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worsen them, if individuals possess different degrees of morality. We characterize heterogenous Alger-Weibull morality … for individuals with below (above) average morality. Equilibrium public good provision is not increased by morality, as … long as there are homo oeconomicus individuals. An increase in morality of an individual may reduce total provision of the …
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considerations moves behavior toward traditional economic rationality in UG, PD, and DG. Despite entering the study with higher …
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Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...
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