Dramatic increases in the capabilities and decreases in the costs of computers and communication networks have fomented revolutionary thoughts in the scholarly publishing community. In one dimension, traditional pricing schemes and product packages are being modified or replaced. We designed and...

By providing incentives for sellers to act in a trustworthy manner, reputation mechanisms in many online environments can mitigate moral-hazard problems when particular buyers and sellers interact infrequently. However, these mechanisms rely on buyers sharing their private information about...

We conduct a neutral-context laboratory experiment to systematically investigate the role of the hit-by-bus concern in explaining the annuitization puzzle: the low rate of retirement-asset annuitization relative to the predictions of standard models. We vary endowed asset (annuity vs. stock of...

We conduct a two-phase laboratory experiment, separated by several weeks. In the first phase, we conduct urn games intended to measure ambiguity aversion on a representative population of undergraduate students. In the second phase, we invite the students back with four different solicitation...

A frequently cited argument against the use of market-based instruments to provide public goods is that they diminish our sense of responsibility to be good citizens. In this paper, we report on the results of a laboratory experiment designed to explore the idea that this distrust stems from the...

I experimentally investigate the effects of the ability to imitate successful others on convergence to the one-shot Nash equilibrium. I study a two-player game (Potters and Suetens Forthcoming) in which a single parameter determines the existence of strategic complementarities. I generally...

In an automated market for electronic goods new problems arise that have not been well studied previously. For example, information goods are very flexible. Marginal costs are negligible and nearly limitless bundling and unbundling of these items are possible, in contrast to physical goods....

Markets for digital information goods provide the possibility of exploring new and more complex pricing schemes, due to information goods' flexibility and negligible marginal cost. In this paper we compare the dynamic performance of price schedules of varying complexity under two different...

We explore a scenario in which a monopolist producer of information goods seeks to maximize its profits in a market where consumer demand shifts frequently and unpredictably. The producer is free to set an arbitrarily complex price schedule-a function that maps the set of purchased items to a...

In an economy in which a producer must learn the preferences of a consumer population, it is faced with a classic decision problem: when to explore and when to exploit. If the producer has a limited number of chances to experiment, it must explicitly consider the cost of learning (in terms of...