This paper reviews experiments that include two types of subjects: professionals and
students. The typical subject pool for economic experiments is composed of students …

Game theory, the formalized study of strategy, began in the 1940s by asking how
emotionless geniuses should play games, but ignored until recently how average people …

We examine learning in all experiments we could locate involving 100 periods or more of
games with a unique equilibrium in mixed strategies, and in a new experiment. We study …

In 'experience‐weighted attraction'(EWA) learning, strategies have attractions that reflect
initial predispositions, are updated based on payoff experience, and determine choice …

The present paper explores situations in which the information available to decision makers
is limited to feedback concerning the outcomes of their previous decisions. The results …

ABSTRACT I analyze the strategic use of debt financing to improve a firm's bargaining
position with an important supplier—organized labor. Because maintaining high levels of …

We compare individuals with two-person teams in signaling game experiments. Teams
consistently play more strategically than individuals and generate positive synergies in more …

This paper reports laboratory data for games that are played only once. These games span
the standard categories: static and dynamic games with complete and incomplete …

Abstract Analysis of binary choice behavior in iterated tasks with immediate feedback
reveals robust deviations from maximization that can be described as indications of 3 …

Research summary: Extending research on the effect of experience on acquisition
outcomes, we examine how the differential in previous M&A experience between the target …