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Working papers


A New Mechanism to Alleviate the Crises of Confidence in Science With An Application to the Public Goods Game

Luigi Butera, Philip J. Grossman, Daniel Houser, John A. List, Marie Claire Villeval, Working paper GATE 2020-11
Recently a credibility crisis has taken hold across the social sciences, arguing that a component of Fischer (1935)’s tripod has not been fully embraced : replication. The importance of replications is not debatable scientifically, but researchers’ incentives are not sufficient to encourage replications. We analyze a novel mechanism promoting replications through beneficial gains between scholars and editors. We highlight the tradeoffs involved in seeking independent replications before submission to journals, and demonstrate the operation of this method via an investigation of the effects of Knightian uncertainty on cooperation in public goods games, a pervasive but largely unexplored feature in the literature.

Let’s chat... When communication promotes efficiency in experimental asset markets

Brice Corgnet, Mark DeSantis, David Porter, Working paper GATE 2020-10
The growing prevalence of stock market chat rooms and social media suggests communication between traders may affect market outcomes. Using data from a series of laboratory experiments, we study the causal effect of trader communication on the price efficiency of markets. We show that communication allows markets to convey private information more effectively. This effect is most pronounced when the communication platform publicizes a reputation score that might identify a person as not being truthful. This illustrates the need for market designers to consider social interactions when designing market institutions to leverage the social motives that foster information aggregation.