The costs and benefits of symmetry in common-ownership allocation problems

被引:5
|
作者
Brown, Alexander L. [1 ]
Velez, Rodrigo A. [1 ]
机构
[1] Texas A&M Univ, Dept Econ, College Stn, TX 77843 USA
关键词
Experimental economics; No-envy; Divide-and-choose; Winner's-bid auction; Behavioral mechanism design; NORMAL-FORM GAMES; FAIR DIVISION; PARTNERSHIP DISSOLUTION; INDIVISIBLE GOODS; MARKET; EQUILIBRIUM; MECHANISMS; AUCTIONS;
D O I
10.1016/j.geb.2016.01.008
中图分类号
F [经济];
学科分类号
02 ;
摘要
In experimental partnership dissolution problems with complete information, the divide and-choose mechanism is significantly superior to the winner's-bid auction. The performance of divide-and-choose is mainly affected by reciprocity issues and not by bounded rationality. The performance of the winner's-bid auction is significantly affected by bounded rationality. Contrary to theoretical predictions divide-and-choose exhibits no first mover bias. (C) 2016 Elsevier Inc. All rights reserved.
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页码:115 / 131
页数:17
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