Experimental Economics: Financial Markets, Auctions, and Decision Making, Softcover reprint of the original 1st ed. 2002 Interviews and Contributions from the 20th Arne Ryde Symposium

I Interviews with Invited Speakers.- 1 Peter Bohm.- 2 Catherine C. Eckel.- 3 Werner Güth.- 4 John Hey.- 5 Daniel Kahneman.- 6 Alvin Roth.- 7 Vernon Smith.- 8 Martin Weber.- II Contributions.- 9 Attitudes towards Risk and Inequality.- 1 Introduction.- 2 Theoretical Background.- 2.1 Inequality and Risk.- 2.2 The Meaning of Inequality and of Risk.- 2.3 An Axiomatic Approach.- 3 The Experiment.- 3.1 Issues.- 3.2 Implementation.- 4 Data.- 5 Numerical responses and the Principle of Transfers.- 5.1 Descriptive results.- 5.2 Regression Analysis.- 6 Numerical Responses: variation by Type of Income Transfer.- 6.1 Descriptive Analysis.- 6.2 Regression Analysis.- 6.3 A provisional evaluation.- 7 The Verbal Question.- 7.1 The structure of the question.- 7.2 Verbal question: descriptive results.- 7.3 Regression analysis.- 8 Conclusions.- 1 Variable definitions.- 2 The Questionnaires.- 10 Pitfalls in Experimental Economics.- 1 Introduction.- 2 Monetary Incentive Levels.- 3 Subjects.- 4 Testing Theory in Context or Non-Context Environments.- 5 Stationary Repetitions.- 6 Concluding Remarks.- 11 The Effect of Trading Period Duration.- 1 Introduction.- 2 Relevant Literature and Research Hypotheses.- 3 Experimental Design.- 3.1 Overview of Experimental Procedures and Design.- 3.2 Experimental Markets.- 3.3 Participants and Motivation.- 3.4 Specific Market Designs.- 4 Analysis and Results.- 4.1 Data Considerations.- 4.2 Experimental Markets Group One (PN Markets).- Volume of Trade.- Informational Efficiency.- Allocational Efficiency.- 4.3 Experimental Markets Group Two (IN Markets).- Volume of Trade.- Informational Efficiency.- Allocational Efficiency.- 4.4 Experimental Markets Groups Three and Four.- 5 Discussion and Conclusions.- 12 Robust Learning Experiments.- 1 Introduction.- 2 Auctions and Fair Division Games.- 3 Reputation formation.- 4 Endogenous timing in bilateral negotiations.- 5 Alternating offer bargaining.- 6 Discussion.- 13 The Impact of Fairness on Decision Making.- 1 Introduction.- 2 Relevant Literature.- 3 Method.- 4 Experimental design.- 4.1 The Ultimatum Game.- 4.2 The Tripled Take Game.- 4.3 An Alternating Offer Bargaining Game.- 4.4 Procedure.- 5 Results.- 5.1 Fairness is synonymous to equity.- 5.2 The influence of fairness on decision making.- 6 Conclusion.- 14 The Sequential Prisoners’ Dilemma.- 1 Introduction.- 2 Previous Experiments.- 3 Models and Predictions.- 3.1 Inequality Aversion.- 3.2 Altruism.- 4 Experimental Design.- 5 Results.- 6 Conclusions.- 15 Collusion in Auctions.- 1 Introduction.- 2 The Game.- 2.1 Nash Equilibria of the Stage Game.- 2.2 Collusion in the Repeated Game.- Simple collusion.- Efficient collusion.- 3 The Experimental Design.- 3.1 Hypotheses.- 4 Results.- 4.1 Average Earnings.- 4.2 Bidding Behavior.- 4.3 Bidding Proposals.- Round 1 data.- Overall data.- 4.4 Value Messages.- 4.5 Sidepayments.- 5 Conclusion.- Appendix: Collusion in Equilibrium.- Incentives to tell the truth.- Incentives to bid low.- Incentives to give sidepayments.