Below you may find working papers from the Economic Science Institute at Chapman University.

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Submissions from 2024

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Ambiguity and Ambiguity Attitudes across Auctions, Cary Deck, Paan Jindapon, Tigran Melkonyan, and Mark Schneider

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Cognitive Abilities and Individual Earnings in Hybrid Continuous Double Auctions, Yan Peng, Jason Shachat, Lijia Wei, and S. Sarah Zhang

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How Does Passive Investing Effect the Informational Efficiency of Prices?, Brice Corgnet, Mark DeSantis, Yan Peng, David Porter, and Jason Shachat

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How Personalized Networks Can Limit Free Riding: A Multi-Group Version of the Public Goods Game, Aaron S. Berman, Laurence R. Iannaccone, and Mouli Modak

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Personal Lies, Gary Charness and Ismael Rodriguez-Lara

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Representation and Bracketing in Repeated Games, Mouli Modak

Submissions from 2023

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An Experimental Test of Algorithmic Dismissals, Brice Corgnet

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Choice Flexibility and Long-Run Cooperation, Gabriele Camera, Jaehong Kim, and David Rojo Arjona

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Competing Social Influence in Contested Diffusion: Luther, Erasmus and the Spread of the Protestant Reformation, Sascha O. Becker, Steven Pfaff, Yuan Hsiao, and Jared Rubin

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Deciding for Others: Local Public Good Contributions with Intermediaries, Andrej Angelovski, Praveen Kujal, and Christos Mavridis

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Discrete Rule Learning in First Price Auctions, Jason Shachat and Lijia Wei

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Endogenous Political Legitimacy: The Tudor Roots of England’s Constitutional Governance, Avner Greif and Jared Rubin

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Enlightenment Ideals and Belief in Progress in the Run-up to the Industrial Revolution: A Textual Analysis, Ali Almelhem, Murat Iyigun, Austin Kennedy, and Jared Rubin

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Evolution of Primate Vocal Repertoires: Vocalization Systems as Embodied Capital for Mediating Within-group Conflict, Eric Schniter and Mateo Peñaherrera-Aguirre

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Failed Secular Revolutions: Religious Belief, Competition, and Extremism, Jean-Paul Carvalho, Jared Rubin, and Michael Sacks

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Financial Contagion and Financial Lockdowns, Gabriele Camera and Alessandro Gioffré

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Group Identity and the Formation of Conditional Social Preferences Among Chinese Youth, Timo Heinrich, Jason Shachat, and Qinjuan Wan

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Human-Robot Interactions: Insights from Experimental and Evolutionary Social Sciences, Eric Schniter

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Match Stability with a Costly and Flexible Number of Positions, James Gilmore and David Porter

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Religion and Growth, Sascha O. Becker, Jared Rubin, and Ludger Woessmann

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Suggested versus Extended Gifts: How Alternative Market Institutions Mitigate Moral Hazard, Daniel Houser, Jason Shachat, and Weiwei Zheng

Submissions from 2022

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300 Anniversary of Smith’ Birth, Vernon L. Smith

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A Classical Model of Speculative Asset Price Dynamics, Sabiou M. Inoua and Vernon L. Smith

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Agency, Benevolence and Justice, Prithvijit Mukherjee and J. Dustin Tracy

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Better-than-chance Prediction of Cooperative Behaviour from First and Second Impressions, Eric Schniter and Timothy W. Shields

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Contingent Payments in Procurement Interactions - Experimental Evidence, Matthew J. Walker, Jason Shachat, and Lijia Wei

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Historical Political Economy: What Is It?, Jeffrey Jenkins and Jared Rubin

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How Do Reward Versus Penalty Framed Incentives Affect Diagnostic Performance in Auditing?, Bright (Yue) Hong and Timothy W. Shields

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Inequality as a Barrier to Economic Integration? An Experiment, Gabriele Camera, Lukas Hohl, and Rolf Weder

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Information Aggregation with Heterogeneous Traders, Cary Deck, Tae In Jun, Laura Razzolini, and Tavoy Reid

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Introducing New Forms of Digital Money: Evidence from the Laboratory, Gabriele Camera

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Litigation with Negative Expected Value Suits: An Experimental Analysis, Cary Deck, Paul Pecorino, and Michael Solomon

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Motives for Cooperation in the One-Shot Prisoner’s Dilemma, Mark Schneider and Timothy W. Shields

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Nobel and Novice: Author Prominence Affects Peer Review, Jürgen Huber, Sabiou M. Inoua, Rudolf Kerschbamer, Christian König-Kersting, Stefan Palan, and Vernon L. Smith

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On the Generalizability of Using Mobile Devices to Conduct Economic Experiments, Yiting Guo, Jason Shachat, Matthew J. Walker, and Lijia Wei

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Perishable Goods versus Re-tradable Assets: A Theoretical Reappraisal of a Fundamental Dichotomy, Sabiou M. Inoua and Vernon L. Smith

