While there is an extensive literature on the theory of infinitely repeated games, empirical
evidence on how “the shadow of the future” affects behavior is scarce and inconclusive. I …

A usual criticism of the theory of infinitely repeated games is that it does not provide sharp
predictions since there may be a multiplicity of equilibria. To address this issue, we present …

A novel experiment is used to show that the effect of a policy on the level of cooperation is
greater when it is chosen democratically by the subjects than when it is exogenously …

Our laboratory study of risk sharing without commitment captures the main features of a
simple model of voluntary insurance. Participants are paired in matches with stochastic …

We explore collusion by using the tools of experimental economics in a naturally occurring
marketplace. We report that competitive price theory adequately organizes data in …

Despite their current prevalence and historical significance, little is known about the
economics of open air markets. This paper uses open air markets as a natural laboratory to …

This paper investigates how the introduction of social preferences affects players'
equilibrium behavior in both the one-shot and the infinitely repeated version of the Prisoner's …

Cooperation is at the heart of life on Earth. It binds together organisms, families, and
societies. One of the most ubiquitous tools for studying cooperation is game theory, which …

In self-organizing networks, nodes are expected to perform services (such as forwarding
packets) for one another. The design of incentive mechanisms that lead nodes to cooperate …

A proper understanding of the determinants of co-operation is crucial for the social sciences.
In this paper we propose a novel theoretical tool that enhances this understanding …