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Repeated interactions provide a prominent but paradoxical hypothesis for human cooperation in one-shot interactions 1–3. Intergroup competitions 4–7 provide a different hypothesis that is intuitively appealing but heterodox. We show that neither mechanism reliably supports the evolution of...
Persistent link: https://www.econbiz.de/10014240476
We characterize intertemporal utility functions over heterogeneous goods that feature (i) a constant elasticity of … the goods. We find that a standard (stationary) intertemporal utility function is consistent with these two properties if … elasticities of substitution are identical, or if the instantaneous utility function is Cobb-Douglas. We also characterize the …
Persistent link: https://www.econbiz.de/10012844425
The quasi-linear quadratic utility model is widely used in economics. The knowledge of its exact origin is less …
Persistent link: https://www.econbiz.de/10012866406
We experimentally examine how the incentive to defect in a social dilemma affects conditional cooperation. In our first study we conduct online experiments in which subjects play eight Sequential Prisoner’s Dilemma games with payoffs systematically varied across games. We find that few second...
Persistent link: https://www.econbiz.de/10014077010
We analyze linear, weakest-link and best-shot public goods games in which a distinguished team member, the team allocator, has property rights over the benefits from the public good and can distribute them among team members. These team allocator games are intended to capture natural asymmetries...
Persistent link: https://www.econbiz.de/10013231971
In this paper we use the property that certainty equivalence, as implied by a first-order approximation to the solution of stochastic discrete-time models, breaks in its equivalent continuous-time version. We study the extent to which a first-order approximated solution built by perturbation...
Persistent link: https://www.econbiz.de/10012834991
Does removing the constraints of time and place of work increase the utility of workers and firms? We design a …
Persistent link: https://www.econbiz.de/10012839264
on the one hand and the core property of an allocation on the other. In particular we show that it is an inhomogeneous … sacrifice') which is derived from the egalitarian-equivalent concept suggested by Moulin (1987). We also develop a simple core … test by which it can be checked whether a given allocation is in the core thus being a possible outcome of a cooperative …
Persistent link: https://www.econbiz.de/10010270530
incentive compatible core can be empty, even if utility functions are quasi-linear. If, in addition to quasi-linearity, further …The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a … assumptions are made (like independent private values), the non-emptiness of the core follows nevertheless from d?Aspremont and …
Persistent link: https://www.econbiz.de/10010273735
) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable … which the bidders' final utility possibly depends on the winner's identity. We show that such direct externalities offer a …
Persistent link: https://www.econbiz.de/10010273875