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Political Legitimacy in Historical Political Economy, Avner Greif and Jared Rubin

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The Doors of Perception: Theory and Evidence of Frame-Dependent Rationalizability, Gary Charness and Alessandro Sontuoso

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The No-Arbitrage Hypothesis and Inertia in Forward Markets, José Luis Ferreira, Praveen Kujal, and Stephen Rassenti

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United We Stand: On the Benefits of Coordinated Punishment, Vicente Calabuig, Natalia Jiménez, Gonzalo Olcina, and Ismael Rodriguez-Lara

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Who Withdraws First? Line Formation During Bank Runs, Hubert János Kiss, Ismael Rodriguez-Lara, and Alfonso Rosa-Garcia

Submissions from 2021

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A Class of N-Player Colonel Blotto Games with Multidimensional Private Information, Christian Ewerhart and Dan Kovenock

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An Experimental Study of Within- and Cross-cultural Cooperation: Chinese and American Play in the Prisoner’s Dilemma Game, Michael Kuroda, Jieran Li, Jason Shachat, Lijia Wei, and Bochen Zhu

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A Reassessment of the Potential for Loss-framed Incentive Contracts to Increase Productivity: A Meta-analysis and a Real-effort Experiment, Paul J. Ferraro and J. Dustin Tracy

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A Simple Measure of Economic Complexity, Sabiou M. Inoua

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Beware the Gini Index! A New Inequality Measure, Sabiou M. Inoua

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Classical Theory of Competitive Market Price Formation, Sabiou M. Inoua and Vernon L. Smith

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Conflict in the Pool: A Field Experiment, Loukas Balafoutas, Marco Faravelli, and Roman Sheremeta

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Culture, Institutions & the Long Divergence, Alberto Bisin, Jared Rubin, Avner Seror, and Thierry Verdier

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Differences in Cognitive Reflection Mediate Gender Differences in Social Preferences, Antonio M. Espín, Valerio Capraro, Brice Corgnet, Simon Gächter, Roberto Hernán-González, Praveen Kujal, and Stephen Rassenti

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Dynamic Resource Allocation with Cost Externality, Hao Zhao and David Porter

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Economics of Majoritarian Identity Politics, Rohit Ticku and Raghul S. Venkatesh

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Economics Students: Self-Selected in Preferences and Indoctrinated in Beliefs, Antonio M. Espín, Manuel Correa, and Alberto Ruiz-Villaverde

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Group-identity and Long-run Cooperation: An Experiment, Gabriele Camera and Lukas Hohl

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In-group versus Out-group Preferences in Intergroup Conflict: An Experiment, Subhashish M. Chowdhury, Anwesha Mukherjee, and Roman M. Sheremeta

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Institutions and Opportunistic Behavior: Experimental Evidence, Antonio Cabrales, Irma Clots-Figueras, Roberto Hernán-González, and Praveen Kujal

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Keeping a Clean Reputation: More Evidence on the Perverse Effects of Disclosure, Cary Deck and J. Dustin Tracy

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Legalized Same-Sex Marriage and Coming Out in America: Evidence from Catholic Seminaries, Avner Seror and Rohit Ticku

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Making It Public: The Effect of (Private and Public) Wage Proposals on Efficiency and Income Distribution, Lara Ezquerra, Joaquín Gómez-Miñambres, Natalia Jiminez, and Praveen Kujal

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Standard vs Random Dictator Games: On the Effects of Role Uncertainty and Framing on Generosity, Ernesto Mesa-Vázquez, Ismael Rodriguez-Lara, and Amparo Urbano

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Strategically Revealing Intentions in General Lotto Games, Keith Paarporn, Rahul Chandan, Dan Kovenock, Mahnoosh Alizadeh, and Jason R. Marden

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The Art of Concession in General Lotto Games, Rahul Chandan, Keith Paarporn, Dan Kovenock, Mahnoosh Alizadeh, and Jason R. Marden

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The Economic Impact of Lockdowns: A Theoretical Assessment, Gabriele Camera and Alessandro Gioffré

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The Influence of Food Recommendations: Evidence from a Randomized Field Experiment, Kamal Bookwala, Caleb Gallemore, and Joaquín Gómez-Miñambres

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Trustors’ Disregard for Trustees Deciding Intuitively or Reflectively: Three Experiments on Time Constraints, Antonio Cabrales, Antonio M. Espín, Praveen Kujal, and Stephen Rassenti

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Uncertainty and Reputation Effects in Credence Goods Markets, Eric Schniter, J. Dustin Tracy, and Vojtěch Zíka

Submissions from 2020

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A Capital Asset Pricing Model with Idiosyncratic Risk and the Sources of the Beta Anomaly, Mark Schneider and Manuel A. Nunez

