Nelissen, J.H.M.

player exchange efficiency round treatment merger table partner period decider result pension market stranger profit transfer experiment position scheme retirement asset number effect profit efficiency bank mergers receiver level subject model participant deposit pension coverage rst players change hypothesis impact journal player 1 european sequential study cost efficiency m &as question earning player 2 group coverage banking price bank m &as point benefit value behavior partners treatment scale mover structure nal assets difference gift exchange evidence endowment rst player xed positions sequential game payoff 0.6 alternative transfer t sample figure profit efficiency hypothesis percentage outcome market power rst mover coordination delivery