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The co-evolution of reciprocity-based wage offers and effort choices

  • Schliffke, Philipp
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    I study the evolution of reciprocity in a gift-exchange game. In equilibrium, wage offers induce maximal effort but there is strong inequity in favor of the workers. The result suggests that norm-based efficiency wages may be unstable over time.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0165176512003011
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    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 117 (2012)
    Issue (Month): 1 ()
    Pages: 326-329

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    Handle: RePEc:eee:ecolet:v:117:y:2012:i:1:p:326-329
    Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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    1. Fehr, Ernst & Klein, Alexander & Schmidt, Klaus M., 2007. "Fairness and contract design," Munich Reprints in Economics 20618, University of Munich, Department of Economics.
    2. Fehr, Ernst & Schmidt, Klaus M., 1999. "A theory of fairness, competition, and cooperation," Munich Reprints in Economics 20650, University of Munich, Department of Economics.
    3. Ross Cressman, 2003. "Evolutionary Dynamics and Extensive Form Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262033054, June.
    4. Falk, Armin & Fischbacher, Urs, 2006. "A theory of reciprocity," Games and Economic Behavior, Elsevier, vol. 54(2), pages 293-315, February.
    5. Ernst Fehr & Simon Gachter & Georg Kirchsteiger, 1997. "Reciprocity as a Contract Enforcement Device: Experimental Evidence," Econometrica, Econometric Society, vol. 65(4), pages 833-860, July.
    6. Siegfried Berninghaus & Christian Korth & Stefan Napel, 2007. "Reciprocity—an indirect evolutionary analysis," Journal of Evolutionary Economics, Springer, vol. 17(5), pages 579-603, October.
    7. M. Rabin, 2001. "Incorporating Fairness into Game Theory and Economics," Levine's Working Paper Archive 511, David K. Levine.
    8. Geanakoplos, John & Pearce, David & Stacchetti, Ennio, 1989. "Psychological games and sequential rationality," Games and Economic Behavior, Elsevier, vol. 1(1), pages 60-79, March.
    9. Herold, Florian & Kuzmics, Christoph, 2009. "Evolutionary stability of discrimination under observability," Games and Economic Behavior, Elsevier, vol. 67(2), pages 542-551, November.
    10. Werner Güth & Hartmut Kliemt, 1994. "Competition Or Co-Operation: On The Evolutionary Economics Of Trust, Exploitation And Moral Attitudes," Metroeconomica, Wiley Blackwell, vol. 45(2), pages 155-187, 06.
    11. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November.
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