We study impersonal exchange, and ask how agents can behave honestly in anonymous transactions without contracts. We analyze repeated anonymous random matching games, where agents observe only their own transactions. Little is known about cooperation in this setting beyond the prisoner's...

This special issue of the International Review of Economics and Finance contributes to the received literature of the dynamics of international migration by highlighting the role of tradition in propelling migration; by admitting that the human capital formation response to the prospect of...

Integrating the Global Preference Survey (GPS) and its data of unique scope on national preference structures in patience, risk attitude and reciprocity into a gravity framework, this paper is the first to explore a potential influence on international trade outcomes of economic and social...

There are severe issues of public open space (POS) underinvestment and overexploitation. However, few studies have been conducted on the property rights structure and its impacts on rural commons governance, specifically concerning local neighbourhood residential POS quality and sustainability....

Social media offer many opportunities for organizations but present, at the same time, many challenges, too. Particular attention must be paid to the new patterns of behavior emerging in organizations. We argue that these patterns derive both from the technical characteristics of the virtual...

We provide a game-theoretic account of endogenous intrinsic motivation within a principal-agent framework. We explore the incentives of an altruistic principal who, by exerting costly effort, can intrinsically motivate a present-biased agent to exhibit a direct preference for more far-sighted...

Labour market theory underlies much of economic analysis with implications for theory and policy. I argue that conventional approaches to the labour market as well as more modern approaches represented by aspects of behavioural labour economics and Keynesian economics are often decontextualized...

This paper analyzes the equilibrium strength of prescriptive norms to contribute to public goods. We consider three methods of establishing what an acceptable contribution to the public good is. Under the first method, the contribution of the bottom contributor is the reference point by which...

Following Kreps (1979), I consider a decision maker who is uncertain about her future taste. This uncertainty leaves the decision maker with a preference for flexibility: When choosing among menus containing alternatives for future choice, she weakly prefers menus with additional alternatives....

Considerable evidence shows that people have optimistic beliefs about future outcomes. I present an axiomatic model of wishful thinking (WT), in which an endowed alternative, or status quo, influences the agent's beliefs over states and thus induces such optimism. I introduce a behavioral axiom...