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In this paper we consider the effect of quantity restrictions and scrutiny on the consumption of quasi-free goods. A good is quasi-free if it is zero priced, but it is consumed in the context of a social setting (e.g., as an employee, client, friend, etc.). Examples include cookies at a picnic,...
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We derive, compare, and test the predictions of three models of gift exchange: Classical (CGE); Augmented (AGE) based on unexpected wage surprises and first order beliefs; and Belief-based (BGE) that uses second order beliefs to formally model guilt-aversion. Motivated by Akerlof (1982), we also...
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literature by implementing a modified dictator game where gifts to dictators are possible, but where gift transactions are also … outcomes. In addition, this study uses both monetary and non-monetary gifts; previous studies typically use only monetary … marketing gifts. The results show that on average, dictators reciprocated strongly to just the intention to give a gift, and …
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