The handbook of experimental economics: Volume 2
Gespeichert in:
| Weitere Verfasser: | , |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Princeton, New Jersey
Princeton University Press
[2015]
|
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | xix, 747 Seiten Diagramme |
| ISBN: | 9780691139999 |
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| 245 | 1 | 0 | |a The handbook of experimental economics |n Volume 2 |c John H. Kagel and Alvin E. Roth, editors |
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Datensatz im Suchindex
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| adam_text | CONTENTS
Z sC?* ÿy-.;. c-ri-g: A t J-* î -f rî--?: i : ^ uî ÿ:fc : •.; îi •-f :--: -.-Ji; ^ i -- -v - *-:ii ;? l i t ^ r- : - ^ r;; 1 : = î 1 : : v- -J
Preface xiii
Chapter 1 Macroeconomics: A Survey of Laboratory Research 1
John Duffy
1. Introduction: Laboratory Macroeconomics 1
2. Dynamic, Intertemporal Optimization 4
2.1. Optimal Consumption/Savings Decisions 4
2.2. Exponential Discounting and Infinite Horizons 12
2.3. Exponential or Hyperbolic Discounting? 13
2.4. Expectation Formation 14
3. Coordination Problems 21
3.1. Poverty Traps 21
3.2. Bank Runs 24
3.3. Resolving Coordination Problems: Sunspots 27
3.4. Resolving Coordination Problems: The Global Game Approach 30
4. Fields in Macroeconomics 32
4.1. Monetary Economics 33
4.2. Labor Economics 46
4.3. International Economics 50
4.4. Multisectoral Macroeconomics 55
5. Macroeconomic Policies 61
5.1. Ricardian Equivalence 61
5.2. Commitment versus Discretion 64
5.3. Monetary Policy 67
5.4. Fiscal and Tax Policies 73
6. Conclusions 78
Acknowledgments 79
Notes 79
References 82
Chapter 2 Using Experimental Methods to Understand Why and How We
Give to Charity 91
Lise Vesterlund
1. Introduction 91
2. Preferences for Giving 92
2.1. Is Giving Rational? 95
2.2. Motives 97
VI
Contents
3. Fundraising 108
3.1. Announcements: Sequential and Dynamic Giving 109
3.2. Lotteries 119
3.3. Auctions 123
3.4. Rebates and Matches 126
4. Conclusion 131
Notes 133
References 141
Chapter 3 Neuroeconomics 153
Colin F. Camerer, Jonathan D. Cohen, Ernst Fehr Paul W. Glimcher,
and David Laibson
INTRODUCTION 153
1. Neurobiological Foundations 156
1.1. The Cellular Structure of the Brain 156
1.2. From Neurons to Networks 161
1.3. Summary of Neurobiology 164
2. Functional MRI: A Window into the Working Brain 164
2.1. Functional MRI and the BOLD Signal 165
2.2. Design Considerations 166
2.3. Image Analysis 168
2.4. Summary of Functional MRI 171
3. Risky Choice 172
3.1. Statistical Moments 172
3.2. Prospect Theory 172
3.3. Causal Manipulations 175
3.4. Logical Rationality and Biological Adaptation 176
3.5. Summary of Risky Choice 177
4. Intertemporal Choice and Self-regulation 177
4.1. Empirical Regularities 178
4.2. Multiple-Self Models with Selves That Have Overlapping Periods
of Control 181
4.3. Multiple-Self Models with Selves That Have Nonoverlapping Periods
of Control 182
4.4. Unitary-Self Models 182
4.5. Theoretical Summary 183
5. The Neural Circuitry of Social Preferences 183
5.1. Social Preferences and Reward Circuitry 184
5.2. Do Activations in Reward Circuitry Predict Choices? 186
5.3. The Role of the Prefrontal Cortex in Decisions Involving Social
Preferences 186
5.4. Summary 188
6. Strategic Thinking 189
6.1. Strategic Awareness 189
6.2. Beliefs, Iterated Beliefs, and Strategic Choice 190
Contents • vii
6.3. Learning 192
6.4. Strategic Teaching and Influence Value 194
6.5. Discussion of Strategic Neuroscience 196
6.6. Summary 199
7. Conclusion 200
Acknowledgments 200
Notes 201
References 202
Chapter 4 Other-Regarding Preferences: A Selective Survey of
Experimental Results 217
David }. Cooper and John H. Kagel
INTRODUCTION 217
I. Where Things Stood Circa 1995 218
II. Models of Other-Regarding Preferences, Theory, and Tests 222
A. Outcome-Based Social Preference Models 222
B. Some Initial Tests of the Bolton-Ockenfels and Fehr-Schmidt Models 225
C. Social Preferences versus Difference Aversion 231
D. Models Incorporating Reciprocity/Intentions of Proposers 233
E. Other-Regarding Behavior and Utility Maximization 235
F. Learning 236
III. Other-Regarding Behavior, Applications, and Regularities 240
A. The Investment/Trust Game 240
B. Results from Multilateral Bargaining Experiments 242
C. A Second Look at Dictator Games 244
D. Procedural Fairness 247
E. Diffusion of Responsibility 249
F. Group Identity and Social Preferences 253
G. Generalizability 255 i:
