Partner selection in public goods experiments ∗ (2007)
Giorgio Coricelli A, Dietmar Fehr B, Gerlinde Fellner C, Anna Gunnthorsdottir, Werner Güth, Georg Kirchsteiger
This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
On the evolution of trading institutions : the platform design paradox (2006)
Alos-Ferrer, Carlos, Kirchsteiger, Georg, Walzl, Markus
This paper analyzes a learning model where sophisticated market designers create new trading platforms and boundedly rational traders select among them. We ask wether "Walrasian" platforms, leading...
Employment Duration and Resistance to Wage Reductions : Experimental Evidence (2005)
Burda, Michael, Güth, Werner, Kirchsteiger, Georg, Uhlig, Harald
Pierpaolo Battigalli, Martin Dufwenberg, Oliver Board, Adam Br, A Friedenberg, ...
The motivation of decision makers who care for emotions, reciprocity, or social conformity may depend directly on beliefs (about choices, beliefs, or information). Geanakoplos, Pearce &...
Does learning lead to coordination on market clearing institutions? (2003)
Kirchsteiger, Georg, Alos-Ferrer, Carlos
This paper analyzes the question whether traders learn to coordinate on a trading institution that guarantees market clearing, or whether other market institutions can survive in the long run. While...
Partner Selection in Public Goods Experiments (2003)
Giorgio Coricelli, Dietmar Fehr, Gerlinde Fellner, Werner Güth, Anna Gunnthorsdottir, Georg Kirchsteiger, ...
This paper studies the e#ect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good...
Your Morals Are Your Moods (2001)
Kirchsteiger, Georg, Rigotti, Luca, Rustichini, Aldo
We test the effect of players' moods on their behavior in a gift-exchange game. In the first stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an...
Your Morals are Your Moods (2001)
Georg Kirchsteiger, Luca Rigotti, Aldo Rustichini
We test the e®ect of players ' moods on their behavior in a gift-exchange game. In the ¯rst stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an...
Your Morals are Your Moods (2001)
Georg Kirchsteiger, Georg Kirchsteiger, Luca Rigotti, Luca Rigotti, Aldo Rustichini, Aldo Rustichini
We test the e®ect of players ' moods on their behavior in a gift-exchange game. In the ¯rst stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an...
Reciprocity and Wage Undercutting (2000)
Martin Dufwenberg, Georg Kirchsteiger, Jel D
It is well documented that employers refuse to hire workers who o!er their services at less than the prevailing wage. The received explanation is that workers are motivated by reciprocity } they...
Rules of thumb versus dynamic programming (1999)
Harald Uhlig, Laurence Baker, Patrick Bolton, Martin Browning, Georg Kirchsteiger, ...
This paper studies decision-making with rules of thumb in the context of dynamic decision problems and compares it to dynamic programming. A rule is a fixed mapping from a subset of states into...
Common Agency: Truthful or Natural? (1999)
Georg Kirchsteiger, Andrea Prat, Simon Gäachter, Richard Mckelvey, Rebecca Morton
In a common agency game, several principals try to influence the behavior of an agent. Common agency games typically have multiple equilibria. One class of equilibria, called truthful, has been...
Employment Duration and Resistance to Wage Reductions (1998)
Burda, Michael C., Güth, Werner, Kirchsteiger, Georg, Uhlig, Harald
One of the long-standing puzzles in economics is why wages do not fall sufficiently in recessions so as to avoid increases in unemployment. Put differently, if the competitive market wage declines,...
Employment Duration and Resistance to Wage Reductions (1998)
Burda, Michael C., Güth, Werner, Kirchsteiger, Georg, Uhlig, Harald
One of the long-standing puzzles in economics is why wages do not fall sufficiently in recessions so as to avoid increases in unemployment. Put differently, if the competitive market wage declines,...
A theory of sequential reciprocity (1998)
Martin Dufwenberg, Georg Kirchsteiger
Abstract: Many experimental studies indicate that people are motivated by reciprocity. Rabin (1993) develops techniques for incorporating such concerns into game theory and economics. His model,...
A Theory Of Sequential Reciprocity* (1998)
Martin Dufwenberg Georg, Georg Kirchsteiger, Jel Codes A, Manfred Nermuth, Muriel Niederle, Matthew Rabin, ...
Many experimental studies indicate that people are motivated by reciprocity. Rabin (1993) develops techniques for incorporating such concerns into game theory and economics. His theory is developed...
Do Market Institutions Adapt Efficiently to Transaction Costs?
Georg Kirchsteiger, Muriel Niederle, Jan Potters
We study an experimental market with an endogenous institution. In particular, the information and matching structure of the market is determined by the decisions of the individual traders. We...
Learning to like what you have - explaining the endowment effect
Steffen Huck, Georg Kirchsteiger, Jörg Oechssler
The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous...
Investments into Education - Doing as the Parents Did
Kirchsteiger, Georg, Sebald, Alexander
Empirical evidence suggests that parents with higher levels of education generally also attach a higher importance to the education of their children. This implies an intergenerational chain...
General Equilibrium and the Emergence of (Non) Market Clearing Trading Institutions
Alos-Ferrer, Carlos, Kirchsteiger, Georg
We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing....
