Shedding Light into Preference Heterogeneity: Why Players of Traveller’s Dilemma Depart from Individual Rationality?
AbstractWe analyse the experimental outcome of the Traveller's Dilemma under three different treatments - baseline (BT), compulsory ex post players' meeting (CET) and voluntary ex post players' meeting (VET) - to evaluate the effects of removal of anonymity (without preplay communication) in a typical one shot game in which there is a dilemma between individual rationality and aggregate outcome. We show that deviations from the Nash equilibrium outcome are compatible with the joint presence in the sample of individually rational, team-rational, (gift giving), "irrational" and (opportunistic) "one-shot-cooperator" types. The two main factors affecting deviations from the standard individually rational behaviour are male gender and the interaction of generalised trust with the decision of meeting the counterpart in the VET design.
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Bibliographic InfoPaper provided by Econometica in its series Econometica Working Papers with number wp09.
Date of creation: Mar 2009
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Traveller’s Dilemma; Team Preferences; Social Distance; Generalised Trust; Relational Goods;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-28 (All new papers)
- NEP-CBE-2009-03-28 (Cognitive & Behavioural Economics)
- NEP-EXP-2009-03-28 (Experimental Economics)
- NEP-GTH-2009-03-28 (Game Theory)
- NEP-SOC-2009-03-28 (Social Norms & Social Capital)
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