework predicts...

Due to computational advances in the past decades, so-called intelligent systems can learn from increasingly complex data, analyze situations, and support users in their decision-making to address them. However, in practice, the complexity of these intelligent systems renders the user hardly...