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The paper analyzes the e¤ects of more intense competition on …rms’incentives to invest in process innovations. We carry out experiments for two-stage games, where R&D investment choices are followed by product market competition. As predicted by theory, an increase in the number of …rms from two to four reduces investments. However, a positive e¤ect is(More)
Knowledge Engineering is an important concept in recent years. Knowledge Engineering is the aspect of system engineering which addresses uncertain process requirements by emphasizing the acquisition of knowledge about a process and representing this knowledge in a Knowledge-based System. The purpose of this paper is to discuss how to use the basic(More)
Are monetary and non-monetary incentives used as substitutes in motivating effort? I address this question in a laboratory experiment in which the choice of the job characteristics (i.e., the mission) is part of the compensation package that principals can use to influence agents’ effort. Principals offer contracts that specify a piece rate and a charity—(More)
What makes you a successful cooperator? Using data from the British television game show “Golden Balls” we analyze a prisoner’s dilemma game and its pre-play. We find that players strategically select their partner for the PD, e.g., they bear in mind whether contestants lied. Players’ expectations about the stake size strongly influence the outcome of the(More)
Formal and informal institutions, such as laws and social norms, are pervasive in daily life. They help maintain cooperation by coordinating and constraining individuals’ behaviors. However, our understanding of the comparative benefits and the endogenous emergence of institutions remains limited. Here, we study the emergence and performance of sanctioning(More)
This paper investigates the influence of physical attractiveness on cooperative behavior. We survey data from 211 episodes of a television game show and combine it with independent facial attractiveness ratings of the show’s contestants. The final of the show represents a simultaneous one-shot modified prisoner’s dilemma. Our results show that facially(More)
We theoretically and experimentally study an investment game with fundamental state uncertainty and input complementarities—i.e., a global game environment. Our particular focus is on how a sentiment index, closely modeled after consumer confidence surveys, aggregates private information and influences investment. We find that a sentiment index produces(More)
We design a laboratory experiment to identify causal performance effects of top-down communication between managers and their subordinates. Our focus lies on communication that resolves uncertainty about the work environment but does not provide task-specific knowledge. Recent articles in the business press report a lack of such communication in real-world(More)
Hepatitis B vaccine (Merck, Sharp & Dohm) was administered according to various vaccination schedules to 12 patients in preterminal renal failure without haemodialysis treatment, 81 patients on a chronic haemodialysis programme and 43 staff of a nephrological centre. After three-times vaccination (at 0, 1, 6 months) with 20 micrograms HBs antigen,(More)