Masclet, David; Noussair, Charles N.; Villeval, Marie Claire - Institute for the Study of Labor (IZA) - 2010
-play threats to punish have enough of a beneficial impact on cooperation, while not incurring the cost associated with actual … punishment, so that they increase overall welfare? We report an experiment in which players can issue non-binding threats to … their actual punishment level. We find that threats increase the level of contributions significantly. Efficiency is …