Nobel Prize, for sure
Wow, I am not sure how I missed this seminal work, but I discovered it today via Steven Levitt. The work is titled "On the Efficiency of AC/DC: Bon Scott versus Brian Johnson" by Robert J. Oxoby of the University of Calgary Economics Department.
Our treatment variable in the experiment was the type of music played while individuals were making their decisions. As demonstrated by Bernardi et al. (2006), different musical styles can have different physiological effects in individuals. These effects, along with emotional responses, may result in different patterns of decision making regarding distributing money between oneself and another. In our Bon Scott treatment, participants listened to "It's a Long Way to the Top" (featuring Bon Scott on vocals) from the album High Voltage. In our Brian Johnson treatment, participants listened to "Shoot to Thrill" (featuring Brian Johnson on vocals) from the album Back in Black....
our analysis suggests that in terms of affecting efficient decision making among listeners, Brian Johnson was a better singer. Our analysis has direct implications for policy and organizational design: when policymakers or employers are engaging in negotiations (or setting up environments in which other parties will negotiate) and are interested in playing the music of AC/DC, they should choose from the band's Brian Johnson era discography.
I have this picture of AC/DC music blasting out on the floor of the Chicago Board of Trade
(the whole story behind this "study" is here)
