The Proceedings of the International Conference
Experiments in Economic Sciences:
New Approaches to Solving Real-world Problems

Notice: Invited speakers' papers will be included in the Conference book, which will be published in 2005 by Springer Verlag.

Public Speech
Keynote Speech
Markets, Capital Markets, and Globalization
Vernon L. Smith
Foundations of Experimental Economics, Economic Design and Applications
Vernon L. Smith
Invited Sessions On rare events and the economics of small decisions
Ido Erev
Trust, Fear, Reciprocity, and Altruism: Theory and Experiment
James Cox
Behavioral decision making at 50: Achievements, prospects, and challenges
Robin Hogarth
Why Experimental Finance?
Shyam Sunder
Cheating in Markets: A Methodological Exploration
Daniel Friedman
Cognitive economics as a new research program
Paul Bourgine
Session 1A: Market 1 Competitive Burnout in the Laboratory: Equilibrium Selection in a Two-Stage Sequential Elimination Game
J. Atsu amegashie, C. Bram Cadsby and Yang Song
Exploring Elements of Exchange Rate Theory in a Controlled Environment
Eric O'N Fisher
Price Competition between Price Setting Middlemen in the Laboratory Setting
Kazuhito Ogawa, Kouhei Iyori and Sobei. H. Oda
Session 1B: Public Goods 1 Trust and Reciprocity:The Differing Norms of Individuals and Group Representatives
Fei Song
Economic ties and social dilemmas
Daan van Soest and Jana Vyrastekova
Does Observation of Others Affect People's Cooperative behavior? An Experimental Study on Threshold public Good Games
Yasuyo Hamaguchi
Session 1C: Co- Creative Decision Making 1 Co-Creative Decision Making in Artifactual Systems in Consideration of Bounded Rationality
Tomomi Kito, Nobutada Fujii and Kanji Ueda
Verification Process of the Investment Option of Common Goods by a New City Management(Medi-Square) Model Based on Next-Generation Technology
Sawako Takeuchi, Atsushi Doi and Mari Tanaka
Session 2A: Market 2 Experimental Studies on the Value of Information in Financial Markets with Heterogeneously Informed Agents
Jurgen Huber, Michael Kirchler and Matthias Sutter
Willingness- to- pay for Expressways
Metin Senbil and Ryuichi Kitamura
The Effects of Compensation Schemes on Self-Selection and Work Productivity: An Experimental Investigation
C. Bram Cadsby, Fei Song and Francis Tapon
Session 2B: Public Goods 2 Trust and Reciprocity: Groups versus Individuals and Behavior versus Perceptions
Fei Song
The Way Out of the Trap Experiments on Dynamic Coordination Games
Jordi Brandts and Agnes Pinter
The Effect of Group Competition in the Prisoner's Dilemma Game
Yoshio Iida
Session 2C: Co- Creative Decision Making 2 Charting the Market:Fundamental and Chartist Strategies in a Participatory Stock Market Experiment
Laszlo Gulyas
A study on Virtual Market for Pareto Optimal Mediation
Toshiya Kaihara and Susumu Fujii
Session 3A: Market 3 Minding Your Own Business
Utteeyo Dasgupta
Recycling of Durable Goods: modeling and Experiments
Nariaki Nishino, Hiroki Nakayama, Sobei. H. Oda and Kanji Ueda
Game theory and history of economic thought: The Cournot-Walras Correspondence as a test of the effectiveness of cheap talk in achieving efficient outcomes
Regis Deloche
Session 3B: Public Goods 3 Experimental Evidence on the Multibidding Mechanism
David Perez-Castrillo and Robert F. Veszteg
Monitoring, reputation, and "greenbeard" reciprocity in a real-life public good game among the Shuar of Ecuador
Michael E. Price
Robustness against Longer Memory Strategies in Evolutionary Games
Eizo Akiyama
Session 3C: Accounting and Economics 1 The Roles of Transfers and Participation Constraints in Trade Negotiations
Shyam Sunder and Koichi Hamada
Why Do Economists Favor Free Trade but Politicians Don't ?
Koichi Hamada and Shyam Sunder
Equilibration of Real Financial Markets: Theory and Experimental Evidence
Peter Bossaerts
Session 4A: Monitoring Audit Credibility and the Audit Purchasing Costs: A Theory and an Experimental Investigation
Tatsuhiko Kato
Session 4B: Decision Making 1 Signal Qualities, Order of Decisions, and Informational Cascades: Experimental Evidences
Shunichiro Sasaki
Neighborhood Information Exchange and Voter Participation: An Experimental Study
Jens Grosser and Arthur Schram
Marginal Contribution of Information to Profit in a Zero-sum Game
Hiroyasu Yoneda, Gen Masumoto and Sobei H. Oda
Session 4C: Accounting and Economics 2 Independence in Appearance and in Fact: An Experimental Investigation
Nick Dopuch, Ronard R. King and Rachel Schwertz
Session 5A: Mechanism Design Amended Final Offer Arbitration is Promising: Evidence from the Laboratory
Cary Deck, Amy Farmer and Dao-Zhi Zeng
Competition with Forward Contracts: A Laboratory Analysis Motivated by Electricity Market Design
Jordi Brandts, Paul Pezanis-Christou and Arthur Schram
Combinatorial Auction Design for Bandwidth Trading: An Experimental Study
Chairs Kaskiris, Rahul Jain, Ram Rajagopal and Pravin Varaiya
Session 5B: Decision Making 2 Commuters' Perception of Travel Time and Uncertainty Under Congestion Pricing: Results of Six-Week Field Experiment
Kengo Ushiwaka, Akira Kikuchi and Ryuichi Kitamura
How Does Overconfidence Affect Individual Decision Making
Volha Baranava, Zvezda Dermendzhieva, Plamen P. Doudov and Vitaliy Strohush
Bayesian Updating in Experiment: Good News and Bad News in Small Feedback-Based Decision Problems
Takemi Fujikawa and Sobei H. Oda
Session 5C: Artificial Market Introducing Virtual Futures Market System "U-Market"
Y. Nakajima, I. Ono, H. Sato, N. Mori, H. Kita, H. Matsui, K. Taniguchi, H. Deguchi, T. Terano and Y. Shiozawa
Usefulness and feasibility of market maker in a thin market
Yoshihiro Nakajima and Yoshinori Shiozawa
Analyse the complexity of the financial time series using artificial market
Jungo Ueki and Yoshihiro Nakajima
Session 6B: Decision Making 3 Separation of Intertemporal Substitution and Time Preference Race from Risk Aversion: Experimental Analysis
Ryoko Wada and Sobei H. Oda
Frames and Games
Jordi Brandts and Christiane Schwieren
A Regression Model of Group Rationality by Member Rationality and Characteristics: Group Decision-making under Limited Rationality by Problem-solving and Persuasion
Satoru Mizutani and Fumihiko Goto
Session 6C: Psychology Neuroendocrine modulation of social memory and economic decision making
Taiki Takahashi
Biases in Bluffing - Theory and Experiments economic Decision-making
Hakan J. Holm
Closing Lecture Design Science: A Prelude
Tatsuyoshi Saijo