This book details the results of the authors' research using laboratory animals to investigate individual choice theory in economics: consumer-demand and labor-supply behavior and choice under uncertainty. The use of laboratory animals provides the opportunity to conduct controlled experiments involving precise and demanding tests of economic theory with rewards and punishments of real consequence. Economic models are compared to psychological and biological choice models along with the results of experiments testing between these competing explanations.
This book details the results of the authors' research using laboratory animals to investigate individual choice theory in economics: consumer-demand ...
The second volume in this series comprises eleven contributions devoted to interrelations between economics and psychology and to the use of laboratory experimental methods for investigating economic outcomes in a market context. They study market behavior, the regulation of monopolistic enterprises
The second volume in this series comprises eleven contributions devoted to interrelations between economics and psychology and to the use of laborator...
Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet...
Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levi...
