Although many real bargaining situations involve more than two people, much of the theoretical and experimental research concentrates on the two player situation. We study the simplest possible extension: four people (two two-person groups) of different patience bargain with each other....

With the help of lab experiments we study the impact of discharging insolvent debtors of their residual debt. We investigate the impact of different participation rules and the impact of different types of lenders. We find that higher participation rates encourage risk taking behaviour of...

We explore experimentally how power asymmetries between partners affect relationship-specific investments. We find that on average players' investments are larger than equilibrium investments. In contrast to social dilemma experiments, in our experiment preferences for social welfare and those...

Bubbles are omnipresent in lab experiments with asset markets. But these experiments were (mostly) conducted in environments with only human traders. Today markets are substantially determined by algorithmic traders. Here we use a laboratory experiment to measure human trading behaviour changes...

Bubbles are omnipresent in lab experiments with asset markets. Most of these experiments were conducted in environments with only human traders. Today markets are substantially determined by algorithmic traders. Here we use a laboratory experiment to measure changes of human trading behavior if...

Humans make decisions jointly with others. They share responsibility for the outcome with their interaction partners. Today, more and more often the partner in a decision is not another human but, instead, a machine. Here we ask whether the type of the partner, machine or human, affects our...

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and spite can be used to rationalize deviations from risk...

The aim of this study is to find out why people are telling the truth: is it a desire to respect trust, to avoid losses for others, or a mere distaste for lying per se? To answer this question we study a sender-receiver game where it is possible to delegate the act of lying and where it is...

More and more often the partner in this decision is not another human but, instead, a machine. Here we ask whether a machine partner affects our responsibility, our perception of the choice and our choice differently from a human partner. We use a modified dictator game with two joint decision...

We provide an example for an errors in variables problem which might be often neglected but which is quite common in lab experimental practice: In one task, attitude towards risk is measured, in another task participants behave in a way that can possibly be explained by their risk attitude. How...