Showing 1 - 10 of 41
The paper presents a complete information model of bidding in second price sealed-bid and ascending-bid (English) auctions, in which potential buyers know the unit valuation of other bidders and may spitefully prefer that their rivals earn a lower surplus. Bidders with spiteful preferences...
Persistent link: https://www.econbiz.de/10009752417
We study framing effects in repeated social dilemmas by comparing payoff-equivalent Give- and Take-framed public goods games under varying matching mechanisms (Partners or Strangers) and levels of feedback (Aggregate or Individual). In the Give-framed game, players contribute to a public good,...
Persistent link: https://www.econbiz.de/10011383730
Initiated by the seminal work of Fehr and Fischbacher (Evolution and Human Behavior (2004)), a large body of research has shown that people often take punitive actions towards norm violators even when they are not directly involved in transactions. This paper shows in an experimental setting...
Persistent link: https://www.econbiz.de/10012493242
Is the willingness to make trades influenced by how the total gains from trade are split between the trading partners? We present results from a bilateral trade game (n = 128) where all participants were price-takers and trading pairs faced one of three exogenously imposed trading prices. The...
Persistent link: https://www.econbiz.de/10012168600
This paper reports an experiment which compares behaviour in two punishment regimes: (i) a standard public goods game …
Persistent link: https://www.econbiz.de/10011380878
Explaining human cooperation in large groups of non-kin is a major challenge to both rational choice theory and the theory of evolution. Recent research suggests that group cooperation can be explained by positing that cooperators can punish non-cooperators or cheaters. The experimental evidence...
Persistent link: https://www.econbiz.de/10009751389
and the other on predicting the choices of the second mover. The competitions are based on an estimation experiment and a … competition experiment. The two experiments use the same methods and subject pool, and examine games randomly selected from the … same distribution. The current introductory paper presents the results of the estimation experiment, and clarifies the …
Persistent link: https://www.econbiz.de/10009752422
explained by avoiding cognitive dissonance as in Konow (2000). Our experiment’s choice data is in line with this approach. In …
Persistent link: https://www.econbiz.de/10009752432
This paper investigates how the introduction of social preferences affects players’ equilibrium behavior in both the one-shot and the infinitely repeated version of the Prisoner’s Dilemma game. We show that fairness concerns operate as a ”substitute” for time discounting in the...
Persistent link: https://www.econbiz.de/10009752853
We expand upon the previous models of inequity aversion of Fehr and Schmidt [1], and Frohlich et al. [2], which assume that dictators get disutility if the final allocation of surplus deviates from the equal split (egalitarian principle) or from the subjects' production (libertarian principle)....
Persistent link: https://www.econbiz.de/10009754116