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Monetary theorists have advanced an intriguing notion: we exchange money to make up for a lack of enforcement, when it is difficult to monitor and sanction opportunistic behaviors. We demonstrate that, in fact, monetary equilibrium cannot generally be sustained when monitoring and punishment...
Persistent link: https://www.econbiz.de/10010226612
Studies of cooperation in infinitely repeated matching games focus on homogeneous economies, where full cooperation is …
Persistent link: https://www.econbiz.de/10011584447
Persistent link: https://www.econbiz.de/10012207476
Persistent link: https://www.econbiz.de/10011758565
We use skin conductance responses and self-reports of hedonic valence to study the emotional basis of cooperation and …. The application of sanctions activates a virtuous emotional circle that accompanies cooperation. Emotionally aroused … punished, and increase their subsequent level of cooperation. The outcome is an increased level of contribution that becomes …
Persistent link: https://www.econbiz.de/10010278702
different benefits from cooperation. Although almost all heterogeneous groups agree to follow specific contribution rules with …
Persistent link: https://www.econbiz.de/10011401649
Monetary theorists have advanced an intriguing notion: we exchange money to make up for a lack of enforcement, when it is difficult to monitor and sanction opportunistic behaviors. We demonstrate that, in fact, monetary equilibrium cannot generally be sustained when monitoring and punishment...
Persistent link: https://www.econbiz.de/10010327830
We investigate the impact of various audit schemes on the future provision of public goods, when contributing less than the average of the group is sanctioned exogenously and the probability of an audit is unknown. We study how individuals update their beliefs about the probability of being...
Persistent link: https://www.econbiz.de/10010333263
Studies of cooperation in infinitely repeated matching games focus on homogeneous economies, where full cooperation is …
Persistent link: https://www.econbiz.de/10011584815
crucial in promoting large-scale cooperation. …
Persistent link: https://www.econbiz.de/10010427219