|Bargaining and Trust: The Effects of 36-H Total Sleep Deprivation on Socially Interactive Decisions
||Although it is well known that sleep loss results in poor judgement and decisions, little is known about the influence of social context in these processes. Sixteen healthy young adults underwent three games involving bargaining (‘Ultimatum’ and ‘Dic...
|A Bargaining Experiment to Motivate Discussion on Fairness
||The author presents a classroom version of the popular research game called the Ultimatum Game. Researchers are placing growing importance on how fairness affects behavior, and this experiment provides a useful, fun, and engaging way in which a day o...
|Bargaining Outcomes with Double-Offer Arbitration
||Increasingly, arbitration is becoming used to resolve bargaining disputes in a variety of
settings. Reducing dispute rates is often listed as a main goal in designing arbitration
mechanisms. Conventional arbitration and final-offer arbitration are ...
|The Carrot vs. the Stick in Work Team Motivation
||This paper reports on the use of carrot (positive) and stick (negative) incentives as
methods of increasing effort among members of work teams. We study teams of four members
in a laboratory environment in which giving effort towards the team goal ...
|The Chilling Effect of Optimism: The Case of Final-Offer Arbitration
||This article examines the incentive effects of final-offer arbitration (FOA) when disputants have optimistic (i.e., biased) beliefs about the arbitrator's settlement preferences. Optimism is shown to increase the divergence in Nash equilibrium final ...
|A Comparison of Conventional, Final-Offer, and “Combined” Arbitration for Dispute Resolution
||Two widely used forms of arbitration are conventional arbitration, in which the arbitrator makes an unconstrained settlement choice, and final-offer arbitration, in which the arbitrator must choose between disputants' final offers. Under an innovativ...
|Does Fact-Finding Promote Settlement? Theory and a Test
||Nonbinding recommendations, such as provided by fact-finders, are shown to significantly increase voluntary settlements in bargaining. Theoretically, it is unclear whether recommendations will increase settlement rates. A recommendation may reduce ou...
|The Effects of Beliefs versus Risk Attitude on Bargaining Outcomes
||In bargaining environments with uncertain disagreement or “impasse” outcomes (e.g., litigation or labor strike outcomes), there is an identification problem that confounds data interpretation. Specifically, the minimally acceptable settlement value f...
|The Effects of One Night of Sleep Deprivation on Known-Risk and Ambiguous-Risk Decisions
||Sleep deprivation has been shown to alter decision-making abilities. The majority of research has utilized fairly complex tasks with the goal of emulating ’real-life’ scenarios. Here, we use a Lottery Choice Task (LCT) which assesses risk and ambigui...
|The Effects of Total Sleep Deprivation on Bayesian Updating
||Subjects perform a decision task (Grether, 1980) in both a well-rested and experimentally sleep-deprived state. We have two main results: 1) final choice accuracy is unaffected by sleep deprivation, and yet 2) the estimated decision model differs sig...
|Experiment Timing and Preferences for Fairness
||Classroom experiments examining fairness preferences [Andreoni, J., Miller, J., 2002. Giving according to GARP: an experimental test of the consistency of preferences for Altruism. Econometrica 70 (2), 737–753] were conducted to examine two issues: f...
|An Experimental Examination of Labor Supply and Work Intensities
||Estimated negative substitution effects on work hours question the
empirical validity of the classical labor supply model. Estimates are
reconciled by allowing a dual choice of hours and effort for piecerate
workers. In such a model, these negativ...
|Illustrated Examples of the Effects of Risk Preferences and Expectations on Bargaining Outcomes
||The author highlights bargaining examples that use expected utility theory. Bargainer payoffs in the event of a dispute are represented by a simple lottery. Expectations are assumed to affect a bargainer's subjective probabilities over lottery outcom...
|Knowledge Management and Comparative International Strategies on Vertical Information Flow in the Global Food System
|Meat Traceability: Are U.S. Consumers Willing To Pay for It?
||This article reports the results from a series of laboratory auction markets in which consumers bid on meat characteristics. The characteristics examined include meat traceability (i.e., the ability to trace the retail meat back to the farm or animal...
|Monitoring Decrease Work Effort? The Complementarity Between Agency and Crowding-Out Theories
||Agency theory assumes that tighter monitoring by the principal should motivate agents to increase their effort, whereas the “crowding-out” literature suggests that the opposite may occur. These two assertions are not necessarily contradictory provide...
|Negative Values in Vickrey Auctions
||Some people assign negative values for new products sold on laboratory auction blocks
(i.e., irradiated meat). We explore bidding behavior in two Vickrey auctions when
people have positive and negative induced values for the good. Aggregate bidding...
|Nonbinding Suggestions: The Relative Effects of Focal Points versus Uncertainty Reduction on Bargaining Outcomes
||This paper focuses on the effects of nonbinding recommendations on bargaining outcomes. Recommendations are theorized to have two effects: they can create a focal point for final bargaining positions, and they can decrease outcome uncertainty should ...
|On-the-Job Leisure as a Cause of Asymmetric Observed Effort Distributions
||When employers observe imperfect measures of worker effort, theorists typically assume
that observed effort is unimodal and symmetrically distributed. Though observable effort may
be distributed in different ways within a work day, for example, ava...
|Rationality Around the Clock: Sleep and Time-of-Day Effects on Guessing Game Responses
||We administer an online Guessing Game collecting responses across all 24 h of the day. While time-of-day itself does not affect guesses, when including trait-level sleepiness and previous night sleep, adverse sleep states lead to responses significan...
|Statistical Discrimination in Labor Markets: An Experimental Analysis
||This article reports results from controlled laboratory experiments designed to study second-moment (that is, risk-based) statistical discrimination in a labor market setting. Since decision makers may not view risk in the same way as economists or s...
|Traceability in the Canadian Red Meat Sector: Do Consumers Care?
||Increased traceability of food and food ingredients through the agri-food chain has featured in recent industry initiatives in the Canadian livestock sector and is an important facet of the new Canadian Agricultural Policy Framework (APF). While trac...
|Ultimatum Decision-Making: A Test of Reciprocal Kindness
||While fairness is often mentioned as a determinant of ultimatum bargaining behavior,
few data sets are available that can test theories that incorporate fairness considerations. This paper tests the reciprocal kindness theory in Rabin (1993) as an a...
|The Voluntary Contributions Mechanism with Uncertain Group Payoffs
||This paper reports the results of an experimental study which introduces an endogenous probability of public good provision into the voluntary contributions mechanism. Specifically, the two treatments allow for nonprovision even with positive contrib...
|What is Fair? Experimental Evidence
||There has been growing interest within the economics discipline in the role of equity concerns in the distribution of resources. This paper presents empirical evidence from controlled laboratory experiments where third-party decision makers allocate ...