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Recent evidence highlights the importance of social norms in many economic relations. However, many of these relationships are long-term and provide repeated game incentives for performance. We experimentally investigate interaction effects of reciprocity and repeated game incentives in two...
Persistent link: https://www.econbiz.de/10011398911
Persistent link: https://www.econbiz.de/10010235660
remains unclear. In each of six treatments that vary the cooperation premium and the informational basis for reputation … forces of (a) learning about the benefits of reputation, and (b) learning about backward unraveling. We find, inter alia …, that with a high cooperation premium and good information, investment in reputation grows across sets of finitely …
Persistent link: https://www.econbiz.de/10010126752
equilibria share some features with the ones of multi-sided reputation models. …
Persistent link: https://www.econbiz.de/10010256693
We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...
Persistent link: https://www.econbiz.de/10011506852
We develop and estimate a general equilibrium model to quantitatively assess the effects and welfare implications of central bank transparency. Monetary policy can deviate from active inflation stabilization and agents conduct Bayesian learning about the nature of these deviations. Under...
Persistent link: https://www.econbiz.de/10011560575
We develop a theory of collective brand reputation for markets in which product quality is jointly determined by local …
Persistent link: https://www.econbiz.de/10013193845
The observability of partners' past play is known to theoretically improve cooperation in an infinitely repeated prisoner's dilemma game under random matching. This paper presents evidence from an incentivized experiment that reputational information per se may not improve cooperation. A...
Persistent link: https://www.econbiz.de/10012665559
We analyze discounted repeated games with incomplete information, such that the players' payoffs depend only on their own type (known-own payoff case). We describe an algorithm for finding all equilibrium payoffs in games for which there exists an open set of belief-free equilibria of Hörner...
Persistent link: https://www.econbiz.de/10011674194
through reputation. We demonstrate that there are situations in which it is optimal for the criminal to always return the … files and situations in which it is not. We argue that the ability to build reputation will depend on how victims … they need to find ways of building a good reputation. …
Persistent link: https://www.econbiz.de/10012061894