When best-replies are not in Equilibrium : Understanding Cooperative Behaviour

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WOLFF, Irenaeus, 2013. When best-replies are not in Equilibrium : Understanding Cooperative Behaviour

@techreport{Wolff2013best--30231, series={Working Paper Series / Department of Economics}, title={When best-replies are not in Equilibrium : Understanding Cooperative Behaviour}, year={2013}, number={2013-28}, author={Wolff, Irenaeus} }

<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/30231"> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/30231"/> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2015-03-12T10:41:32Z</dc:date> <dc:creator>Wolff, Irenaeus</dc:creator> <dcterms:issued>2013</dcterms:issued> <dc:contributor>Wolff, Irenaeus</dc:contributor> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2015-03-12T10:41:32Z</dcterms:available> <dcterms:abstract xml:lang="eng">To understand cooperative behaviour in social-dilemma experiments, we need to understand the game participants play not only in monetary but in preference terms. Does a Nash-prediction based on participants’ actual preferences describe their behaviour in a public-good experiment well? And if not, where does the observed behaviour diverge from the prediction? This study provides an environment which allows to answer these questions: when making their contribution decision, participants are informed about their co-players’ priorly-elicited conditionalcontribution preferences. This induces common knowledge of preferences and thereby leads to direct experimental control over the game participants play. Results show that most people play best-responses to their beliefs. At the same time, beliefs in a third of the cases do not correspond to an equilibrium prediction that is based on the elicited conditional-cooperation preferences. Moreover, more often than not, beliefs are empirically inaccurate. This hods true even in a treatment that gives participants the option to look up the set of equilibria of their game.</dcterms:abstract> <dcterms:title>When best-replies are not in Equilibrium : Understanding Cooperative Behaviour</dcterms:title> <dc:language>eng</dc:language> <dcterms:rights rdf:resource="http://nbn-resolving.org/urn:nbn:de:bsz:352-20140905103605204-4002607-1"/> </rdf:Description> </rdf:RDF>

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