Tibor Neugebauer

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The responsibility for the contents of the working papers rests with the author, not the Institute. Since working papers are of a preliminary nature, it may be useful to contact the author of a particular working paper about results or caveats before referring to, or quoting, a paper. Any comments on working papers should be sent directly to the author.(More)
This paper investigates experimentally the extraction-decisions of a sole-owner of a fishery, the population dynamics of which behave according to the standard deterministic logistic growth model. Four treatments were implemented which differed in the level of information supplied to the experimental subjects. The theoretical solution was used to evaluate(More)
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Experimental and empirical evidence identifies social preferences and proposes competing models of such preferences. We find that participants match the contributions of others in the voluntary contribution mechanism (VCM). We also examine a game with different equilibria, the weakest link mechanism (WLM). Here, in contrast, participants match the minimum(More)
We study fairness and reciprocity in a Hawk-Dove game. A variety of recent models gives the same predictions for this game. This allows us to provide a general classification of individuals' types. Contrary to a large number of studies on different games over the last decade, we observe a large group of subjects behaving in a self-interested and rational(More)
We report on a series of experiments that test the effects of an uncertain supply on the formation of bids and prices in sequential first-price auctions with private-independent values and unit-demands. Supply is assumed uncertain when buyers do not know the exact number of units to be sold (i.e., the length of the sequence). Although we observe a(More)
In financial markets, professional traders leverage their trades because it allows to trade larger positions with less margin. Violating margin requirements, however, triggers a margin call and open positions are automatically covered until requirements are met again. What impact does margin trading have on the price process and on liquidity in financial(More)