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Social Effects in a Multi-Agent Investment Game. An Experimental Analysis

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Luigi Mittone ()
Matteo Ploner ()

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Abstract

We experimentally investigate social effects in a principal-agent setting with incomplete contracts. The strategic interaction scheme is based on the Investment Game (Berg et al., 1995). In our setting four trustees and one trustor are interacting and the access to choices of peers in the group of trustees is experimentally manipulated. We find that when the trust- worthiness of some participants is made available to peers, the high levels of trustworthiness displayed by those being observed tend to negatively impact on the trustworthiness of those observing them.

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Paper provided by Computable and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia in its series CEEL Working Papers with number 0805.

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Date of creation: 2008
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Handle: RePEc:trn:utwpce:0805

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  1. Guth, Werner & Levati, M. Vittoria & Sutter, Matthias & van der Heijden, Eline, 2007. "Leading by example with and without exclusion power in voluntary contribution experiments," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 1023-1042, June. [Downloadable!] (restricted)
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  2. Hoffman Elizabeth & McCabe Kevin & Shachat Keith & Smith Vernon, 1994. "Preferences, Property Rights, and Anonymity in Bargaining Games," Games and Economic Behavior, Elsevier, vol. 7(3), pages 346-380, November. [Downloadable!] (restricted)
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  4. Potters, J.J.M. & Shefton, M. & Vesterlund, L., 2003. "After you - endougenous sequencing in voluntary contribution games," Discussion Paper 98, Tilburg University, Center for Economic Research. [Downloadable!]
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  5. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November. [Downloadable!] (restricted)
  6. Moxnes, E. & Heijden, E. van der, 2000. "The effect of leadership in a public bad experiment," Discussion Paper 102, Tilburg University, Center for Economic Research. [Downloadable!]
  7. Ernst Fehr & Klaus M. Schmidt, 1999. "A Theory Of Fairness, Competition, And Cooperation," The Quarterly Journal of Economics, MIT Press, vol. 114(3), pages 817-868, August. [Downloadable!] (restricted)
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  8. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-38, May. [Downloadable!] (restricted)
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  9. Rege, Mari & Telle, Kjetil, 2004. "The impact of social approval and framing on cooperation in public good situations," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1625-1644, July. [Downloadable!] (restricted)
  10. Soetevent, Adriaan R., 2005. "Anonymity in giving in a natural context--a field experiment in 30 churches," Journal of Public Economics, Elsevier, vol. 89(11-12), pages 2301-2323, December. [Downloadable!] (restricted)
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  19. Bardsley, Nicholas & Sausgruber, Rupert, 2005. "Conformity and reciprocity in public good provision," Journal of Economic Psychology, Elsevier, vol. 26(5), pages 664-681, October. [Downloadable!] (restricted)
  20. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June. [Downloadable!] (restricted)
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  1. Gächter, Simon & Nosenzo, Daniele & Sefton, Martin, 2008. "The Impact of Social Comparisons on Reciprocity," IZA Discussion Papers 3639, Institute for the Study of Labor (IZA). [Downloadable!]
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