Showing 1 - 10 of 128
This paper studies a target-based procedure to rank lotteries that is normatively and observationally equivalent to the expected utility model. In view of this equivalence, the traditional utility-based language for decision making may be substituted with an alternative target-based language....
Persistent link: https://www.econbiz.de/10005118565
This paper describes a parametric family of utility functions for decision analysis. The parameterization is obtained by embedding the HARA class in a four-parameter representation for the risk aversion function. The resulting utility functions have only four shapes: concave, convex, S-shaped,...
Persistent link: https://www.econbiz.de/10005118574
We introduce a class of two-player cooperation games where each player faces a binary decision, enter or exit. These … exiting. When the game is repeated and players' values to entry are private, cooperation admits the form of either taking … optimal symmetric cutoff strategy. These games capture the nature of cooperation in many economic and social situations such …
Persistent link: https://www.econbiz.de/10005556669
It is well-known in evolutionary game theory that population clustering in Prisoner Dilemma games allows some cooperative strategies to invade populations of stable defecting strategies. We adapt this idea of population clustering to a two-person trust game. Players are typed based on their...
Persistent link: https://www.econbiz.de/10005125594
cooperation and coordination within teams. Using artificial agents, different social contests are created, as training …
Persistent link: https://www.econbiz.de/10005407620
behavior. We propose that religious rituals promote in-group trust and cooperation that help to overcome collective …-action problems. We test this hypothesis on communal societies for whom mutual cooperation is a matter of survival. We design field …
Persistent link: https://www.econbiz.de/10005062717
The trust building process is basic to social science. We investigate it in a laboratory setting using a novel multi-stage trust game where social gains are achieved if players trust each other in each stage. And in each stage, players have an opportunity to appropriate these gains or be...
Persistent link: https://www.econbiz.de/10005407592
The use of linear wholesale price contract has long been recognized as a threat to achieving channel effciency. Many formats of nonlinear pricing contract have been proposed to achieve vertical channel coordination. Examples include two-part tariff and quantity discount. A two-part tariff...
Persistent link: https://www.econbiz.de/10005407889
This is a commentary on Vernon Smith's contributions to experimental economics
Persistent link: https://www.econbiz.de/10005561805
that the stylized fact of declining cooperation in repeated public goods experiments results from this bias and adaptation. …
Persistent link: https://www.econbiz.de/10005125603