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In physical models it is well understood that the aggregate behaviour of a system is not in one to one correspondence with the behaviour of the average individual element of that system. Yet, in many economic models the behaviour of aggregates is thought of as corresponding to that of an...
Persistent link: https://www.econbiz.de/10009281654
Persistent link: https://www.econbiz.de/10008528496
This study shows a public good experiment with four different treatments. The payoff function is chosen so that the Nash equilibrium (NE) and the collective optimum (CO) are both in the interior of the strategy space. This study tries to test the effect of varying the level of the collective...
Persistent link: https://www.econbiz.de/10005468336