IV. Gift Exchange Experiments 259
A. An Initial Series of Experiments 259
B. Incomplete Contracts 261
C. Wage Rigidity 262
D. The Effect of Cognitive Ability and the Big Five Personality Characteristics
in Other-Regarding Behavior 264
E. Why Does Gift Exchange Occur? 265
F. Laboratory versus Field Settings and Real Effort 267
G. Summary 274
V. Conclusions 274
Acknowledgments 276
Notes 277
References 282
viii
Contents
Chapter 5 Experiments in Market Design 290
Alvin E. Roth
L Introduction 290
2. Some Early Design Experiments: Allocation of Airport Slots 295
3. FCC Spectrum Auctions 300
4. Other Auctions 307
4.1. eBay Auctions 307
4.2. A Poorly Designed Auction (for Medicare Supplies) 316
5. Labor Market Clearinghouses 318
5.1. Designing Labor Markets for Doctors 318
5.2. Matching without a Clearinghouse: The Market for Economists, and
Online Dating 327
6. Course Allocation 329
7. Conclusions 333
Notes 334
References 339
Chapter 6 Experiments in Political Economy 347
Thomas R. Palfrey
1. Introduction and Overview 347
1.1. Methodology: Relationship to Experimental Economics 348
1.2. Chapter Road Map 350
2. Experiments in Committee Bargaining 352
2.1. Unstructured Committee Bargaining 352
2.2. Committee Bargaining with a Fixed Extensive Form Structure 359
3. Elections and Candidate Competition 381
3.1. The Spatial Model of Competitive Elections and the Median Voter
Theorem 381
3.2. Multicandidate Elections 387
3.3. Candidate Competition with Valence 390
4. V oter T urnout 392
4.1. Instrumental Voting Experiments 392
4.2. The Effects of Beliefs, Communication, and Information on Turnout 397
4.3. Expressive Voting Experiments 398
5. Information Aggregation in Committees 400
5.1. Condorcet Jury Experiments 400
5.2. The Swing Voter s Curse 406
6. Voting Mechanisms that Reflect Preference Intensity 410
6.1. Mechanisms Where a Budget of Votes Can Be Allocated
Across Issues 411
6.2. Vote Trading and Vote Markets 414
7. Where Do We Go From Here? 418
Acknowledgments 419
Notes 419
References 424
Contents
IX
Chapter 7 Experimental Economics across Subject Populations 435
Guillaume R. Fréchette
I. Introduction 435
II. Infrahumans 438
II. A. Methodological Notes 443
III. Children 444
III. A. Methodological Notes 449
IV. Token Economies 449
IV. A. Methodological Notes 451
V. Elderly 451
V. A. Methodological Notes 455
VI. Highly Demographically Varied (Representative) Sample 455
VI. A. Methodological Notes 460
VII. Subjects with Relevant Task Experience 461
VILA. Methodological Notes 468
VIII. Discussion 468
VIII.A. Individual Choice 469
VIII.B. Games 470
IX. Conclusion 471
Acknowledgments 472
Notes 472
References 475
Chapter 8 Gender 481
Muriel Niederle
I. Introduction 481
II. Gender Differences in Competitiveness 485
II. A. Do Women Shy Away from Competition? 486
II.B. Replication and Robustness of Women Shying Away
from Competition 489
II.C. Reducing the Gender Gap in Tournament Entry 492
II.D. Performance in Tournaments 497
ILE. Field Experiments on Gender Differences in Competitiveness 503
II. F. External Relevance of Competitiveness 504
III. Gender Differences in Selecting Challenging Tasks and
Speaking Up 507
III. A. Gender Differences in Task Choice 507
III.B. Gender Differences in Speaking up 510
IV. Altruism and Cooperation 512
x • Contents
IV.A. Dictator-Style Games 515
IV.B. Field Evidence and External Relevance of Gender Differences in Giving
519
IV.C. Prisoner’s Dilemma and Public Good Games 520
IV.D. New Directions 523
IV. E. Conclusions 524
V. Risk 525
V. A. Early Work and Surveys by Psychologists 527
V.B. Early and Most Commonly Used Elicitation Methods in Economics 530
V.C. Early Economic Surveys 533
V.D. Recent Economic Surveys and Meta-Analyses on Specific
Elicitation Tasks 535
V.E. Stability of Risk Preferences and Their External Relevance 538
V.F. An Example of a Careful Control for Risk Aversion 543
V.G. Conclusions 545
VI. Conclusions 546
Acknowledgments 547
Notes 547
References 553
Chapter 9 Auctions: A Survey of Experimental Research 563
John H. Kagel and Dan Levin
INTRODUCTION 563
I. Single-Unit Private Value Auctions 564
1.1. Bidding above the RNNE in First-Price Private Value Auctions 565
1.2. Bidding above the RNNE and Regret Theory 568
1.3. Using Experimental Data to Corroborate Maintained Hypotheses in
Empirical Applications to Field Data 569
1.4. Second-Price Private Value Auctions 570
1.5. Asymmetric Private Value Auctions 572
1.6. Sequential Auctions 576
1.7. Procurement Auctions 578
