Abstract
We design a laboratory experiment to study bargaining behaviour when negotiations involve multiple issues. Parties must discover both trading prices and agreement scopes, giving rise to ...unexplored information structures and bargaining strategies. We find that bargainers often trade the efficient set of issues despite lacking information about individual aspects. However, beneficial agreements critically hinge on integrated negotiations that allow deals on bundles of issues. Moreover, access to more information boosts agreement rates in small-surplus negotiations but can also backfire as it triggers increased risk-taking and conflicting fairness preferences in large-surplus negotiations. Finally, successful negotiations display a specific bargaining convention that emerges endogenously. It involves alternating offers that meet the other side’s most recent demand halfway.
We present a novel method—called risk equivalents—that uses a single measure to elicit discount rates while avoiding concerns about the shape of the utility function. The method is valid under ...discounted expected utility (DEU), and also under several of its behavioral extensions including more general models that account for a biased perception of time and risk (such as time- or likelihood-insensitivity). We implement the method in a field experiment in India measuring inter-temporal discount rates for money and the consumption of tea. We empirically observe that discount rates elicited by traditional methods are related to utility curvature, whereas discount rates elicited by risk equivalents are not. Risk equivalents also mitigate differences in discount rates measured for money and for tea, suggesting that unaddressed utility curvature may play a role in results that demonstrate good-specific discounting. Risk equivalents are general, fast and tractable, three features that are particularly useful in field studies.
•Risk equivalents are a novel method to measure discount rates.•They measure discounting without the concern about the shape of the utility function.•The method is valid under discounted expected utility and other behavioral extensions.•In a field experiment in India, risk equivalents measure discounting of money and tea.•Discount rates elicited by risk equivalents are not related to utility curvature.
We report on measurements of the mass and lifetime of the Ξ(b)⁻ baryon using about 1800 Ξ(b)⁻ decays reconstructed in a proton-proton collision data set corresponding to an integrated luminosity of ...3.0 fb⁻¹ collected by the LHCb experiment. The decays are reconstructed in the Ξ(b)⁻→Ξ(c)⁰π⁻, Ξ(c)⁰→pK⁻K⁻π⁺ channel and the mass and lifetime are measured using the Λ(b)⁰→Λ(c)⁺π⁻ mode as a reference. We measure M(Ξ(b)⁻)-M(Λ(b)⁰)=178.36±0.46±0.16 MeV/c², (τ(Ξ(b)⁻)/τ(Λ(b)⁰)=1.089±0.026±0.011, where the uncertainties are statistical and systematic, respectively. These results lead to a factor of 2 better precision on the Ξ(b)⁻ mass and lifetime compared to previous best measurements, and are consistent with theoretical expectations.
The large equivalent-photon fluxes accompanying Pb ion beams at the LHC initiate photon–photon interactions, which occur when the colliding nuclei have large impact parameter (ultra-peripheral ...collisions). The ATLAS collaboration has carried out a range of measurements related with two-photon interactions at high energies using recently recorded Pb+Pb collision data taken at sNN=5.02 TeV.
Motivated by the recent evidence for
decays at Belle II, we point out that fully invisible
and
meson decays are strongly constrained by LEP. A reinterpretation of an old inclusive ALEPH search for
...-hadron decays with large missing energy allows us to place the limits
and
, both at
CL. The
limit is only a factor of 6 looser than the world-leading one provided by the BaBar collaboration, while the
one is the first limit in the literature on this decay mode. These results are relevant in the context of new light states coupled to quarks and exemplify the power of a future Tera-
factory at FCC-ee to look for
meson decays containing missing energy.
•Many students don’t study enough; understanding effort decisions are important.•A field experiment studies the role of perceived returns to effort in effort choices.•Experiment is done with college ...students learning Spanish on a language platform.•Information treatments manipulate students’ beliefs about returns to effort.•An increase in students’ perceived productivity of effort increases their effort.
How does the perceived relationship between effort and achievement affect effort? To answer this question, I conduct a framed field experiment with a popular online learning platform. I exogenously manipulate students’ beliefs about returns to effort by assigning them to a control group or to treatments which provide information about returns to effort. Students update their beliefs towards the information and change their study effort in the same direction with the shifts in their beliefs. This result shows that low-cost information interventions can influence students’ beliefs about returns to effort and these beliefs are important components of their effort choices.
We present a natural field experiment to examine if priming can influence behavior in a market for credence goods. 40 testers took 600 taxi journeys in Vienna, Austria, and using a between–subject ...design we vary the script they spoke, each designed to prime either honesty, dishonesty, or a competitor. We find that the honesty prime increases taxi fares by 5.5% relative to a baseline, the result of overcharging rather than overtreatment. Priming dishonesty and a competitor have no impact on fares. We find that the effects of priming on behavior are likely to be small compared to information asymmetries.
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