Genicot, Garance; Charness, Gary - Society for Economic Dynamics - SED - 2004
study of risk-sharing without commitment. Our
experiment captures the main features of a simple model of voluntary … transfers being voluntary, only self-enforcing risk-sharing
arrangements are possible: transfers can never be so large as to … constrained
optimal risk-sharing arrangement.
In our experiment, participants are matched in pairs. Each period, one of them …