This paper reports on a set of experiments designed to discriminate among the possible sources of the failure of the unique mixed strategy minimax equilibrium of the O'Neill (1987) game. First, the experimental design allows one to identify the causes of the serial correlation in subjects'...

We propose an instrument to measure individuals' social preferences regarding equity and efficiency behind a veil of ignorance. We pair portfolio and wealth distribution choice problems which have a common budget set. For a given bundle, the distribution over an individual's wealth is the same...

This paper presents theoretical extensions and laboratory tests of the Hoffman and Libecap (1994) model of individual firm incentives to form agricultural marketing pools. The key incentives are lower variance in output prices and economies in scale in marketing. This paper extends the model by...

We conduct an experiment in which we auction the scarce rights to play the Proposer and Responder positions in subsequent ultimatum games. As a control treatment, we randomly allocate these rights and then charge exogenous participation fees according to the auction price sequences observed in...

Recent technological advances enable the implementation of online, field and hybrid experiments using mobile devices. Mobile devices enable sampling of incentivized decisions in more representative samples, consequently increasing the generalizability of results. Generalizability might be...

We report on experimental markets for a contingent claim asset that eight subjects traded for nine periods before the state was revealed. There is an informative binary signal that arrives after each of the first eight trading rounds. In our baseline treatment the realization of the signal is...