Taking the view that constitutions are devices whereby people coordinate to specific equilibria in circumstances that allow multiple equilibria, we show that a constitutional secession clause can serve as such a device and, therefore, that such a clause is more than an empty promise or an...

We investigate gender differences and menstrual cycle effects in first-price and second-price sealed-bid auctions with independent private values in a laboratory setting. We find that women bid significantly higher and earn significantly less than men do in the first-price auction, while we find...

We investigate the effects of team competition on pro-social lending activity on Kiva.org, the first microlending website to match lenders with entrepreneurs in developing countries. Using naturally occurring field data, we find that lenders who join teams contribute 1.2 more loans ($30-$42) per...

We characterize a parametric family of application-rejection school choice mechanisms, including the Boston and Deferred Acceptance mechanisms as special cases, and spanning the parallel mechanisms for Chinese college admissions, the largest centralized matching in the world. Moving from one...

This paper describes a hybrid stock trading system based on Genetic Network Programming (GNP) and Mean Conditional Value-at-Risk Model (GNP–CVaR). The proposed method, combining the advantages of evolutionary algorithms and statistical model, has provided useful tools to construct portfolios...

We implemented the first web-based online field experiments of fund-raising. We embedded our experiment in the Internet Public Library to test four mechanisms: Voluntary Contribution (VCM), Premium, Seed Money and Matching. Although the gift size is not significantly different across mechanisms,...

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