How to make experimental economics research more reproducible: lessons from other disciplines and a new proposal

Efforts in the spirit of this special issue aim at improving the reproducibility of experimental economics, in response to the recent discussions regarding the “research reproducibility crisis.” We put this endeavour in perspective by summarizing the main ways (to our knowledge) that have been proposed – by researchers from several disciplines – to alleviate the problem. We discuss the scope for economic theory to contribute to evaluating the proposals. We argue that a potential key impediment to replication is the expectation of negative reactions by the authors of the individual study, and suggest that incentives for having one’s work replicated should increase

BMW – Mastering the Crises with “New Efficiency?”

Purpose Make a contribution on company business models and typical reactions to economic crises. Design/methodology/approach Media-analysis-based case study. Findings Crisis is handled through drawing on a strategy deriving from the typical features of the company; through the crisis these features are even intensified. Research limitations/implications Multinational companies are complex and only transparent to a small degree; the empirical data therefore rests on a database with articles. Social implications Social implications can be seen at the BMW as a functioning example for social partnership as a form of economic embeddedness at the societal level

Rabin's Paradox for Health Outcomes

Many health economic studies assume expected utility maximisation, with typically a concave utility function to capture risk aversion. Given these assumptions, Rabin's paradox (RP) involves preferences over mixed gambles yielding moderate outcomes, where turning down such gambles imply absurd levels of risk aversion. Although RP is considered a classic critique of expected utility, no paper has as of yet fully tested its preferences within individuals. In an experiment we report a direct test of RP in the health domain, which was previously only considered in the economic literature, showing it may have pervasive implications here too. Our paper supports the shift towards alternat

A probabilistic analysis of argument cogency

This paper offers a probabilistic treatment of the conditions for argument cogency as endorsed in informal logic: acceptability, relevance, and sufficiency. Treating a natural language argument as a reason-claim-complex, our analysis identifies content features of defeasible argument on which the RSA conditions depend, namely: change in the commitment to the reason, the reason’s sensitivity and selectivity to the claim, one’s prior commitment to the claim, and the contextually determined thresholds of acceptability for reasons and for claims. Results contrast with, and may indeed serve to correct, the informal understanding and applications of the RSA criteria concerning their conceptual dependence, their function as update-thresholds, and their status as obligatory rather than permissive norms, but also show how these formal and informal normative approachs can in fact align

Trace-elemental and multi-isotopic (Sr-Nd-Pb) discrimination of jade in the circum-Caribbean: Implications for pre-colonial inter-island exchange networks

Dense and strong, hydrothermal-metasomatic jadeitite and jadeite-omphacite rocks were used as tools and adornments throughout the wider Caribbean since initial inhabitation. Regionally, rich sources of jadeitite and jadeite-omphacite jade are known only in Guatemala (north and south of the Motagua Fault Zone), eastern Cuba and the northern Dominican Republic, establishing that humans transported jadeitic material over vast distances. This study validates that geochemical fingerprinting is a viable provenance method for Caribbean pre-colonial jadeitic lithologies. An assemblage of 101 source rocks has been characterised for trace element and combined Sr-Nd-Pb isotope compositions. Four statistical approaches (Principal Component Analysis, t-Distributed Stochastic Neighbour Embedding, Decision Tree, and Multiclass Regression) were assessed, employing source-distinct trace element ratios. A multiclass regression technique based on trace element ratios of immobile high field strength, light to medium rare earth and fluid-mobile, large-ion-lithophile elements is shown to be most effective in discriminating the four source regions. Ninety-one % of the Guatemalan samples can be discriminated from the Dominican and Cuban sources using La/Th, Zr/Hf and Y/Th ratios. Jadeitic rocks cropping out in the Dominican Republic can be distinguished from Cuban jades employing Er/Yb, Nb/Ta and Ba/Rb ratios with 71% certainty. Furthermore, the two Guatemala sources, north and south of the Motagua Fault Zone, can be discriminated by using (among others) Zr/Hf, Ta/Th, La/Sm and Dy/Y ratios with an 89% success rate. This raises the possibility of determining, in detail, former trading and mobility networks between different islands and the Meso- and Central American mainland within the Greater Caribbean. The provenance technique was applied to 19 pre-colonial jade celts excavated from the Late Ceramic Age Playa Grande archaeological site in the northern Dominican Republic. Three artefacts are discriminated as derived from the Guatemalan source, indicating that, despite a source of jade within 25 km, material was traded from Guatemala. The presence of Guatemalan jade in the Playa Grande lithic assemblage provides further evidence of large scale (>3000 km), regional trading and indigenous knowledge transfer networks.This research received funding from the European Research Council under the European Union’s Seventh Framework Programme (FP7/2007–2013)/ERC grant agreement No 319209 (ERC-Synergy NEXUS 1492) and the European Union’s Horizon 2020 research and innovation programme under grant agreement No 654208 (Europlanet 2020 RI). We are grateful to the Museo del Hombre Dominicano for providing the Playa Grande samples. Thanks to Richard Smeets, Bas van der Wagt, Kirsten van Zuilen, Bouke Lacet, Eva Kelderman and Quinty Boosten for analytical assistance

Scale-free memory model for multiagent reinforcement learning. Mean field approximation and rock-paper-scissors dynamics

A continuous time model for multiagent systems governed by reinforcement learning with scale-free memory is developed. The agents are assumed to act independently of one another in optimizing their choice of possible actions via trial-and-error search. To gain awareness about the action value the agents accumulate in their memory the rewards obtained from taking a specific action at each moment of time. The contribution of the rewards in the past to the agent current perception of action value is described by an integral operator with a power-law kernel. Finally a fractional differential equation governing the system dynamics is obtained. The agents are considered to interact with one another implicitly via the reward of one agent depending on the choice of the other agents. The pairwise interaction model is adopted to describe this effect. As a specific example of systems with non-transitive interactions, a two agent and three agent systems of the rock-paper-scissors type are analyzed in detail, including the stability analysis and numerical simulation. Scale-free memory is demonstrated to cause complex dynamics of the systems at hand. In particular, it is shown that there can be simultaneously two modes of the system instability undergoing subcritical and supercritical bifurcation, with the latter one exhibiting anomalous oscillations with the amplitude and period growing with time. Besides, the instability onset via this supercritical mode may be regarded as "altruism self-organization". For the three agent system the instability dynamics is found to be rather irregular and can be composed of alternate fragments of oscillations different in their properties.Comment: 17 pages, 7 figur