Inspired by Karl Polanyi’s writings on three allocation modes, namely reciprocity, exchange and redistribution, we … first tested a reciprocity ring with ten players. The baseline treatment, with no possibility of socialisation, displayed … very low levels of allocative efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing …

indicates that this is indeed likely to be the case. But reciprocity or gift-exchange induces social relations. The utility …Is gift-exchange inevitably to be crowded out by impersonal market exchange? The presence of a thick-market externality … as moral sentiments are valued high enough it is shown that both market and gift-exchange can coexist. The spontaneous …

–Gibbs distribution with additive exchange and condenses with a multiplicative one. If bankruptcy is introduced, both types of exchange … lead to condensation. Condensation times have been studied. In the second part, the agents are placed in a social network … values of network connectivity. …

(IPD). In line with the concept of direct reciprocity, I found that participants in the traditional IPD with an unknown …

Network reciprocity has been successfully put forward (since M. A. Nowak and R. May's, 1992, influential paper) as the … systems. The mechanism is actually the network, which makes agents' interactions localized, while network reciprocity is the … is replaced by the more rational best-response rule of strategy update. In social experiments, network reciprocity has …