We study the emergence of norms of cooperation in experimental economies populated by strangers interacting … enforcement promote cooperation? Finally, what classes of strategies are employed to achieve high efficiency? We find that, first …, cooperation can be sustained even in anonymous settings; second, some type of monitoring and punishment institutions significantly …

worthless tickets affected outcomes and cooperation patterns. Tickets resembled fiat money, which emerged as a tool for … equilibrium selection in the economy. Monetary exchange facilitated coordination on cooperation and redistributed surplus from …