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Adam Smith’s Theory of Value: A Reappraisal of Classical Price Discovery, Sabiou M. Inoua and Vernon L. Smith

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Age Appropriate Wisdom? Ethnobiological Knowledge Ontogeny in Pastoralist Mexican Choyeros, Eric Schniter, Shane J. Macfarlan, Juan J. Garcia, Gorgonio Ruiz-Campos, Diego Guevara Beltran, Brenda B. Bowen, and Jory C. Lerbak

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All Pay Quality-Bids in Score Procurement Auctions, Dan Kovenock and Jingfeng Lu

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An Elementary Humanomics Approach to Boundedly Rational Quadratic Models, Michael J. Campbell and Vernon L. Smith

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An Empirical Study of the Sentiment Capital Asset Pricing Model, Soroush Ghazi and Mark Schneider

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An Experimental Comparison of News Vending and Price Gouging, Zuzana Brokesova, Cary Deck, and Jana Peliova

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An Experimental Investigation of Health Insurance Policy and Behavior, J. Dustin Tracy, Hillard Kaplan, Kevin A. James, and Stephen Rassenti

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An Experiment on the Neolithic Agricultural Revolution. Causes and Impact on Inequality, Antonio J. Morales and Ismael Rodriguez-Lara

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A Notion of Prominence for Games with Natural-Language Labels, Alessandro Sontuoso and Sudeep Bhatia

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A Test of the Modigliani-Miller Theorem, Dividend Policy and Algorithmic Arbitrage in Experimental Asset Markets, Tibor Neugebauer, Jason Shachat, and Wiebke Szymczak

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A Theory of Cultural Revivals, Murat Iyigun, Jared Rubin, and Avner Seror

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Categorical Salience Theory, Mark Schneider, Cary Deck, and Patrick DeJarnette

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Comorbidity Factors Influence COVID-19 Mortality Much More than Age, Steven Gjerstad and Andrea Molle

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Does Free Information Provision Crowd Out Costly Information Acquisition? It’s a Matter of Timing, Diego Aycinena, Alexander Elbittar, Andrei Gomberg, and Lucas Rentschler

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Financial Reporting and Moral Sentiments, Radhika Lunawat, Timothy W. Shields, and Gregory B. Waymire

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Forecasting Skills in Experimental Markets: Illusion or Reality?, Brice Corgnet, Cary Deck, Mark DeSantis, and David Porter

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Harnessing the Power of Social Incentives to Curb Shirking in Teams, Brice Corgnet, Brian C. Gunia, and Roberto Hernán González

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Information Aggregation and the Cognitive Make-up of Traders, Brice Corgnet, Mark DeSantis, and David Porter

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Institutions, Opportunism and Prosocial Behavior: Some Experimental Evidence, Antonio Cabrales, Irma Clots-Figueras, Roberto Hernán-González, and Praveen Kujal

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Intertemporal Choice Experiments and Large-Stakes Behavior, Diego Aycinena, Szabolcs Blazsek, Lucas Rentschler, and Charles Sprenger

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Let’s Chat... When Communication Promotes Efficiency in Experimental Asset Markets, Brice Corgnet, Mark DeSantis, and David Porter

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Menu-Dependent Food Choices and Food Waste, Hongxing Liu, Joaquín Gómez-Miñambres, and Danyi Qi

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Neoclassical Supply and Demand, Experiments, and the Classical Theory of Price Formation, Sabiou M. Inoua and Vernon L. Smith

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Public Leaderboard Feedback in Sampling Competition: An Experimental Investigation, Stanton Hudja, Brian Roberson, and Yaroslav Rosokha

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Rationally Inattentive Savers and Monetary Policy Changes: A Laboratory Experiment, Andrea Civelli, Cary Deck, and Antonella Tutino

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Reconsidering Rational Expectations and the Aggregation of Diverse Information in Laboratory Security Markets, Brice Corgnet, Cary Deck, Mark DeSantis, Kyle Hampton, and Erik O. Kimbrough

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Reference Dependent Prices in Bargaining: An Experimental Examination of Precise First Offers, Erik O. Kimbrough, David Porter, and Mark Schneider

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Religion in Economic History: A Survey, Sascha O. Becker, Jared Rubin, and Ludger Woessmann

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Shutdown Policies and Worldwide Conflict, Nicolas Berman, Mathieu Couttenier, Nathalie Monnet, and Rohit Ticku

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Speed Traps: Algorithmic Trader Performance Under Alternative Market Structures, Yan Peng, Jason Shachat, Lijia Wei, and S. Sarah Zhang

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Strategic Problems with Risky Prospects, Alessandro Sontuoso, Cristina Bicchieri, Alexander Funcke, and Einav Hart

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The Classical Theory of Supply and Demand, Sabiou M. Inoua and Vernon L. Smith

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The Conservatism Principle and Asymmetric Preferences Over Reporting Errors, Jivas Chakravarthy and Timothy W. Shields