Freytag, Andreas; Güth, Werner; Koppel, Hannes; … - In: European Journal of Political Economy 33 (2014) C, pp. 71-84
We analyze the effect of “milestones” on reaching a long-term target, which if missed implies dramatic payoff risks. In our experiment, a cumulative threshold public goods game, milestones are captured by intermediate contribution targets on the way to the final target. Missing the final...