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: that altruistic punishment can sustain cooperation. This paper extends their model in order to explain such recent findings …. It focuses on fear of punishment, not punishment itself, as the key mechanism to sustain contributions to the public good … differs, on average, in less than 5% compared to relevant experiments with punishment in the lab. …
Persistent link: https://www.econbiz.de/10011569202
The public goods problem or the “tragedy of the commons,” (Hardin, 1968) either viewed as a problem of extraction or that of contribution has had a rich history in Economics and indeed in other social sciences like Anthropology, Sociology and Political Science. Our research examines free...
Persistent link: https://www.econbiz.de/10013107187
This paper studies a game of strategic experimentation in which the players have access to two-armed bandits where the risky arm distributes lumpsum payoffs according to a Poisson process with unknown intensity. Because of free-riding, there is an inefficiently low level of experimentation in...
Persistent link: https://www.econbiz.de/10011410236
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010440933
The law and economics literature has long theorized that one of the goals of law enforcement is specific deterrence … the learning process that underlies the theory of specific deterrence and, more specifically, whether potential repeat … experiment, participants could cheat for an increased monetary payoff at the risk of paying a fine, in the face of an uncertain …
Persistent link: https://www.econbiz.de/10014079754
competitive, the collusive, and the Cournot-Nash outcome, respectively. In the experiment we employ three information treatments …
Persistent link: https://www.econbiz.de/10010371113
a process that is independent from the severity of the sanction. We test this presumption experimentally, using a taking …
Persistent link: https://www.econbiz.de/10013291030
competitive, the collusive, and the Cournot-Nash outcome, respectively. In the experiment we employ three information treatments …
Persistent link: https://www.econbiz.de/10010324581
Persistent link: https://www.econbiz.de/10009713865
This paper studies a game of strategic experimentation in which the players have access to two-armed bandits where the risky arm distributes lump-sum payoffs according to a Poisson process with unknown intensity. Because of free-riding, there is an inefficiently low level of experimentation in...
Persistent link: https://www.econbiz.de/10013320496