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This paper presents a formal theory of reciprocity. Reciprocity means that people reward kind actions and punish unkind …
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behaviour that have been documented in a number of experimental studies, whereas existing models of intention-based reciprocity …
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It is estimated that a trillion dollars are annually exchanged in bribes, distorting justice and economic efficiency. In a novel experiment, we investigate the drivers of bribery. Two participants compete for a prize; a referee picks the winner. Participants can bribe the referee. When the...
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