Publisher Summary Real markets are easy to create. The difficult part is creating a market
that demonstrates a point that remains valid upon replication in other subject pools and by …

We examine experimentally the role of active communication as a mechanism for improving
economic efficiency in a voluntary contribution public goods environment. With no …

We explore the difference between explicit and tacit collusion by investigating the impact
communication has in experimental markets. For Bertrand oligopolies with various numbers …

This paper reviews a new research technique in law and economics-laboratory experiments.
Although some economists have used laboratory techniques to study and develop economic …

Despite the contrast between the relative simplicity of the laboratory and the complexity of
most naturally occurring markets, there is a well-established tradition of experimental …

In two studies of bilateral bargaining with asymmetric information, we show that the
communication medium in which the bargaining takes place, affects the efficiency and …

Communication has been shown to be an effective mechanism for promoting efficient
resource use in homogeneous common-pool resource settings. Communication allows …

Costless pre-play communication has been found to effectively facilitate coordination and
enhance efficiency in games with Pareto-ranked equilibria. We report an experiment in …

Leniency clauses, offering cartelists legal immunity if they blow the whistle on each other, is
a recent anti-trust innovation. The authorities wish to thwart cartels and promote competition …

Conceptual debate centering on the efficacious nature of contract law for regulating
exchange has prompted recent emphasis on alternative modes of governance. The …