We test for behavioral differences between groups and individuals in gift-exchange experiments. Related studies establish group behavior as typically closer to the game-theoretic equilibrium. We show that this result may depend crucially on the decision making procedure within groups. A novel...

Many decisions in economics and finance have to be made under severe time pressure. Furthermore, payoffs frequently depend on the speed of decision-making, like, for instance, when buying and selling stocks. In this paper, we examine the influence of time pressure and time-dependent incentive...

In an overlapping generations-experiment with multiple families participants can either support their parents directly and thereby reduce their tax burden or hope for tax-financed old age support. State productivity is captured by the factor with which total tax revenues are multiplied to...

We examine the publications of authors affiliated with an economics research institution in Canada in (i) the Top-10 journals in economics according to journals' impact factors, and (ii) the /Canadian Journal of Economics/. We consider all publications in the even years from 1980 to 2000....

Economics has devoted little attention so far as to whether the type of decision maker matters for economic decisions. However, many important decisions like those on monetary policy or a company's business strategy are made by (small) groups rather than an individual. We compare behaviour of...

We study the value of information in financial markets by asking whether having more information always leads to higher returns. We address this question in an experiment where single traders have different information levels about an asset's intrinsic value. In our treatments we vary the nature...

Credence goods markets suffer from inefficiencies arising from informational asymmetries between expert sellers and customers. While standard theory predicts that inefficiencies disappear if customers can verify the quality received, verifiability fails to yield efficiency in experiments with...

Social preferences have been shown to be an important determinant of economic decision making for many adults. We present a large-scale experiment with 883 children and adolescents, aged eight to seventeen years. Participants make decisions in eight simple, one-shot allocation tasks, allowing us...

We study experimentally the protection of property in five widely distinct countries-Austria, Mexico, Mongolia, South Korea and the United States. Our main results are the correlations between experimental choices with indicators regarding the security of property, trust and the quality of...