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Accounting for real wealth in heterogeneous-endowment public good games

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Author Info

  • Nikolaos Georgantzís

    ()
    (GLOBE & Department of Economics, University of Granada)

  • Antonios Proestakis

    ()
    (GLOBE & Department of Economics, University of Granada)

Abstract

Wealth heterogeneity infuences people's behavior in several socioeconomic environments, especially when groups consisting of "unequal" members have to take a collective action which affects all members equally or proportionally. After eliciting real out-of-lab wealth, we form 4-player groups playing an one-shot public good game with heterogeneous laboratory endowments. Endowing subjects according or against their real wealth gives rise to a series of interesting results. Endowment heterogeneity, lack of real relative wealth information and being "rich" both inside and outside the lab raise contributions. Finally, when eliciting subjects' beliefs, we find out that only relatively "poor" subjects expect others to contribute more than what they actually are prepared to do theirselves.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers10_20.pdf
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Bibliographic Info

Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/20.

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Length: 26 pages
Date of creation: 01 Jun 2011
Date of revision:
Handle: RePEc:gra:wpaper:10/20

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Keywords: Public goods; experiment; endowment heterogeneity; real wealth;

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References

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  1. Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July.
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Cited by:
  1. Agathe Rouaix & Charles Figuières & Marc Willinger, 2013. "The trade-off between welfare and equality in a public good experiment," Working Papers 13-03, LAMETA, Universtiy of Montpellier, revised Feb 2013.
  2. Annarita COLASANTE & Alberto RUSSO, 2014. "The Impact of Inequality on Cooperation: An Experimental Study," Working Papers 401, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  3. Kesternich, Martin & Lange, Andreas & Sturm, Bodo, 2012. "The impact of burden sharing rules on the voluntary provision of public goods," ZEW Discussion Papers 12-033, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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