1.8. Cash-Balance Effects and the Role of Outside Earnings On Bids 580
1.9. An Unresolved Methodological Issue 581
II. Single-Unit Common Value Auctions 582
2.1. English Auctions 583
2.2. Auctions with Insider Information 587
2.3. Common Value Auctions with an Advantaged Bidder 588
2.4. New Results in the Takeover Game: Theory and Experiments 590
2.5. Additional Common Value Auction Results 592
2.6. Is the Winner’s Curse Confined to College Sophomores? 596
III. Multiunit-Demand Auctions 598
3.1. Auctions with Homogeneous Goods—Uniform Price and Vickrey
Auctions 598
3.2. More on Multiunit-Demand Vickrey Auctions 604
Contents
XI
3.3. Auctions with Synergies 605
3.4. Sequential Auctions with Multiunit-Demand Bidders 607
IV. Additional Topics 610
4.1. Collusion in Auctions 610
4.2. Bidder’s Choice Auctions: Creating Competition Out of Thin Air 615
4.3. Internet Auctions 617
4.4. Entry into Auctions 619
V. Summary and Conclusions 623
Acknowledgments 623
Notes 623
References 629
Chapter 10 Learning and the Economics of Small Decisions 638
Ido Erev and Ernan Haruvy
INTRODUCTION 638
1. The Basic Properties of Decisions from Experience 641
1.1. Six Basic Regularities and a Model 641
1.2. The Effect of Limited Feedback 663
1.3. Two Choice-Prediction Competitions 665
2. Dynamic Environments 668
2.1. The Partial Reinforcement Extinction Effect and Reinforcement
Schedules 668
2.2. Spontaneous Alternation, the Gambler Fallacy, and Response
to Patterns 670
2.3. Negative and Positive Transfer 671
2.4. The Effect of Delay and Melioration 671
2.5. Models of Learning in Dynamic Settings 672
3. Multiple Alternatives and Additional Stimuli 672
3.1. Successive Approximations, Hill Climbing, and the Neighborhood
Effect 672
3.2. Learned Helplessness 674
3.3. Multiple Alternatives with Complete Feedback 675
3.4. The Effect of Additional Stimuli (Beyond Clicking) 675
4. Social Interactions and Learning in Games 677
4.1. Social Interactions Given Limited Prior Information 678
4.2. Learning in Constant-Sum Games with Unique Mixed-Strategy
Equilibrium 680
4.3. Cooperation, Coordination, and Reciprocation 683
4.4. Fairness and Inequity Aversion 687
4.5. Summary and Alternative Approaches 688
5. Applications and the Economics of Small Decisions 688
5.1. The Negative Effect of Punishments 688
5.2. The Enforcement of Safety Rules 689
5.3. Cheating in Exams 691
5.4. Broken Windows Theory, Quality of Life, and Safety Climate 692
XII
Contents
5.5. Hand Washing 692
5.6. The Effect of the Timing of Warning Signs 693
5.7. Safety Devices and the Buying-Using Gap 693
5.8. The Effect of Rare Terrorist Attacks 694
5.9. Emphasis-Change Training, Flight School, and Basketball 695
5.10. The Pat-on-the-Back Paradox 695
5.11. Gambling and the Medium-Prize Paradox 696
5.12. The Evolution of Social Groups 696
5.13. Product Updating 697
5.14. Unemployment 697
5.15. Interpersonal Conflicts and the Description-Experience Gap 698
5.16. Implications for Financial Decisions 699
5.17. Summary and the Innovations-Discoveries Gap 699
6. Conclusion 700
Acknowledgments 701
Notes 701
References 702
Editors and Contributors 717
Illustration Credits 721
Name Index 725
Subject Index 737
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| spelling | The handbook of experimental economics Volume 2 John H. Kagel and Alvin E. Roth, editors Princeton, New Jersey Princeton University Press [2015] xix, 747 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Kagel, John H. 1942- (DE-588)129468428 edt Roth, Alvin E. 1951- (DE-588)124734057 edt (DE-604)BV043857306 2 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029267544&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | The handbook of experimental economics |
| title | The handbook of experimental economics |
| title_auth | The handbook of experimental economics |
| title_exact_search | The handbook of experimental economics |
| title_full | The handbook of experimental economics Volume 2 John H. Kagel and Alvin E. Roth, editors |
| title_fullStr | The handbook of experimental economics Volume 2 John H. Kagel and Alvin E. Roth, editors |
| title_full_unstemmed | The handbook of experimental economics Volume 2 John H. Kagel and Alvin E. Roth, editors |
| title_short | The handbook of experimental economics |
| title_sort | the handbook of experimental economics |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029267544&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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