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It's payback time: new insights on cooperation in the repeated prisoners' dilemma
Bigoni, Maria; Casari, Marco; Salvanti, Andrea; … - 2022
In an experiment on the repeated prisoner’s dilemma where intended actions are implemented with noise, Fudenberg et al. (2012) observe that non-equilibrium strategies of the "tit-for-tat" family are largely adopted. Furthermore, they do not find support for risk dominance of TFT as a...
Persistent link: https://www.econbiz.de/10012805575
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The effect of positive mood on cooperation in repeated interaction
Proto, Eugenio; Sgroi, Daniel; Nazneen, Mahnaz - 2017
Existing research supports two opposing mechanisms through which positive mood might affect cooperation. Some studies have suggested that positive mood produces more altruistic, open and helpful behavior, fostering cooperation. However, there is contrasting research supporting the idea that...
Persistent link: https://www.econbiz.de/10011760094
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Beliefs, learning, and personality in the indefinitely repeated prisoner's dilemma
Gill, David; Rosokha, Yaroslav - 2022
We aim to understand the role and evolution of beliefs in the indefinitely repeated prisoner's dilemma (IRPD). To do so, we elicit beliefs about the supergame strategies chosen by others. We find that heterogeneity in beliefs and changes in beliefs with experience are central to understanding...
Persistent link: https://www.econbiz.de/10013345861
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Guilt from promise-breaking and trust in markets for expert services : theory and experiment
Beck, Adrian; Kerschbamer, Rudolf; Qiu, Jianying; … - 2010
We examine the influence of guilt and trust on the performance of credence goods markets. An expert can make a promise to a consumer first, whereupon the consumer can express her trust by paying an interaction price before the expert’s provision and charging decisions. We argue that the...
Persistent link: https://www.econbiz.de/10003944278
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The hidden costs of tax evasion : collaborative tax evasion in markets for expert services
Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; … - 2015
We experimentally examine the impact of tax evasion attempts on the performance of credence goods markets, where contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest that tax evasion attempts - independently of whether...
Persistent link: https://www.econbiz.de/10010529409
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The economics of credence goods : on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. -- Credence goods ; experiment ; liability ; verifiability ; reputation …
Persistent link: https://www.econbiz.de/10003814341
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Gender, information and the efficiency of household production decisions : an experiment in rural Togo
Apedo-Amah, Marie Christine; Djebbari, Habiba; Ziparo, … - 2020
Why do farm households inefficiently allocate resources across the plots they cultivate? We explore how these production inefficiencies relate to consumption decisions and information sharing within the household. In a lab-in-the-field experiment, male producers allocate too few inputs to their...
Persistent link: https://www.econbiz.de/10012168047
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Diagnostic uncertainty and insurance coverage in credence goods markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020
framework. We test the model's predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the …
Persistent link: https://www.econbiz.de/10012313962
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Strategic complexity and the value of thinking
Gill, David; Prowse, Victoria - 2022
Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
Persistent link: https://www.econbiz.de/10013191643
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Using response times to measure strategic complexity and the value of thinking in games
Gill, David; Prowse, Victoria L. - 2017
Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...
Persistent link: https://www.econbiz.de/10011607565