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Individuals belonging to a social group make judgments about their relative standing within the group as well as about the relative standing of their group among other groups. On average, individuals exhibit overconfidence bias in both types of judgments in a variety of settings. We hypothesize,...
Persistent link: https://www.econbiz.de/10011051357
Although the role of formal and informal institutions in promoting economic growth and sustaining exchange relations is now well established, explaining and differentiating how informal and formal rules affect individual behavior remain a challenge. This study aims to distill the essential...
Persistent link: https://www.econbiz.de/10011349339
that avoid these costs and whether other, more centralized, punishment systems are superior and will be preferred by the … people. Here, we show that efficient peer sanctioning without much need for costly punishment emerges quickly if we introduce … social norm of high cooperation. This norm appears to guide subjects' cooperation and punishment choices, including the …
Persistent link: https://www.econbiz.de/10011784301
that avoid these costs and whether other, more centralized, punishment systems are superior and will be preferred by the … people. Here, we show that efficient peer sanctioning without much need for costly punishment emerges quickly if we introduce … social norm of high cooperation. This norm appears to guide subjects' cooperation and punishment choices, including the …
Persistent link: https://www.econbiz.de/10011786981
theoretic model showing how endogenous emotion-based punishment can sustain ull cooperation when interactions are not repeated …
Persistent link: https://www.econbiz.de/10010761906
laboratory experiment, subjects play a public good game with punishment in which feedback on actual contributions is obscured …
Persistent link: https://www.econbiz.de/10010842857
systems exist that avoid these costs and whether other, more centralized, punishment systems are superior and will be … preferred by the people. Here, we show that welfare-enhancing peer sanctioning without much need for costly punishment emerges …. The exogenous removal of the norm consensus opportunity reduces the efficiency of peer punishment and renders centralized …
Persistent link: https://www.econbiz.de/10011872060
preferred by the people. Here, we show that welfare-enhancing peer sanctioning without much need for costly punishment emerges …. The exogenous removal of the norm consensus opportunity reduces the efficiency of peer punishment and renders centralized … peer sanctioning with a norm consensus opportunity or an equally efficient institution with centralized punishment by an …
Persistent link: https://www.econbiz.de/10011873461
situation. In a laboratory experiment, subjects play a public good game with punishment in which feedback on actual … inflated beliefs about the contribution of others. This, in turn, impacts their contribution and punishment decisions. …
Persistent link: https://www.econbiz.de/10010702946
compliance: punishment and reputation. The model considers two groups of agents in a society with one norm. Agents in one group … enforced due to a higher level of punishment of the violation. In another scenario, everyone is motivated due to reputation … formation, despite a lower level of punishment by others. The interaction of two mechanisms provides a convenient way to norm …
Persistent link: https://www.econbiz.de/10010666059