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Outputs (115)

Risk attitudes, sample selection and attrition in a longitudinal field experiment (2017)
Preprint / Working Paper
Harrison, G. W., Lau, M., & Yoo, H. I. (2017). Risk attitudes, sample selection and attrition in a longitudinal field experiment

Longitudinal experiments allow one to evaluate the temporal stability of latent preferences, but raise concerns about sample selection and attrition that may confound inferences about temporal stability. We evaluate the hypothesis of temporal stabili... Read More about Risk attitudes, sample selection and attrition in a longitudinal field experiment.

On the generalizability of using mobile devices to conduct economic experiments (2023)
Journal Article
Guo, Y., Shachat, J., Walker, M. J., & Wei, L. (2023). On the generalizability of using mobile devices to conduct economic experiments. Journal of Behavioral and Experimental Economics, 106, Article 102057. https://doi.org/10.1016/j.socec.2023.102057

Mobile devices enable experimental economists to collect decision-making data from more heterogeneous samples, thereby increasing the generalizability of their results. This generalizability may be compromised if the device is a relevant behavioural... Read More about On the generalizability of using mobile devices to conduct economic experiments.

A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets (2023)
Journal Article
Neugebauer, T., Shachat, J., & Szymczak, W. (2023). A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets. Journal of Banking and Finance, 154(September), Article 106814. https://doi.org/10.1016/j.jbankfin.2023.106814

Modigliani and Miller showed the market value of the company is independent of its capital structure, and suggested that dividend policy makes no difference to this law of one price. We experimentally test the Modigliani-Miller theorem in a complete... Read More about A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets.

Arbitrage bots in experimental asset markets (2022)
Journal Article
Angerera, M., Neugebauer, T., & Shachat, J. (2023). Arbitrage bots in experimental asset markets. Journal of Economic Behavior and Organization, 206, 262-278. https://doi.org/10.1016/j.jebo.2022.12.004

Trading algorithms are an integral component of modern asset markets. In twin experimental markets for long-lived correlated assets we examine the impact of alternative types of arbitrage-seeking algorithms. These arbitrage robot traders vary in thei... Read More about Arbitrage bots in experimental asset markets.

How auctioneers set reserve prices in procurement auctions (2022)
Journal Article
Shachat, J., & Tan, L. (2022). How auctioneers set reserve prices in procurement auctions. European Journal of Operational Research, 304(2), 709-728. https://doi.org/10.1016/j.ejor.2022.04.025

We introduce a behavioral model that effectively predicts auctioneers’ reserve choice patterns in English clock auctions across varying reserve price formats (whether reserve prices are set ex-ante or ex-post auction events), number of bidders and th... Read More about How auctioneers set reserve prices in procurement auctions.

An experimental study of intra- and international cooperation: Chinese and American play in the Prisoner's Dilemma Game (2022)
Journal Article
Kuroda, M., Li, J., Shachat, J., Wei, L., & Zhu, B. (2022). An experimental study of intra- and international cooperation: Chinese and American play in the Prisoner's Dilemma Game. China Economic Review, 74, Article 101807. https://doi.org/10.1016/j.chieco.2022.101807

We study whether intra- and international groups have different cooperation rates in the Prisoner's Dilemma Game. We report on an experiment in which university students in China and America engage in a single iteration of the game, complete belief e... Read More about An experimental study of intra- and international cooperation: Chinese and American play in the Prisoner's Dilemma Game.

Informational price cascades and non-aggregation of asymmetric information in experimental asset markets (2022)
Journal Article
Shachat, J., & Srinivasan, A. (2022). Informational price cascades and non-aggregation of asymmetric information in experimental asset markets. Journal of Behavioral Finance, 23(4), 388-407. https://doi.org/10.1080/15427560.2022.2081970

We report on experimental markets which generate an abject failure of the aggregation of asymmetric information. While realized prices have zero correlation with fundamental values, surprisingly, these are not highly volatile. The non-aggregation of... Read More about Informational price cascades and non-aggregation of asymmetric information in experimental asset markets.

Trust and Trustworthiness in Procurement Contracts with Retainage (2022)
Journal Article
Walker, M. J., Katok, E., & Shachat, J. (2023). Trust and Trustworthiness in Procurement Contracts with Retainage. Management Science, 69(6), 3492–3515. https://doi.org/10.1287/mnsc.2022.4516

In complex procurement projects, it is difficult to write enforceable contracts that condition price upon quality. Supplier non-performance becomes an acute risk, particularly when there is intense competition for the contract. An established incenti... Read More about Trust and Trustworthiness in Procurement Contracts with Retainage.

Cognitive stress and learning economic order quantity inventory management: An experimental investigation (2022)
Journal Article
Pan, J., Shachat, J., & Wei, S. (2022). Cognitive stress and learning economic order quantity inventory management: An experimental investigation. Decision Analysis, 19(3), 229-254. https://doi.org/10.1287/deca.2022.0450

We use laboratory experiments to evaluate the effects of cognitive stress on inventory management decisions in a finite horizon economic order quantity (EOQ) model. We manipulate two sources of cognitive stress. First, we vary individuals’ participat... Read More about Cognitive stress and learning economic order quantity inventory management: An experimental investigation.

How the onset of the Covid-19 pandemic impacted pro-social behaviour and individual preferences: Experimental evidence from China (2021)
Journal Article
Shachat, J., Walker, M., & Wei, L. (2021). How the onset of the Covid-19 pandemic impacted pro-social behaviour and individual preferences: Experimental evidence from China. Journal of Economic Behavior and Organization, 190, 480-494. https://doi.org/10.1016/j.jebo.2021.08.001

We present experimental evidence on how pro-sociality, trust and attitudes towards risk and ambiguity evolved over the six weeks following the imposition of stringent Covid-19 related lockdown measures in the Hubei province of China. We compare incen... Read More about How the onset of the Covid-19 pandemic impacted pro-social behaviour and individual preferences: Experimental evidence from China.