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A note on the use of businessmen as subjects in sealed offer markets

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Author Info

  • Dejong, Douglas V.
  • Forsythe, Robert
  • Uecker, Wilfred C.

Abstract

Using the data from sealed offer laboratory markets, we compare the price and quality choices of student subjects with those of businessmen subjects. The businessmen subjects were public accounting firm partners and corporate financial officers. This is of interest since the financial officer-auditor relationship is one particular application of the elementary principal-agent model which the laboratory environment was designed to test. Using several different performance measures we are unable to reject the null hypothesis that the average performance of the two subject pools were the same. However, the market using businessmen subjects generally exhibited greater variance than the market using students.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 9 (1988)
Issue (Month): 1 (January)
Pages: 87-100

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Handle: RePEc:eee:jeborg:v:9:y:1988:i:1:p:87-100

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Web page: http://www.elsevier.com/locate/jebo

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Cited by:
  1. Potters, J.J.M. & Winden, F.A.A.M. van, 2000. "Professionals and students in a lobbying experiment - Professional rules of conduct and subject surrogacy," Open Access publications from Tilburg University urn:nbn:nl:ui:12-84634, Tilburg University.
  2. Potters, J.J.M. & Winden, F.A.A.M. van, 1996. "The Performance of Professionals and Students in an Experimental Study of Lobbying," Discussion Paper 1996-06, Tilburg University, Center for Economic Research.
  3. Offerman, T.J.S. & Potters, J.J.M., 2000. "Does Auctioning of Entry Licences Affect Consumers Prices? An Experimental Study," Discussion Paper 2000-53, Tilburg University, Center for Economic Research.
  4. Heijden, E.C.M. van der & Nelissen, J.H.M. & Potters, J.J.M. & Verbon, H.A.A., 1998. "Transfers and the effect of monitoring in an overlapping-generations experiment," Open Access publications from Tilburg University urn:nbn:nl:ui:12-76896, Tilburg University.
  5. Klaus Abbink & Bettina Rockenbach, 2006. "Option pricing by students and professional traders: a behavioural investigation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(6), pages 497-510.
  6. Davis, Douglas & Korenok, Oleg, 2011. "Nominal shocks in monopolistically competitive markets: An experiment," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 578-589.
  7. Armstrong, Mark & Huck, Steffen, 2010. "Behavioral economics as applied to firms: a primer," MPRA Paper 20356, University Library of Munich, Germany.
  8. repec:dgr:uvatin:2000046 is not listed on IDEAS
  9. Enrique Fatás & Tibor Neugebauer & Pilar Tamborero, 2004. "How politicians make decisions under risk: a political choice experiment," Economic Working Papers at Centro de Estudios Andaluces E2004/58, Centro de Estudios Andaluces.
  10. Enrique Fatás & Tibor Neugebauer & Pilar Tamborero, 2004. "How Politicians Make Decisions: A Political Choice Experiment," IESA Working Papers Series 0410, Institute for Social Syudies of Andalusia - Higher Council for Scientific Research.

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