Gary Bolton

Global Faculty

Publications (selection)


Bolton, G., Breuer, K., Greiner, B., & Ockenfels, A. (2023).

"Fixing Feedback Revision Rules in Online Markets." Journal of Economics & Management Strategy, 32(2), 247–256.

Bolton, G. E., Bonzelet, S., Stangl, T., & Thonemann, U. W. (2022).

"Decision Making Under Service-Level Contracts: The Role of Cost Saliency." Production and Operations Management. Advance online publication.

Bolton, G., Dimant, E. & Schmidt, U. (2021).

"Observability and Social Image: On the Robustness and Fragility of Reciprocity." Journal of Economic Behavior & Organization, 191, 946-964.

Bolton, G.E., Mans, J. & Ockenfels, A. 2020.

"Norm Enforcement in Markets: Group Identity and the Volunteering of Feedback.” Economics Journal.

Bolton, G. E., Dimant, E. & Schmidt, U. 2020.

"When a Nudge Backfires: Using Observation with Social and Economic Incentives to Promote Pro-Social Behavior." PPE Working Papers.

Bolton, G. E., Kusterer, D. J., & Mans, J. 2019.

"Inflated Reputations: Uncertainty, Leniency and Moral Wiggle Room in Trader Feedback Systems." Management Science, 65(11), 5371-5391.

Bolton, G. E., Greiner, B. & Ockenfels, A. 2018.

"Dispute Resolution or Escalation? The Strategic Gaming of Feedback Withdrawal Options in Online Markets." Management Science, 64 (9), 4009-4031.

Bolton, G. E. & Katok, E. 2018.

"Cry Wolf or Equivocate? Credible forecast guidance in a cost-loss game." Management Science, 64 (3), 983-1476.

Bolton, G. E. & Chen, Y. 2018.

"Other-Regarding Behavior: Fairness, Reciprocity, and Trust." In: Donohue, K., Katok, E. & Leider, S. "The Handbook of Behavioral Operations."

Bolton, G. E. & Werner, P. 2016.

"The Influence of Potential on Wages and Effort." Experimental Economics, 19(3), 1-27.

Bolton, G. E., Feldhaus, C. & Ockenfels, A. 2016.

"Social Interaction Promotes Risk Taking in a Stag Hunt Game." German Economic Review, 17(3), 409-423.

Bolton, G. E., Ockenfels, A. & Werner, P. 2016.

"Leveraging Social Relationships and Transparency in the Insider Game." Journal of the Economic Science Association, 2, 127-143.

Bolton, G. E. & Karagözoğlu, E. 2016.

"On the Influence of Hard Leverage in a Soft Leverage Bargaining Game: The Importance of Credible Claims." Games and Economic Behavior, 99, 164-179.

Bolton, G. E., Stangl, T. & Thonemann, U. 2016.

"Decision Making Under Service Level Contracts – An Experimental Analysis."

Bolton, G. E., Ockenfels, A. & Stauf, J. 2015.

"Social Responsibility Promotes Conservative Risk Behavior." European Economic Review, 74, 109–127.

Bolton, G., Greiner, B. & Ockenfels, A. 2015.

"Conflict Resolution vs. Conflict Escalation in Online Markets." UNSW Business School Research Paper No. 2015/19.

Bolton, G. E. & Ockenfels, A. 2014.

"Does Laboratory Mirror Behavior in Real World Markets? Fair Bargaining and Competitive Bidding on eBay." Journal of Economic Behavior and Organization, 97, 143-154.

Press releases

Together with his colleagues Gary Bolton and Ben Greiner receives Axel Ockenfels the Best Paper Award 2019 for the publication …

The American economist Richard H. Thaler was awarded this year’s Nobel Memorial Prize in Economic Sciences for his pioneering contributions …

In the media

WU.Alumni.News, 01.11.2017 | Ben Greiner

“Ein gelungenes Abendessen im Restaurant, ein enttäuschender Hotelaufenthalt, die problemlose Anmietung eines Leihwagens: unsere persönlichen Erfahren sind wertvolle Informationen für andere Menschen. Werden diese Erfahrungen geteilt, bauen Unternehmen und Einzelpersonen Reputationen auf.[…] Wie soll ein Verkäufer eine Reputation aufbauen, die vom Markt verstanden wird? Und wie wissen KundInnen, dass eine Reputationsinformation glaubwürdig ist? Diese Fragen untersuchte WU-Professor Ben Greiner mit seinen Kollegen Gary Bolton und Axel Ockenfels in einer Reihe von Studien. Die Forscher analysierten die Muster im Feedback-Verhalten von eBay- NutzerInnen und verwendeten Laborexperimente, um die Effektivität verschiedener Feedback-Regeln zu testen.”

Link to article:

BYU Radio, 27.10.2015 | Julie Rose

„If you are a risk-taker, research shows you’ll be a little less-bold in your decisions when other people are involved. The power of the group to push people toward more conservative choices is fairly well documented. The question is, why does it happen?” Gary Bolton, professor of managerial economics and C-SEB principal investigator.

Link to article:, 18.09.2015 | Brittany Magelssen

„‘Suppose that the chances I’m going to take influence not only what will happen to me, but what will happen to you,’ Bolton said. ‘Does that change my risk-taking behavior? This is important because a lot of risk decisions are taken in groups—in terms of business, government or family. You’re not just deciding for yourself, but you’re deciding for others as well’.” Gary Bolton is professor of managerial economics and C-SEB principal investigator.

Link to article:

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