The 3rd Annual Xiamen University International Workshop on

Experimental Economics and Finance

Program Overview


December 15







Opening Comments and Plenary I

Economics N-303


Group Photo and Coffee Break



Session I.A, Decision Making under Uncertainty 

Economics D-110   


Session I.B, Auctions

Economics C-208


Session I.C, Learning

Economics D-210





Session II.A, Real Effort

Economics D-110


Session II.B, Experimetrics

Economics C-208  


Coffee Break



Session III.A, Other-Regarding Preferences

Economics D-110 


Session III.B, Industrial Organization

Economics C-208 


Session III.C, Tournaments

Economics D-210




December 16







Session IV.A, Field Experiments

Economics D-110 


Session IV.B, Public Goods

Economics C-208 


Session IV.C, Group Decision Making

Economics D-210


Coffee Break



Session V.A, Time and Risk Preferences

Economics D-110 


Session V.B, Bubbles

Economics C-208  


Session V.C, Coordination

Economics D-210  





Special Technology Session

Economics N-303


Plenary II

Economics N-303


Coffee Break



Session VI.A, Reciprocity

Economics D-110 


Session VI.B, Finance

Economics C-208 




The 3rd AnnualXiamen UniversityInternational Workshop on Experimental Economics and Finance

December 15-16, 2012

Xiamen, China

Wang Yanan Institute for Studies in Economics (WISE) and the MOE Key Laboratory in Econometrics at Xiamen University


Preliminary Program as of December 12, 2012. Only the affiliation of the presenter is indicated.

December 15, 2012

Opening Comments: 8:30am-8:40am, Economics N-303

Session Chair: Jason Shachat (, Xiamen University, China

Plenary Session I: 8:40am-10:30am, Economics N-303

[1] 8:40-9:35: "Recovering Preferences"

Shachar Kariv(, University of California - Berkeley, USA

[2] 9:35-10:30: "A Dynamic Level-k Model in Sequential Games"

Teck-Hua Ho(, National University of Singapore, Singapore and University of California - Berkeley, USA

10:30am-11:00am: Group Photo and Coffee Break

Parallel Sessions I (11:00am-12:15pm)

Session I.A: Decision Making under Uncertainty, 11:00am-12:15pm, Economics D-110

Session Chair:Bin Miao (, National University of Singapore, Singapore

[1] 11:00-11:25:"Risk Aversion and Facial Expressions"

Yen Nguyen*(, Tilburg University, Netherlands, and Charles Noussair

[2] 11:25-11:50:"An Experiment on Reference Points and Expectations"

Changcheng Song (, National University of Singapore, Singapore

[3] 11:50-12:15:"Partial Ambiguity"

Soohong Chew, Bin Miao* (, National University of Singapore, Singapore, and Songfa Zhong

Session 1.B: Auctions, 11:00am-12:15pm, Economics C-208

Session Chair: Jason Shachat (, Xiamen University, China

[1] 11:00-11:25:"An Experimental Investigation of Auctions and Bargaining in Procurement"

Jason Shachat, and Lijia Tan* (, Xiamen University, China

[2] 11:25-11:50:"Using Clock Auctions to Dissolve Partnership"

Fangzhou Zhang*(, Shanghai Jiaotong University, China, and Xiangdong Qin

[3] 11:50-12:15:"Auctioning the Right to Play the Ultimatum Game"

Jason Shachat* (, Xiamen University, China, and J. Todd Swarthout

Session 1.C: Learning, 11:00am-12:15pm, Economics D-210

Session Chair: Yuanji Wen (, Bocconi University, Italy

[1] 11:00-11:25:"Information Value in the Social Learning Environment: Experimental Evidence"

Bogachan Celen and Sen Geng* (, Xiamen University, China

[2] 11:25-11:50:"Path Dependence: An Experimental Study"

Jenna Bednar, Yan Chen, and Tracy Xiao Liu* (, Tsinghua University, China and Scott Page

[3] 11:50-12:15:"Learning to Use Private Information: Reexamining the Asymmetric-information Game in the Laboratory"

YuanjiWen (, Bocconi University, Italy

12:15pm-2:15pm: Lunch

Parallel Sessions II (2:15pm-3:30pm)

