Since Griliches (1969), researchers have been intrigued by the idea that physical capital and skilled labor are relatively more complementary than physical capital and unskilled labor. This capital-skill complementarity hypothesis has received renewed attention recently, as researchers have...

This paper presents experimental results from an analysis of two similar games, the repeated ultimatum game and the repeated best-shot game. The experiment examines whether the amount and content of information given to players affects the evolution of play in the two games. In one experimental...

Many internet auction sites implement ascending-bid, second-price auctions. Empirically, lastminute or “late” bidding is frequently observed in “hard-close” but not in “soft-close” versions of these auctions. In this paper, we introduce an independent private-value repeated internet...

This paper reports findings from an experiment that implements a search-theoretic model of money as a medium of exchange. The question examined is whether subjects learn to adopt the same commodities as media of exchange that the model predicts will be used in equilibrium. We report that...

We propose the use of a new technique -- symbolic regression -- as a method for inferring the strategies that are being played by subjects in economic decision-making experiments. We begin by describing symbolic regression and our implementation of this technique using genetic programming. We...

Genetic algorithms have been used by economists to model the process by which a population of heterogeneous agents learn how to optimize a given objective. However, most general equilibrium models in use today presume that agents already know how to optimize. If agents face any uncertainty, it...