WEBEAS Workshop: Join Us for Daniela Puzzello’s Presentation, April 9th @ 1 PM ET - "Is Money Essential? An Experimental Approach."

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Kristian

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Apr 8, 2024, 2:20:36 AMApr 8
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Dear All,

In the next session of our online seminar (Tuesday, April 9, 2024, 1 PM EST), we are happy to have Daniela Puzzello from Indiana University presenting a super interesting paper titled "Is Money Essential? An Experimental Approach." Please take a look at the abstract below. 

Session Details:

Please mark your calendars. Click here to add the workshop to your Google calendar. 
We look forward to seeing everyone in the workshop!

The Organizing Committee

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Talk details:

Author(s):
Janet Hua Jiang (Bank of Canada), Peter Norman (University of North Carolina), Daniela Puzzello (Indiana University)

Title: Is Money Essential? An Experimental Approach.

Abstract: Monetary exchange is called essential when better outcomes become incentive-compatible when money is introduced. We study essentiality theoretically and experimentally using finite-horizon monetary models that are naturally suited to the lab. Following mechanism design, we also study the effects of strategy recommendations, both when they are incentive-compatible and when they are not. Results show output and welfare are significantly enhanced by fiat currency if monetary equilibrium exists, but not otherwise. Also, recommendations help if incentive-compatible, but not otherwise. Sometimes, money gets used when it should not, and we investigate why using surveys and measures of social preferences.
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