Session II.A: Real Effort, 2:15pm-3:30pm, Economics D-110

Session Chair: Ninghua Du (, Shanghai University of Finance and Economics, China

[1] 2:15-2:40:"Effort Supply under Cheating and Transgression - Some Evidences from a Real Effort Task Experiment"

Jie Liang* (, Monash University, Australia, and Liangcong Fan

[2] 2:40-3:05:"Self-chosen Group Members as A Motivation of Working Harder"

Arijit Das, Jie Liang, Yingxi Liu, Hui Xu* (, Beijing Normal University, China

[3] 3:05-3:30:"Promises in Contract Design"

NinghuaDu* (, Shanghai University of Finance and Economics, China, Gary Charness, Chun-Lei Yang, and Lan Yao

Session II.B: Experimetrics, 2:15pm-3:30pm, Economics C-208

Session Chair:Joseph Tao-Yi Wang (, Taiwan University, Taiwan

[1] 2:15-2:40:"Discrete Heterogeneity and Learning in Private Value Auctions: Explanations of Withering Rationality and Gender Differences"

Jason Shachat* (, Xiamen University, China, and LijiaWei

[2] 2:40-3:05:"Price Dispersion and Dynamics in Laboratory Bertrand Markets"

HangWu* (, University of Adelaide, Australia,and Ralph C. Bayer

[3] 3:05-3:30:"The Use of Strategy Methods in Experimental Pivotal-Voting Game"

Yen Kuo and Joseph Tao-Yi Wang* (, Taiwan University, Taiwan

3:30pm-4:00pm: Coffee Break

Parallel Sessions III (4:00pm-5:40pm)

Session III.A:Other-Regarding Preferences, 4:00pm-5:40pm, Economics D-110

Session Chair: Xinchao Zhang (, Zhejiang University, China

[1] 4:00-4:25:"The Crowd-out Effect of Formal Insurance on Informal Risk Sharing: An Experimental Study"

Wanchuan Lin, Yiming Liu, and Juanjuan Meng* (, Guanghua School of Management, Peking University, China

[2] 4:25-4:50:"The Effect of Language on Strategic Interactions: Evidence from Experiments on Social Preference"

Li King King (, Shanghai University of Finance and Economics, China

[3] 4:50-5:15:"Why are Spectators So Indifferent? An Experimental Examination of the Effect of Price on the Demand of Third Party Punishment"

Liangcong Fan, Lu Liu*(, Zhejiang University, China,and Jie Liang

[4] 5:15-5:40:"Erosion of Corruption on Cooperation: An Experimental Study"

Xinchao Zhang* (, Zhejiang University, China, Lu Liu, and Liangcong Fan

Session III.B: Industrial Organization, 4:00pm-5:40pm, Economics C-208

Session Chair: Maoliang Ye (, Renmin University of China, China

[1] 4:00-4:25:"Increasing Mental Cost vs. Sunk Cost - Evidence from Sequential Search Experiments"

Yongmin Chen, Binglin Gong* (, Fudan University, China, and Tianle Zhang

[2] 4:25-4:50:"Incentives Behind Firms’ Cooperative and Noncooperative Behaviors in Bertrand Duopoly - An Experiment"

Oliver Kirchkamp and GuohongWang* (, Friedrich-Schiller University of Jena, Germany

[3] 4:50-5:15:"Co-branding to Leverage Another Brand's Reputation: Theoretical and Experimental Investigations"

Xiayi Fan (, University of Cambridge, UK

[4] 5:15-5:40:"Does Gradualism Build Trust? Evidence from A Multi-round Experiment"

Maoliang Ye (, Renmin University of China, China

Session III.C: Tournaments, 4:00pm-5:40pm, Economics D-210

Session Chair: Changxia Ke (, Sun Yat-sen University, China

[1] 4:00-4:25:"Effects from Selection and Self-selection in Two Tournament Mechanisms"

Loukas Balafoutas, Glenn Dutcher, Florian Lindner* (, University of Innsbruck, Austria, and Matthias Sutter

[2] 4:25-4:50:"From Rival to Boss: Promotions with Continued Interaction"

