Accounting for real wealth in heterogeneous-endowment public good games
AbstractWealth 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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Bibliographic InfoPaper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/20.
Length: 26 pages
Date of creation: 01 Jun 2011
Date of revision:
Public goods; experiment; endowment heterogeneity; real wealth;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-18 (All new papers)
- NEP-CBE-2011-06-18 (Cognitive & Behavioural Economics)
- NEP-EXP-2011-06-18 (Experimental Economics)
- NEP-GTH-2011-06-18 (Game Theory)
- NEP-PBE-2011-06-18 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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