On the Co-evolution of Retribution and Trustworthiness: An (Indirect) Evolutionary and Experimental Analysis
AbstractStandard economic explanations of good conduct in trade rely almost exclusively on future-directed extrinsic motivations induced by material incentives. But intrinsic motives to behave trustworthy and to punish untrustworthiness do support trade. In our model, intrinsically motivated players are aware of their own type and observe the population share of other types. The material success of various types and their co-evolution are analyzed, and it is checked whether the dynamics of the indirect evolutionary analysis are replicated in the laboratory.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2006-18.
Length: 23 pages
Date of creation: Sep 2006
Date of revision:
Other versions of this item:
- Werner Güth & Hartmut Kliemt & M. Vittoria Levati & Georg von Wangenheim, 2007. "On the Coevolution of Retribution and Trustworthiness: An (Indirect) Evolutionary and Experimental Analysis," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(1), pages 143-157, March.
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-23 (All new papers)
- NEP-CBE-2006-09-23 (Cognitive & Behavioural Economics)
- NEP-EVO-2006-09-23 (Evolutionary Economics)
- NEP-EXP-2006-09-23 (Experimental Economics)
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