Experimental Economics Volume II: Economic Applications
How do applications affect behavior? Experimental Economics Volume II seeks to answer these questions by examining the auction mechanism, imperfect competition and incentives to understand financial crises, political preferences and elections, and more.
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Experimental Economics Volume II: Economic Applications Edited by
Pablo Branas-Garza Middlesex University London, UK
and
Antonio Cabrales University College London, UK
Translated by Manuel Muñoz-Herrera University of Groningen, The Netherlands
Technical review by David Kernohan Middlesex University London, UK
palgrave
macmillan
Selection and editorial matter © Pablo Branas-Garza and Antonio Cabrales 2016 Chapters © Contributors 2016 Softcover reprint of the hardcover 1st edition 2016 978-1-137-53815-4
Parts of this manuscript were first published in Spanish by Antoni Bosch editor under the title Economia experimental y del comportamiento edited by Pablo Brañas-Garza. This revised edition has been translated by Manuel Muñoz-Herrera, and published under licence from Antoni Bosch editor. The authors have asserted their rights to be identified as the authors of this Work. All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2016 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-56046-2 ISBN 978-1-137-53816-1 (eBook) DOI 10.1057/9781137538161 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress.
To María To Isabel
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Contents List of Figures
viii
List of Tables
ix
Acknowledgments
x
Notes on Contributors
xii
1
Market Organization and Competitive Equilibrium Antoni Bosch-Domènech and Joaquim Silvestre
2
Non-Competitive Markets Nikolaos Georgantzís and Giuseppe Attanasi
21
3
Economic Systems Des
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