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 …

There is strong evidence that people exploit their bargaining power in competitive markets
but not in bilateral bargaining situations. There is also strong evidence that people exploit …

Game theory, the formalized study of strategy, began in the 1940s by asking how
emotionless geniuses should play games, but ignored until recently how average people …

Research on ultimatum and dictator games has found that because of" fairness" first movers
in such games offer more than noncooperative game theory predicts. We find that if the right …

It is not only the great number of papers written on environment economics that make it
worth dealing with this special branch of experimental research, but the environmental …

We introduce a parametric model of other-regarding preferences in which my emotional
state determines the marginal rate of substitution between my own and others' payoffs, and …

This project tests for the effect of social status in a laboratory experimental market. We
consider a special “box design” market in which a vertical overlap in supply and demand …

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 …

There is growing interest in the role of bargaining costs in inhibiting voluntary contracts
(Victor Goldberg, 1976; Oliver Williamson, 1979). The theoretical work stresses the problems …

This chapter standardizes terminology, places the double auction (DA) institution and its
variants in the taxonomy of market institutions, and distinguishes the different sorts of trading …