Peter McGee (, National University of Singapore, Singapore

[3] 4:50-5:15:"Long-shot Tactic and End-game Desperation"

Yi-Shan Lee* (, Taiwan University, Taiwan, and Joseph Tao-yi Wang

[4] 5:15-5:40:“'Success Breeds Success' or 'Pride Goes before A Fall?' ”

Qiang Fu, Changxia Ke* (, Sun Yat-sen University, China, Jingfeng Lu, and Fangfang Tan




December 16, 2012

Parallel Sessions IV (8:30am-10:10am)

Session IV.A: Field Experiments, 8:30am-10:10am, Economics D-110

Session Chair: Changcheng Song (, National University of Singapore, Singapore

[1] 8:30-8:55:"A Dollar for Your Thoughts: Feedback-Conditional Rebates on eBay"

Luis Cabral and Lingfang (Ivy) Li* (, Shanghai University of Finance and Economics, China

[2] 8:55-9:20:"Do Men Prefer Less Educated Women? An Online Field Experiment"

David Ong and Jue(Echo) Wang* (, Peking University HSBC Business School, China

[3] 9:20-9:45:"Are Mei-li and Gang More Employable than Lasya and Jamyang? A Field Experiment on Labor Market Discrimination in China"

David Ong, Sophie Zeng* (, HSBC School of Business, Peking University, China, and Zachary Zhong

[4] 9:45-10:10:"Insurance Take-up in Rural China: Learning from Hypothetical Experience"

Jing Cai and Changcheng Song* (, National University of Singapore, Singapore

Session IV.B: Public Goods, 8:30am-10:10am, Economics C-208

Session Chair: Binglin Gong (, Fudan University, China

[1] 8:30-8:55:"Public Goods in Climate Change"

Bo Ma* (, Graduate School of Chinese Academy of Social Science, China, and Guocheng Wang

[2] 8:55-9:20:"Voluntary Contribution Mechanisms Played with an Infinite Horizon"

Lijia Tan and Lijia Wei* (, Wuhan University, China

[3] 9:20-9:45:"Group Size, Coordination, and the Effectiveness of Punishment in the Voluntary Contributions Mechanism: An Experimental Investigation"

Bin Xu, Bram Cadsby, Liangcong Fan* (, Zhejiang University, China, and Fei Song

[4] 9:45-10:10:"Reputation and Cooperation: An Experiment on Prisoner’s Dilemma with Second-order Information"

Binglin Gong* (, Fudan University, China, and Chun-Lei Yang

Session IV.C: Group Decision Making, 8:30am-10:10am, Economics D-210

Session Chair: Lian Jian (, University of Southern California, USA

[1] 8:30-8:55:"Information Acquisition and Voting Mechanisms: Theory and Evidence"

Sourav Bhattacharya, John Duffy, and SunTak Kim* (, Taiwan University, Taiwan

[2] 8:55-9:20:"How Large the Regional Group Identity Matters in the Decision of Choosing Working Mates? "

Arijit Das, Jie Liang* (, Monash University, Australia, Yingxi Liu, and Hui Xu

[3] 9:20-9:45:"Rewarding like a Woman or Punishing like a Man? A Team All-Pay Auction Experiment with Leaders"

Hong (Hannah) Lin, and David Ong* (, Peking University HSBC Business School, China

[4] 9:45-10:10:"Incentivizing Information Aggregation in Group Decision-Making"

Lian Jian* (, University of Southern California, USA, and John Lin

10:10am-10:40am: Coffee Break

Parallel Sessions V (10:40am-11:55am)

Session V.A:Time and Risk Preferences, 10:40am-11:55am, Economics D-110

Session Chair: Ruxin Wu (, Central South University, China

[1] 10:40-11:05:"Ambiguity and Option Exercise: An Experimental Study"

Jianjun Miao,XiaolanYang* (, Zhejiang University, China, and Lan Yao

[2] 11:05-11:30:"An Experiment Study on the Effects of Overconfidence on Investment Project Selection, Effort Level Selection, and the Commitment of Project Decision"

Ruxin Wu* (, Central South University, China, and Jian-Bai Huang

Session V.B: Bubbles, 10:40am-11:55am, Economics C-208

Session Chair: Caroline Bonn (, University of Innsbruck, Austria

[1] 10:40-11:05:"Asset Markets with OLG - An Experimental Approach"

