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  • experiments  (4)
  • 1
    Electronic Resource
    Electronic Resource
    Springer
    Experimental economics 2 (2000), S. 227-238 
    ISSN: 1573-6938
    Keywords: experiments ; cooperation ; strategy method
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In experiments with two-person sequential games we analyze whether responses to favorable and unfavorable actions depend on the elicitation procedure. In our “hot” treatment the second player responds to the first player's observed action while in our “cold” treatment we follow the “strategy method” and have the second player decide on a contingent action for each and every possible first player move, without first observing this move. Our analysis centers on the degree to which subjects deviate from the maximization of their pecuniary rewards, as a response to others' actions. Our results show no difference in behavior between the two treatments. We also find evidence of the stability of subjects' preferences with respect to their behavior over time and to the consistency of their choices as first and second mover.
    Type of Medium: Electronic Resource
    Location Call Number Limitation Availability
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    Experimental economics 2 (2000), S. 227-238 
    ISSN: 1573-6938
    Keywords: experiments ; cooperation ; strategy method ; C92
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In experiments with two-person sequential games we analyze whether responses to favorable and unfavorable actions depend on the elicitation procedure. In our “hot” treatment the second player responds to the first player's observed action while in our “cold” treatment we follow the “strategy method” and have the second player decide on a contingent action for each and every possible first player move, without first observing this move. Our analysis centers on the degree to which subjects deviate from the maximization of their pecuniary rewards, as a response to others' actions. Our results show no difference in behavior between the two treatments. We also find evidence of the stability of subjects' preferences with respect to their behavior over time and to the consistency of their choices as first and second mover.
    Type of Medium: Electronic Resource
    Location Call Number Limitation Availability
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  • 3
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: We study experimentally how the ability to communicate affects the frequency and effectiveness of flexible and inflexible contracts in a bilateral trade context where sellers can adjust trade quality after observing a post-contractual cost shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts are much more frequent and considerably more productive, both for buyers and sellers. Also, both buyer and seller earn considerably more from flexible with communication than rigid without communication. Our results show quite strongly that communication, a normal feature in contracting, can remove the potential cost of flexibility (disagreements caused by conflicting perceptions). We offer an explanation based on social norms.
    Keywords: C91 ; ddc:330 ; contract design ; communication ; experiments ; Vertrag ; Kommunikation ; Test
    Language: English
    Type: doc-type:workingPaper
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  • 4
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    Unknown
    Bonn: Institute for the Study of Labor (IZA)
    Publication Date: 2018-11-15
    Description: We study worker and firm behavior in an environment where worker effort could depend on co-workers? wages. Theoretically, we show that an increase in workers? ?concerns? with coworkers? wages should lead profit-maximizing firms to compress wages under quite general conditions. However, firms should be harmed by such concerns, and such concerns can justify paying equal wages to workers of unequal productivity only when those concerns are asymmetric (in the sense that only underpayment matters). Our laboratory experiments indicate that workers? effort choices are highly sensitive to their own wages, but largely unresponsive to co-workers? wages. Despite this, in apparent anticipation of a negative worker reaction, firms in our experiment were more likely to compress wages when wages became public information. Profits were not significantly reduced by a requirement to make wages public. Overall, our results seem to weaken the case that either wage secrecy or wage compression is a profit-maximizing policy in practice.
    Keywords: C92 ; M52 ; M12 ; J33 ; ddc:330 ; experiments ; effort ; social preferences ; jealousy ; wage compression ; wage secrecy ; Leistungsmotivation ; Lohnstruktur ; Neid ; Geheimhaltung ; Vergütungssystem ; Experiment
    Language: English
    Type: doc-type:workingPaper
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