We report the results of an experimental study that compares voting mechanismsin the provision of public goods. Subjects can freely decide how much they want tocontribute. Whether the public good is finally provided is decided by a referendumunder full information about all contributions. If...

A simple two-person distribution game similar to the ultimatumgame is introduced. However, unlike the standard ultimatumgame, responders can determine the payoff for the proposerin case of rejection. Therefore, they can express their concerns inmonetary quantities. The experimental data are...

The price mecanism is the primary means of information transferin decentralized economic systems. High prices indicate highdemand, whereas low prices indicate low demand. Thus prices arethe signals for accelerating or slowing production. However, usingsequential, multi-unit auctions, we show...

Within the setting of two simple two-person coordinationgames the formation of subjective strategies is observed experimentally.Though the structure of the game is unknown playersuse their actions in order to coordinate on a specific equilibrium.Strategies enable them to interpret the...

For given product specifications by two competing firms the demand levels are determined by a randomly generated ideal composition of aspects. Firms can vary some demand. Although the product space is much too large to be explored systematically, we expect (and test for) rather reasonable...