MiroslavZajíček (, Universityof Economics in Prague, Prague

[2] 11:05-11:30:"The Relative Impact of Asymmetric and Public Information on the Formation of Pricing Bubbles in Experimental Asset Markets"

Zhenxuan Zhang* (, Xiamen University, China, Guojin Chen, and Jason Shachat

[3] 11:30-11:55:"The Inflow Effect - Trader Inflow and Bubble Formation in Asset Markets"

Michael Kirchler, Jürgen Huber and CarolineBonn* (, University of Innsbruck, Austria

Session V.C: Coordination, 10:40am-11:55am, Economics D-210

Session Chair: Giuseppe Attanasi (, University of Strasbourg, France

[1] 10:40-11:05:"Does Disappointment affect the Working Effort?"

Arijit Das, Jie Liang, Yingxi Liu* (, Yunnan University of Finance and Economics, China, and Hui Xu

[2] 11:05-11:30:"One Step at a Time: Does Gradualism Build Coordination?"

Maoliang Ye* (, Renmin University of China, China, Sam Asher, Lorenzo Casaburi, and Plamen Nikolov

[3] 11:30-11:55:"Risk Aversion, Over-Confidence and Private Information as Determinants of Majority Thresholds"

Giuseppe Attanasi* (, University of Strasbourg, France, Luca Corazzini, Nikolaos Georgantzis, and Francesco Passarelli

11:55am-1:25pm: Lunch

Special Technology Session: 1:25pm-1:50pm, Economics N-303

Session Chair: Sen Geng (, Xiamen University, China

[1] 1:25-1:50:"Next Generation Social Science Games on Web, Tablets, and Smartphones"

WalterYuan (, MobLab

Plenary Session II: 2:00pm-3:50pm, Economics N-303

Session Chair: Jason Shachat (, Xiamen University, China

[1] 2:00-2:55: "Temptation and Self Control"

Daniel Houser (, George Mason University, USA

[2] 2:55-3:50: "What Can Labor Economist Learn from the Lab?"

Gary Charness (, University of California - Santa Barbara, USA

3:50pm-4:20pm: Coffee Break

Parallel Sessions VI (4:20pm-6:00pm)

Session VI.A: Reciprocity, 4:20pm-6:00pm, Economics D-110

Session Chair: Yumei He (, Southeast University, China

[1] 4:20-4:45:"Losing Face - An Experiment on Self-Image and Image Reciprocity"

Tor Eriksson* (, Aarhus University, Denmark, Lei Mao, and Marie Claire Villeval

[2] 4:45-5:10:"Love Me, Love My Dog: An Experimental Study on Social Connections and Indirect Reciprocity"

Pinghan Liang* (, Southwestern University of Finance and Economics, China, and Juanjuan Meng

[3] 5:10-5:35:"Selection by Leisure: A Quasi-field Experiment on Self-Selection into Lab Experiments by Competitive Attitude"

David Ong* (, Peking University HSBC Business School, China, and Zhuoqiong (Charlie) Chen

[4] 5:35-6:00:"Determinants of Trust and Reciprocity in an Experimental Labour Market amongst Chinese Students"

Uwe Dulleck, Jonas Fooken, and Yumei He* (, Southeast University, China

Session VI.B: Finance, 4:20pm-5:35pm, Economics C-208

Session Chair: Giuseppe Attanasi (, University of Strasbourg, France

[1] 4:20-4:45:"The Effect of Past Prices on Investors’ Behavior: Experimental Evidence"

Chao Jiang (, Peking University, China

[2] 4:45-5:10:"When Do Structured Funds Become Too Good to be True?"

Adriana Gabriela Breaban* (, Jaimei University, Spain, Juan Carlos Matallín Sáez, Iván Barreda Tarrazona, and Mª Rosario Balaguer Franch

[3] 5:10-5:35:"Double Auction Equilibrium and Efficiency in a Classroom Experimental Over-the-Counter Market"

GiuseppeAttanasi* (, University of Strasbourg, France, Samuele Centorrino, and Ivan Moscati

6:00pm-8:00pm: Dinner