Bilateral bargaining situations are of great importance in reality. Traditional microeconomics, however, make cognitive and motivational assumptions of subjects` full rationality that are revealed as being unrealistic by a growing number of experimental investigations. The present book adds an important contribution to the understanding of principles of boundedly rational behavior by directly observing groups of subjects in a decision situation and videotaping their discussions. A very important result of the book is that the behavior of subjects is guided by aspirations regarding the final outcome. The levels of aspirations are influenced by prominence and different forms of the equity principle resulting in several fairness norms as to the allocation of the amount of money to be divided. Another important feature of the book stems from the analysis of break off discussions and enables a motivational explanation of the emergence of breakdowns in bargaining.

Put a stop to self-sabotage and overcome your fears so that you can gain the confidence you need to reach your goals and become your own best friend. Too many people seem to believe that they are not allowed to put themselves first or go after their own dreams out of fear of being selfish or sacrificing others' needs. The Self-Love Experiment rectifies this problem. Whether you want to achieve weight loss, land your dream job, find your soul mate, or get out of debt, it all comes back to self-love and accepting yourself first. Shannon Kaiser learned the secrets to loving herself, finding purpose, and living a passion-filled life after recovering from eating disorders, drug addictions, corporate burnout, and depression. Shannon walks you through her own personal experiment, a simple plan that compassionately guides you through the process of removing fear-based thoughts, so you can fall in love with life. If you want to change your outcome in life, you have to change your daily habits and perspective. Shannon takes you on this great journey into self-love and true self-acceptance.

Reinhard Selten, to date the only German Nobel Prize laureate in economics, celebrates his 80th birthday in 2010. While his contributions to game theory are well-known, the behavioral side of his scientific work has received less public exposure, even though he has been committed to experimental research during his entire career, publishing more experimental than theoretical papers in top-tier journals. This Festschrift is dedicated to Reinhard Selten’s exceptional influence on behavioral and experimental economics. In this collection of academic highlight papers, a number of his students are joined by leading scholars in experimental research to document the historical role of the “Meister” in the development of the research methodology and of several sub-fields of behavioral economics. Next to the academic insight in these highly active fields of experimental research, the papers also provide a glance at Reinhard Selten’s academic and personal interaction with his students and peers.

Experimental Economics has experienced a steadily growing interest by economists during the last decade. This may not surprise since laboratory and field experiments obviously provide a further valuable source of empirical evidence of economic behavior besides statistics, econometrics, polls, interviews and simulations. In an overview of the recent developments in Experimental Economics, the present book concentrates on three central themes standing in the actual research focus: bargaining, cooperation and election markets. For each one of these topics the volume presents several state-of-the-art survey articles by experts in the field, accompanied by detailed comments. While the experimental approach sheds new light on the microeconomic standard topics of bargaining and cooperation, the election market approach as a new field may provide better forecasts for political elections - and for soccer World Championships.

How tech companies like Google, Airbnb, StubHub, and Facebook learn from experiments in our data-driven world—an excellent primer on experimental and behavioral economics Have you logged into Facebook recently? Searched for something on Google? Chosen a movie on Netflix? If so, you've probably been an unwitting participant in a variety of experiments—also known as randomized controlled trials—designed to test the impact of different online experiences. Once an esoteric tool for academic research, the randomized controlled trial has gone mainstream. No tech company worth its salt (or its share price) would dare make major changes to its platform without first running experiments to understand how they would influence user behavior. In this book, Michael Luca and Max Bazerman explain the importance of experiments for decision making in a data-driven world. Luca and Bazerman describe the central role experiments play in the tech sector, drawing lessons and best practices from the experiences of such companies as StubHub, Alibaba, and Uber. Successful experiments can save companies money—eBay, for example, discovered how to cut $50 million from its yearly advertising budget—or bring to light something previously ignored, as when Airbnb was forced to confront rampant discrimination by its hosts. Moving beyond tech, Luca and Bazerman consider experimenting for the social good—different ways that governments are using experiments to influence or “nudge” behavior ranging from voter apathy to school absenteeism. Experiments, they argue, are part of any leader's toolkit. With this book, readers can become part of “the experimental revolution.”

Questions about the origins of human cooperation have long puzzled and divided scientists. Social norms that foster fair-minded behavior, altruism and collective action undergird the foundations of large-scale human societies, but we know little about how these norms develop or spread, or why the intensity and breadth of human cooperation varies among different populations. What is the connection between social norms that encourage fair dealing and economic growth? How are these social norms related to the emergence of centralized institutions? Informed by a pioneering set of cross-cultural data, Experimenting with Social Norms advances our understanding of the evolution of human cooperation and the expansion of complex societies. Editors Jean Ensminger and Joseph Henrich present evidence from an exciting collaboration between anthropologists and economists. Using experimental economics games, researchers examined levels of fairness, cooperation, and norms for punishing those who violate expectations of equality across a diverse swath of societies, from hunter-gatherers in Tanzania to a small town in rural Missouri. These experiments tested individuals’ willingness to conduct mutually beneficial transactions with strangers that reap rewards only at the expense of taking a risk on the cooperation of others. The results show a robust relationship between exposure to market economies and social norms that benefit the group over narrow economic self-interest. Levels of fairness and generosity are generally higher among individuals in communities with more integrated markets. Religion also plays a powerful role. Individuals practicing either Islam or Christianity exhibited a stronger sense of fairness, possibly because religions with high moralizing deities, equipped with ample powers to reward and punish, encourage greater prosociality. The size of the settlement also had an impact. People in larger communities were more willing to punish unfairness compared to those in smaller societies. Taken together, the volume supports the hypothesis that social norms evolved over thousands of years to allow strangers in more complex and large settlements to coexist, trade and prosper. Innovative and ambitious, Experimenting with Social Norms synthesizes an unprecedented analysis of social behavior from an immense range of human societies. The fifteen case studies analyzed in this volume, which include field experiments in Africa, South America, New Guinea, Siberia and the United States, are available for free download on the Foundation’s website:www.russellsage.org.

Experimental Economics: Financial Markets, Auctions, And Decision Making is based on research presented at the 20th Arne Ryde Symposium on Experimental Economics, held on November 9-11 at Lund University. The volume is divided into two parts. In Part I, interviews with prominent researchers in the field, all invited speakers at the Symposium, are presented. Those interviewed are Peter Bohm, Catherine Eckel, Werner Güth, John Hey, Daniel Kahneman, Alvin Roth, Vernon Smith, and Martin Weber. The interviews address important questions about basic experimental methods and the interpretation of results. In addition, these researchers answer questions relating to their specific fields and to their contributions at the Symposium. They are also asked to single out the most important findings in the field. Part II contains selected contributions from the conference. Topics covered include attitudes towards risk and inequality; pitfalls in experimental economics; analysis of trading-period duration; robustness in learning; video experiments on decision making and fairness; sequential prisoners' dilemmas; and collusion in auctions.