Experimental analysis of asset markets, workplace tournaments and crime deterrence
thesisposted on 13.12.2020, 00:38 by ZHENGYANG BAO
This thesis uses the experimental methodology to understand three important topics in economics and finance. In the first chapter, we explore the trading of assets without positive fundamental values and find that these assets are prone to larger bubbles than assets with positive fundamental values. In the second chapter, we study a complementary safeguard which guarantees a higher minimum wage. Contrary to our conjecture, such a safeguard does not decrease the gender gap in wages but increases it. In the final chapter, we develop a novel mechanism to utilize insider information to apprehend the most guilty criminal in the crime network and enhance deterrence. The experimental data confirm that the new mechanism is more effective compared to the random audit mechanism, but is less effective than the Nash equilibrium predicts.