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transmission tends to be biased toward excessively conservative priors. As a result, societies can be trapped in a low-trust … equilibrium. In this context, a temporary shock to the return to trusting can have a permanent effect on the level of trust. We …
Persistent link: https://www.econbiz.de/10003627185
Many real-world mechanisms are 'noisy' or 'fuzzy', that is the institutions in place to implement them operate with non-negligible degrees of imprecision and error. This observation raises the more general question of whether mechanisms that work in theory are also robust to more realistic...
Persistent link: https://www.econbiz.de/10011852716
Many real-world mechanisms are “noisy” or “fuzzy”, that is the institutions in place to implement them operate with non-negligible degrees of imprecision and error. This observation raises the more general question of whether mechanisms that work in theory are also robust to more...
Persistent link: https://www.econbiz.de/10011771262
We test whether the decisions in a common-pool resource game are better modeled game- theoretically as strategic substitutes or complements using an individual-level dataset of groundwater usage that accounts for 3% of US irrigated agriculture. Based on a regression framework with instrumental...
Persistent link: https://www.econbiz.de/10014418068
A generalization of transferable utility cooperative games from the functional forms introduced by von Neumann and Morgenstern (1944, Theory of Games and Economic Behavior) and Lucas and Thrall (1963, Naval Research Logistics Quarterly, 10, 281–298) is proposed to allow for multiple...
Persistent link: https://www.econbiz.de/10011030505
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