This article discusses the problem of "thought experiments" in Austrian economics and takes as a starting point Lawrence Moss’ argument on the divide between the older Austrian economists - for whom thought experiments were crucial - and the new generation that, in Moss’ view, has...

Teams have become increasingly multinational in many sectors. The impact of national diversity on team performance is controversial, however. On the one hand, multinational teams may have access to a greater variety of task-relevant expertise, which should increase team performance. On the other...

The effect of alternative property rights regimes on the choice between taking an object and acquiring it via consensual exchange is experimentally explored in a two-period screening model. Experimental treatments involving card game implementation yield results that are generally consistent...

The conventional wisdom is that government decentralization promotes policy innovation because it allows for several simultaneous experiments by local governments. However, there is also a learning externality because successful policy experiments provide useful information to all governments....

Two important design elements for emission trading programs are whether and to what extent firms are able to bank emissions permits, and how these programs are to be enforced. In this paper we present results from laboratory emissions markets designed to investigate enforcement and compliance...

In this research, the authors examine the impact of imagination-focused visualization on the evaluation of really new products (RNPs) - that is, products that provide novel benefits but involve high learning costs. They compare imagination-focused visualization with memory-focused visualization...