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An experiment on supply function competition

Bolle, Friedel; Grimm, Veronika; Ockenfels, Axel; del … - In: European Economic Review 63 (2013) C, pp. 170-185

We experimentally investigate key predictions of supply function equilibrium. While, overall, equilibrium organizes bidding behavior well, we observe three important deviations. First, bidding is sensitive to theoretically irrelevant changes of the demand distribution. Second, in a market with...

Persistent link: https://www.econbiz.de/10010702962

Information and Communication in Sequential Bargaining

Brosig, Jeannette; Ockenfels, Axel; Weimann, Joachim - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2003

In experimental bargaining with incomplete information, we vary the information distribution (symmetric and asymmetric), the direction of electronic pre-play communication (no, one-way, and two-way), and the electronic communication medium (email and video) Bargaining out-comes are influenced by...

Persistent link: https://www.econbiz.de/10005765095

Information and Communication in Sequential Bargaining

Brosig, Jeannette; Ockenfels, Axel; Weimann, Joachim - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

In experimental bargaining with incomplete information, we vary the information distribution (symmetric and asymmetric), the direction of electronic prepaycommunication (no, one-way, and two way), and the electronic communication medium (email and video) Bargainig outcomes are influenced by the...

Persistent link: https://www.econbiz.de/10005866968

How managerial wage transparency may reduce shareholder returns : evidence from an experiment ; conference paper

Bolton, Gary E.; Ockenfels, Axel; Werner, Peter - 2013 - This version: 4 January 2013

We study the role of transparency in a novel three-person profit sharing game in which managers and board directors decide on how to distribute the revenues of a company among themselves and shareholders, who are the residual claimants of the companies revenues. We examine two hypotheses. One is...

Persistent link: https://www.econbiz.de/10010342181

The Dynamic Interplay of Inequality and Trust - An Experimental Study

Greiner, Ben - 2008

We study the interplay of inequality and trust in a dynamic game, in which trust increases efficiency and thus allows higher growth of the experimental economy in the future. We find that trust is initially high in a treatment starting with equal endowments, but decreases over time. In a...

Persistent link: https://www.econbiz.de/10012773325

Robust Mechanism Design and Social Preferences

Bierbrauer, Felix - 2014

We study a classic mechanism design problem: How to organize trade between two privately informed parties. We characterize an optimal mechanism under selfish preferences and present experimental evidence that, under such a mechanism, a non-negligible fraction of individuals deviates from the...

Persistent link: https://www.econbiz.de/10013055380

An experimental analysis of ending rules in Internet auctions

Ariely, Dan; Ockenfels, Axel; Roth, Alvin E. - 2003

A great deal of late bidding has been observed on internet auctions such as eBay, which employ a second price auction … with a fixed deadline. Much less late bidding has been observed on internet auctions such as those run by Amazon, which … close until ten minutes have passed without a bid. This paper reports an experiment that allows us to examine the effect of …

Persistent link: https://www.econbiz.de/10011508080