What are the equilibria in public-good experiments?

Wolff, Irenaeus

What are the equilibria in public-good experiments?

Dateien

Wolff_2-3dkgs9vf1ylt5.pdfGröße: 59.76 KBDownloads: 270

Datum

2017

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Economics Letters. 2017, 150, pp. 83-85. ISSN 0165-1765. eISSN 1873-7374. Available under: doi: 10.1016/j.econlet.2016.11.015

Zusammenfassung

Most social-preference models have been tailored to yield only a full-defection equilibrium in one- shot linear public-good situations. This paper determines the Nash-equilibrium sets that result from experiment participants’ elicited preferences. The data show that multiple equilibria are relatively frequent even in a standard three-player setting. In this perspective, the common finding of close-to- omnilateral defection at the end of repeated public-good games is surprising and raises the question of why the dynamics of play seem to select this equilibrium out of the existing equilibria.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Public good, Social dilemma, Nash-equilibrium, Conditional cooperation, Social preferences

Zitieren

ISO 690

WOLFF, Irenaeus, 2017. What are the equilibria in public-good experiments?. In: Economics Letters. 2017, 150, pp. 83-85. ISSN 0165-1765. eISSN 1873-7374. Available under: doi: 10.1016/j.econlet.2016.11.015

BibTex

@article{Wolff2017equil-46604,
  year={2017},
  doi={10.1016/j.econlet.2016.11.015},
  title={What are the equilibria in public-good experiments?},
  volume={150},
  issn={0165-1765},
  journal={Economics Letters},
  pages={83--85},
  author={Wolff, Irenaeus}
}

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