Renewable resource dynamics: A Web-based classroom experiment
The authors adapted a lab-in-the-field experiment emulating the dynamic extraction of a fishery to create a Web-based classroom experiment. The game includes a multi-player version analogous to an open access problem and a single-player version analogous to the social planner problem. This game is helpful in introductory microeconomics courses to teach about dominant strategies and […]
The trade-off between liquidity and insurance: voucher payments in a lab- in-the-field experiment with colombian rural workers
We conduct a lab-in-the-field experiment in which 214 rural workers must choose between a cash or a voucher payment for completing a real-effort task. Participants face a twenty-percent chance of suffering a negative shock that will reduce their cash payment by roughly two-thirds. Opting for the voucher reduces the likelihood of the shock by one-half. […]