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The paper shows that, as owners accumulate larger stakes and hence become less risk-tolerant, their incentives to monitor management are attenuated because monitoring shifts some of the firm's risk from management to owners. This counterbalances the positive effect which more concentrated...
Persistent link: https://www.econbiz.de/10010260562
We study the stability properties of organizations in partition function games, describing cooperative situations with externalities. An organization is defined as a group of agents, together with a set of bilateral relations, formally, a connected graph. Because of the presence of...
Persistent link: https://www.econbiz.de/10011335721
This paper studies behavior in experiments with a linear voluntary contributions mechanism for public goods conducted in Japan, the Netherlands, Spain and the USA. The same experimental design was used in the four countries. Our 'contribution function' design allows us to obtain a view of...
Persistent link: https://www.econbiz.de/10010325039
unique equilibrium where legal enforcement remains weak and individual values discourage cooperation. …
Persistent link: https://www.econbiz.de/10010264316
students, this paper presents a simple model showing that free riding incentives lead to an insufficient degree of cooperation …
Persistent link: https://www.econbiz.de/10010268541
Conditions for the emergence of cooperation in a spatial common-pool resource game are studied. This combines in a … three strategies: defection, cooperation, and enforcement. Individual payoffs are affected by both global factors, namely …
Persistent link: https://www.econbiz.de/10010312430
We study the conditions for the emergence of cooperation in a spatial common-pool resource game. We consider three …
Persistent link: https://www.econbiz.de/10010312507
We present results from a novel experiment on the effect of a policy designed to encourage cooperation in a prisoner …'s dilemma game. We find that the effect of this policy on the level of cooperation is greater when it was chosen democratically …
Persistent link: https://www.econbiz.de/10010318878
While there is an extensive literature on the theory of in finitely repeated games, empirical evidence on how “the … higher the levels of cooperation. We compare the behavior from these in finitely repeated games with behavior from finitely … repeated games of the same expected length and we find that there is more cooperation in the in finitely repeated games …
Persistent link: https://www.econbiz.de/10010318999
economics. This paper explores voting on a scheme of intergroup competition, which facilitates cooperation in a social dilemma … situation. Experimental results show that the competitive scheme fosters cooperation. Competition is popular, but the electoral …
Persistent link: https://www.econbiz.de/10010283979