Accounting for real wealth in heterogeneous-endowment public good games

Wealth heterogeneity infuences people's behavior in several socioeconomic environments, especially when groups consisting of "unequal" members have to take a collective action which affects all members equally or proportionally. After eliciting real out-of-lab wealth, we form 4-player groups playing an one-shot public good game with heterogeneous laboratory endowments. Endowing subjects according or against their real wealth gives rise to a series of interesting results. Endowment heterogeneity, lack of real relative wealth information and being "rich" both inside and outside the lab raise contributions. Finally, when eliciting subjects' beliefs, we find out that only relatively "poor" subjects expect others to contribute more than what they actually are prepared to do theirselves.Public goods, experiment, endowment heterogeneity, real wealth

Cooperative R&D with Endogenous Technology Differentiation

The choice of a particular technology when there is a set of them available to firms has not appeared in the R&D literature yet. We show some examples and present a model in which firms choose their technologies from a continuum of available profiles and the resulting spillovers depend on the compatibility among firms' R&D technologies. Our results indicate that non-cooperating firms are interested in using the same or very similar technologies. Therefore firms seek to establish coordination mechanisms such as patent pools or Research Joint Ventures. A RJV leads to higher levels of social welfare than patent pools or the non-cooperative case.r&d rjv patent pools cooperation

Accounting for real wealth in heterogeneous-endowment public good games

Wealth heterogeneity infuences people's behavior in several socioeconomic environments, especially when groups consisting of "unequal" members have to take a collective action which affects all members equally or proportionally. After eliciting real out-of-lab wealth, we form 4-player groups playing an one-shot public good game with heterogeneous laboratory endowments. Endowing subjects according or against their real wealth gives rise to a series of interesting results. Endowment heterogeneity, lack of real relative wealth information and being "rich" both inside and outside the lab raise contributions. Finally, when eliciting subjects' beliefs, we find out that only relatively "poor" subjects expect others to contribute more than what they actually are prepared to do theirselves.Financial support was received by the Junta de Andalucia, grant P07-SEJ-003155

The SGG risk elicitation task:Implementation and results

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Psychometric Tests, Decision-making; Lotteries; Risk aversion.

Mixture and distribution of different water qualities: an experiment on vertical structure in a complex market

We report results from experimental markets in which two different...water are supplied to two types of consumers; households and farmers. In the...studied, we very strategic complexity (and centralization) by varying the...of agents per market. Centralization of information by a multiproduct more (scenario I) improves market preformance with respect to a duopoly...downstream coordinator (scenario 3)succeds in mitigating upstream market...In a complex setup like ours, some centralization on the supply or the de...may enhance market efficiency.Publicad

Mixture and distribution of different water qualities: an experiment on vertical structure in a complex market.

We report results from experimental markets in which two different...water are supplied to two types of consumers; households and farmers. In the...studied, we very strategic complexity (and centralization) by varying the...of agents per market. Centralization of information by a multiproduct more (scenario I) improves market preformance with respect to a duopoly...downstream coordinator (scenario 3)succeds in mitigating upstream market...In a complex setup like ours, some centralization on the supply or the de...may enhance market efficiency.water quality; experimental market; complex system;

I do not play lotteries

We study individual decision making in a lot tery-choice task performed by three subject populations: gamblers under psychol ogical treatment (“addicts”), gamblers’ relatives (“victims”), and normal (as far as gambling is considered) individuals. We find that addicts are willing to take less risk than normal individuals, but the large majority of victims reports themselves unwilling to take any risk at all. Furthermore, both addicts and victims maintain their choices invariant across different scenarios concerning the risk-return tradeoff

Percepción del riesgo y compromiso por reducir el cambio climático global en España

An online national survey among the Spanish population (n = 602) was conducted to examine the factors underlying a person’s support for commitments to global climate change reductions. Multiple hierarchical regression analysis was conducted in four steps and a structural equations model was tested. A survey tool designed by the Yale Project on Climate Change Communication was applied in order to build scales for the variables introduced in the study. The results show that perceived consumer effectiveness and risk perception are determinant factors of commitment to mitigating global climate change. However, there are differences in the influence that other factors, such as socio-demographics, view of nature and cultural cognition, have on the last predicted variable.Una encuesta online a la población española (n = 602) examina los factores que predicen el apoyo al compromiso con el medio ambiente por parte de los participantes para reducir el cambio climático global. Se realizó una regresión múltiple jerárquica en cuatro pasos y se testó el modelo de ecuaciones estructurales propuesto. En la encuesta se aplicó una herramienta diseñada por el Yale Project on Climate Change Communication con la finalidad de construir escalas para las variables introducidas en el estudio. Los resultados muestran que la efectividad percibida por el consumidor y el riesgo percibido son factores determinantes del apoyo al compromiso para reducir el cambio climático global. No obstante, se encontraron algunas diferencias en cuanto a la influencia de otros factores tales como las variables socio-demográficas, la visión de la naturaleza y la cognición cultural.This research was supported by Consejeria de Innovacion, Ciencia y Empresa (Junta de Andalucía): Incentivos a proyecto de investigacion de excelencia de las universidades y organismos de investigacion de Andalucia: proyectos de promocion general del conocimiento 2010 (PGC. SEJ-6768)

The SGG risk elicitation task: implementation and results

This is a longer version of a companion paper accepted for publication in Psicothema, under the title: “The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes”.We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Financial support by Bancaixa (P1 1B2007-14) and the Spanish Ministry of Science and Innovation (SEJ2008/04636/ECON). Georgantzís acknowledges financial support by the Junta de Andalucía (P07-SEJ-03155)

The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Financial support by Bancaixa (P1 1B2007‐14) and the Spanish Ministry of Science and Innovation (SEJ2008/04636/ECON). Georgantzís acknowledges financial support by the Junta de Andalucía (P07‐SEJ‐03155) and the hospitality at LEM, Paris II