We experimentally study the impact of public opinion poll releases on voter turnout and welfare in a participation game. We find higher turnout rates when polls inform the electorate about the levels of support for various candidates than when polls are prohibited. Distinguishing between allied...

We use experiments to study the efficiency effects of adding the possibility of forward contracting to a spot market. We focus on the strategic implications of a forward market and consider both quantity and supply function competition. In both cases we compare the effect of adding a contract...

This paper studies experimentally how the existence of social information networks affects the ways in which firms recruit new personnel. Through such networks firms learn about prospective employees' performance in previous jobs. Assuming individualistic preferences social networks are...

We use experiments to study the efficiency effects for a market as a whole of adding the possibility of forward contracting to a pre-existing spot market. We deal separately with the cases where spot market competition is in quantities and where it is in supply functions. In both cases we...

We study the politico-economic interaction in a country in transition from a communist regime to a democratic, free market system, to wit, Albania. It is argued that the politicoeconomic system there is characterized by the existence of clans. Both the communists and the first democratically...

We experimentally study the impact of preference uncertainty on voter turnout and electoral efficiency in a participation game. We find higher participation rates when the electorate is informed about the level of support for various candidates than when group sizes remain uncertain. Moreover,...

The artificiality of a laboratory situation is placed in the context of the tension between external and internal validity. Most economists consider internal validity to be most important. A proper evaluation of the 'artificiality criticism' (a lack of external validity) requires distinguishing...