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An Experimental Evaluation of the Serial Cost Sharing Rule
Authors:Laura Razzolini  Michael Reksulak  Robert Dorsey
Affiliation:(1) Department of Economics, Virginia Commonwealth University, 1015 Floyd Avenue, Richmond, VA 23284, USA;(2) Georgia Southern University, Statesboro, GA 30460, USA;(3) FNC, Inc., Oxford, MS 38655, USA
Abstract:This paper proposes an experimental test to evaluate the performance of the serial cost sharing rule, originally proposed by Shenker [Sigmetrics, 241–242 (1990)] and then analyzed by Moulin and Shenker [Econometrica 60, 1009–1037 (1992)]. We report measures of the performance and efficiency of the serial mechanism by comparing the choices and payoffs attained by the subjects to the expected equilibrium allocations. Experimental evidence shows that learning is needed for the subjects to converge to the equilibrium strategy. However, in terms of efficiency, the serial mechanism leads to almost efficient allocations.
Keywords:cost sharing rule  experiments
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