Do market conditions affect preferences? Evidence from experimental markets with excess supply and excess demand

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• dc.contributor.author Brandts, Jordica
• dc.contributor.author Charness, Garyca
• dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
• dc.date.accessioned 2017-07-26T10:51:05Z
• dc.date.available 2017-07-26T10:51:05Z
• dc.date.issued 2000-06-01
• dc.date.modified 2017-07-23T02:05:37Z
• dc.description.abstract We study whether people's preferences in an unbalanced market are affected by whether they are on the excess supply side or the excess demand side of the market. Our analysis is based on the comparison of behavior between two types of experimental gift exchange markets, which vary only with respect to whether first or second movers are on the long side of the market. The direction of market imbalance could influence subjects' motivation, as second movers, workers, might react differently to favorable actions by first movers, firms, in the two cases. Our data show strong deviations from the standard game-theoretic prediction. However, we only find secondary treatment effects. First movers are not more generous when they are in excess supply and second movers do not respond less favorably when they are in excess demand. Competition has only minor psychological effects in our data.
• dc.format.mimetype application/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=491
• dc.identifier.uri http://hdl.handle.net/10230/446
• dc.language.iso eng
• dc.relation.ispartofseries Economics and Business Working Papers Series; 491
• dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• dc.subject.keyword experiment
• dc.subject.keyword unbalanced markets
• dc.subject.keyword cooperation
• dc.subject.keyword gift--exchange
• dc.subject.keyword leex
• dc.subject.keyword Behavioral and Experimental Economics
• dc.title Do market conditions affect preferences? Evidence from experimental markets with excess supply and excess demandca
• dc.type info:eu-repo/semantics/workingPaper