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Using paper and pencil experiments administered in senior centers, we examine decision-making performance in multi …
Persistent link: https://www.econbiz.de/10011048188
I argue for an alternative interpretation of King Solomon's problem in terms of one of the two claimants being “malicious”. A “malicious” claimant places no intrinsic value on the object but derives utility from depriving the rival claimant. This new interpretation permits a simpler...
Persistent link: https://www.econbiz.de/10011048205
Informal monitors can sometimes substitute for formal law enforcement. Monitors hired to minimize cheating, however, are themselves vulnerable to collusion and extortion. I focus on one such informal monitor – the fair authorities at the trade fairs at Champagne – asking why the fairs...
Persistent link: https://www.econbiz.de/10011048226
distribution of buyer values for the products. We explore this relationship using controlled laboratory experiments. Our results …
Persistent link: https://www.econbiz.de/10010594620