| Author Name | HAMAGUCHI Yasuyo MITANI Satoshi SAIJO Tatsuyoshi (Faculty Fellow) |
|---|---|
| Creation Date/ NO. | February 2004 04-E-009 |
| Download / Links |
Download paper [PDF:280KB] |
Abstract
This paper investigates whether Varian's (1994) compensation mechanism can work in a laboratory. The results show that this mechanism does not work as in the theory. We found that the magnitude of penalties crucially affects subjects' behavior.
