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Reputation Without Repeated Interaction: A Role for Public Disclosures

Author

Listed:
  • Steven T. Schwartz

    (Binghamton University)

  • Richard A. Young

    (The Ohio State University)

  • Kristina Zvinakis

    (The Ohio State University)

Abstract

This paper conductsan experiment to investigate the economic effect of public disclosureswithin a multi-move adaptation of the Prisoner's Dilemma game.The game, which has multiple equilibria, is characterized by:(1) a stochastic endpoint, (2) random, repeated pairings withanonymous partners, and (3) public disclosures concerning thecurrent partner's previous strategies. In the experiment, cooperationis improved by the disclosures. In addition, subjects cooperatemore frequently when encountering a player who has tended tocooperate in the past, and less frequently when encounteringa player who has tended to defect in the past. Delayed disclosureleads to levels of cooperation only slightly less than thoseobtained with timely disclosure.

Suggested Citation

  • Steven T. Schwartz & Richard A. Young & Kristina Zvinakis, 2000. "Reputation Without Repeated Interaction: A Role for Public Disclosures," Review of Accounting Studies, Springer, vol. 5(4), pages 351-375, December.
    • Handle: RePEc:spr:reaccs:v:5:y:2000:i:4:d:10.1023_a:1026501807727
    DOI: 10.1023/A:1026501807727
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    References listed on IDEAS

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