Gift Exchange and Reciprocity in Competitive Experimental Markets
Fehr, Ernst, Kirchsteiger, Georg, Riedl, Arno
One of the outstanding results of three decades of laboratory market research is that under rather weak conditions prices and quantities in competitive experimental markets converge to the...
Imperfectly Observable Commitments in n-Player Games
Gueth, Werner, Kirchsteiger, Georg, Ritzberger, Klaus
In a two-stage extensive form game where followers can observe moves by leaders only with noise, pure subgame perfect Nash equilibria of the limiting game without noise may not survive arbitrarily...
Reciprocity as a Contract Enforcement Device: Experimental Evidence
Ernst Fehr, Simon Gachter, Georg Kirchsteiger
Numerous experimental studies indicate that people tend to reciprocate favors and punish unfair behavior. It is hypothesized that these behavioral responses contribute to the enforcement of contracts...
On the Evolution of Market Institutions: The Platform Design Paradox
Alos-Ferrer, Carlos, Kirchsteiger, Georg, Walzl, Markus
This paper analyses a situation where market designers create new trading platforms and traders learn to select among them. We ask whether 'Walrasian' platforms, leading to market-clearing trading...
Involuntary Unemployment and Non-compensating Wage Differentials in an Experimental Labour Market.
Fehr, Ernst, Kirchsteiger, Georg, Riedl, Arno
In this paper, the authors report the results of a series of efficiency wage experiments. Some of the key predictions of the efficiency wage hypothesis are qualitatively confirmed by the data: higher...
Insider Power, Wage Discrimination and Fairness.
Fehr, Ernst, Kirchsteiger, Georg
The exercise of insider power is frequently considered as a major cause of involuntary unemployment. The authors show that under standard assumptions--insiders are selfish and they need not fear the...
Aging Anxiety : Much Ado About Nothing ?
Monika BÜTLER, Georg KIRCHSTEIGER
Social security systems in most industrialized countries face severe financial problems due to adverse demographic changes. The increase in old-age dependency, however, will be spread over a period...
Learning to Like What You Have - Explaining the Endowment Effect
Steffen Huck, Georg Kirchsteiger, Jörg Oechssler
The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous...
On the Evolution of Market Institutions: The Platform Design Paradox
Carlos Alós-Ferrer, Georg Kirchsteiger, Markus Walzl
We study competition among market designers who create new trading platforms, when boundedly rational traders learn to select among them. We ask whether efficient platforms, leading to market -...
Does Learning Lead to Coordination on Market Clearing Institutions?
Kirchsteiger,Georg, Alós-Ferrer,Carlos
This paper analyzes the question whether traders learn to coordinate on a trading institution that guarantees market clearing, or whether other market institutions can survive in the long run. While...
Learning to Like What You Have - Explaining the Endowment Effect
Steffen Huck, Georg Kirchsteiger, Joerg Oechssler
The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous...
Georg Kirchsteiger, Luca Rigotti, Aldo Rustichini
We test the effect of players' moods on their behavior in a gift-exchange game. In the first stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an...
Insider Power, Wage Discrimination, and Fairness
Ernst Fehr, Georg Kirchsteiger
Insider Power, Wage Discrimination, Fairness
Employment Duration and Resistance to Wage Reductions: Experimental Evidence
Michael Burda, Werner Güth, Georg Kirchsteiger, Harald Uhlig
One of the long-standing questions in economics is whether or not wages will fall sufficiently in recessions so as to avoid increases in unemployment. Put differently, if the competitive market wage...
On the Formation of Political Coalitions
Georg Kirchsteiger, Clemens Puppe
The paper analyses the process of coalition formation among political parties using game-theoretic concepts. Two different motives determining that process are distinguished: the parties' preferences...
Georg Kirchsteiger, Luca Rigotti, Aldo Rustichini
We test the effect of players' moods on their behavior in a gift-exchange game. In the first stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an...
Rudolf Kerschbamer, Georg Kirchsteiger
The idea that the final distribution of the tax burden (economic incidence) does not depend on the initial distribution of tax liabilities (statutory incidence) is referred to as the Liability Side...
Other-Regarding Preferences in General Equilibrium
Dufwenberg, Martin, Heidhues, Paul, Kirchsteiger, Georg, Riedel, Frank, Sobel, Joel
We study competitive market outcomes in economies where agents have other-regarding preferences. We identify a separability condition on monotone preferences that is necessary and sufficient for...
Does Learning Lead to Coordination in Market Clearing Institutions?
Carlos Alós-Ferrer, Georg Kirchsteiger
This paper analyzes the question of whether traders learn to coordinate on a trading institution that guarantees market clearing, or whether other market institutions can survive in the long run....
Other-Regarding Preference in General Equilibrium
Martin Dufwenberg, Paul Heidues, Georg Kirchsteiger, Frank Riedel, Joel Sobel
We study competitive market outcomes in economies where agents have other-regarding preferences. We identify a separability condition on monotone preferences that is necessary and sufficient for...
Decision-making Procedures: A General Theory and Its Field Experimental Test
Aldashev, Gani, Kirchsteiger, Georg, Sebald, Alexander
It is a persistent finding in psychology and experimental economics that people's behavior is not only shaped by outcomes but also by decision-making procedures. In this paper we develop a general...