We examine the link between social institutions and individuals' propensity to cooperate in a simple game theoretic framework. To begin, we transform the usual prisoner's dilemma game over material payoffs into one with utility payoffs by including non-material preferences. By introducing a...

Recent work suggests that individuals'willingness-to-accept (WA) measures of value differ from their willingness-to-pay (WP) measures of value. This divergence has been attributed to some combination of wealth and "endowment" effects. Because WA is always higher than WP, market-supported...