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In phase 1 of our experiment every participant plays the ultimatum game with each of the other five group members, each taking the role of proposer and responder. For each of the offers one learns how many participants would have accepted it. The pie is 30 times larger in phase 2. It thus pays...
Persistent link: https://www.econbiz.de/10005515330
It is often claimed that, if one could sense whether the other is going to cooperate or not, cooperators will manage to cooperate. Our experiment tries to shed new light on this debate. Participants could make their strategies in an asymmetric prisoner's dilemma game and a trust game dependent...
Persistent link: https://www.econbiz.de/10005227229
In plausible theories of bounded rationality actors are not stimulus-response machines but human beings. As such they are guided by theories that predict the course of the world and prescribe how they should try to intervene in that course. Since boundedly rational human beings cannot only...
Persistent link: https://www.econbiz.de/10005866778
Persistent link: https://www.econbiz.de/10001583295
Taking seriously the philosophical foundations of classical strategic theories of choice-making we scrutinize to what extent planning on equilibrium strategies can be justified "eductively" among rational players and how this can be utilizes to analyze games by their "game-like" sub-structures,...
Persistent link: https://www.econbiz.de/10005212312
Problems of social coordination can be formalized as non-cooperative games with several equilibria. We know that in such situations serious problems of equilibrium selection arise which cannot be solved by traditional game theoretical reasoning. Conventions seem to be a powerful tool to solve...
Persistent link: https://www.econbiz.de/10005730447
The phenomenon of predating predators requires at least three specimens to whom we refer as players 1, 2, and 3. Player 1 has simply to guess nature when trying to find food. Player 2 is hunting player 1 in the hope that 1 is well fed but must also avoid being hunted by player 3. One major...
Persistent link: https://www.econbiz.de/10005730450
In this paper we report experimental results that relate to the recprocity experiment of Berg, Dickhaut, and McCabe (1995). We consider direct reciprocity, which means to respond in kind to another person, and indirect reciprocity, understoode as rewarding someone else. Another variation conerns...
Persistent link: https://www.econbiz.de/10005730451
Persistent link: https://www.econbiz.de/10005730452
Experimental studies have shown that trust and reciprocity are effective in increasing efficiency when complete contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who receives the investment is the one who may reward the...
Persistent link: https://www.econbiz.de/10005730473