experiment. In each period of their life both partners propose a consumption level of which one is then randomly implemented … straightforward in the sense of conditional consumption smoothing. Participants achieve a rather high degree of efficiency that does …

expectations in an experiment. In eachperiod of their life both partners propose a consumption level one of which isthen randomly … punished by their partners.On average participants stay on egoistic consumption paths, although inlater periods their behavior … shifts in the direction of consumption paths leadingto equal payoffs. …

experiment. In each period of their life both partners propose a consumption level of which one is then randomly implemented. In … spite of the complex dynamics optimal behavior is rather simple and straightforward in the sense of conditional consumption … behavior shifts in the direction of consumption paths leading to equal payoffs. …