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The triadic design to identify trust and reciprocity: Extensions and robustness

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  • Di Bartolomeo Giovanni
  • Papa Stefano

Abstract

Our paper reconsiders the triadic design proposed by Cox (2004) to identify trust and reciprocity in investment games. Specifically, we extend the design in two directions. First, we elicit expectations by a fixed-fee incentive scheme and test the coherence of them with the triadic outcomes. We expect that if trust is reported by the triadic design, investors’ expected gains should be also observed. Second, we collect information about participants’ choices by using both direct-response (as Cox) and strategy method. By the latter we are able to control reciprocity for initial inequality, which is endogenous when reciprocity is investigated. Finally, we test the existence of an emotional bias, i.e. we test if expectations mismatches induce participant to change actual choices from the planned ones.

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Paper provided by Department of Communication, University of Teramo in its series wp.comunite with number 0096.

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Date of creation: Nov 2012
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Handle: RePEc:ter:wpaper:0096

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Web page: http://wp.comunite.it/

Related research

Keywords: Conditional and unconditional motivations; other-regarding preferences; trust; reciprocity; investment game; expectation; inequality; strategy method;

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  1. W. Guth & R. Schmittberger & B. Schwartz, 2010. "An experimental analysis of ultimatum bargaining," Levine's Working Paper Archive 291, David K. Levine.
  2. Charness, Gary & Haruvy, Ernan, 2002. "Altruism, equity, and reciprocity in a gift-exchange experiment: an encompassing approach," Games and Economic Behavior, Elsevier, vol. 40(2), pages 203-231, August.
  3. Stanca, Luca & Bruni, Luigino & Corazzini, Luca, 2009. "Testing theories of reciprocity: Do motivations matter?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 233-245, August.
  4. Brülhart, Marius & Usunier, Jean-Claude, 2012. "Does the trust game measure trust?," Economics Letters, Elsevier, vol. 115(1), pages 20-23.
  5. Stanca, Luca, 2010. "How to be kind? Outcomes versus intentions as determinants of fairness," Economics Letters, Elsevier, vol. 106(1), pages 19-21, January.
  6. James C. Cox & Klarita Sadiraj & Vjollca Vjollca, . "Implications of Trust, Fear, and Reciprocity for Modeling Economic Behavior," Experimental Economics Center Working Paper Series 2006-10, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  7. G. Coricelli & L.G. Morales & A. Mahlstedt, . "The investment game with asymmetric information," Papers on Strategic Interaction 2003-29, Max Planck Institute of Economics, Strategic Interaction Group.
  8. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
  9. Luca Stanca & Luigino Bruni & Marco Mantovani, 2011. "The effect of motivations on social indirect reciprocity: an experimental analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 18(17), pages 1709-1711.
  10. Benedetto Gui & Luca Stanca, 2010. "Happiness and relational goods: well-being and interpersonal relations in the economic sphere," International Review of Economics, Springer, vol. 57(2), pages 105-118, June.
  11. James C. Cox & Cary A. Deck, 2006. "When are Women More Generous than Men?," Experimental Economics Center Working Paper Series 2006-07, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  12. Nava Ashraf & Iris Bohnet & Nikita Piankov, 2006. "Decomposing trust and trustworthiness," Experimental Economics, Springer, vol. 9(3), pages 193-208, September.
  13. James C. Cox, 2007. "Trust and Reciprocity: Implications of Game Triads and Social Contexts," Experimental Economics Center Working Paper Series 2007-08, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University, revised May 2008.
  14. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  15. Gary Charness, 2004. "Attribution and Reciprocity in an Experimental Labor Market," Journal of Labor Economics, University of Chicago Press, vol. 22(3), pages 665-688, July.
  16. Jordi Brandts & Gary Charness, 2011. "The strategy versus the direct-response method: a first survey of experimental comparisons," Experimental Economics, Springer, vol. 14(3), pages 375-398, September.
  17. James C. Cox & Cary A. Deck, 2005. "On the Nature of Reciprocal Motives," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 623-635, July.
  18. Cox, James C., 2004. "How to identify trust and reciprocity," Games and Economic Behavior, Elsevier, vol. 46(2), pages 260-281, February.
  19. Manski, Charles F., 2002. "Identification of decision rules in experiments on simple games of proposal and response," European Economic Review, Elsevier, vol. 46(4-5), pages 880-891, May.
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