A Continuous Dilemma âˆ—
We study prisonerâ€™s dilemmas played in continuous time with ï¬‚ow payoï¬€s over 60 seconds. In most cases, the median rate of mutual cooperation rises to 90% or more. Control sessions with 8-time repeated matchings achieve less than half as much cooperation, and cooperation rates approach zero in one-shot control sessions. In follow-up sessions with a variable number of subperiods, cooperation rates increase nearly linearly as the grid size decreases and, with one-second subperiods, they approach the level seen in continuous sessions. Our data support a strand of theory that explains how the capacity to respond rapidly stabilizes cooperation and destabilizes defection in the prisonerâ€™s dilemma.
|Date of creation:||10 Sep 2009|
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- Yoella Bereby-Meyer & Alvin E. Roth, 2006.
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"The Evolution of Cooperation in Infinitely Repeated Games: Experimental Evidence,"
2007-7, Brown University, Department of Economics.
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- Pedro Dal Bó, 2005.
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American Economic Review,
American Economic Association, vol. 95(5), pages 1591-1604, December.
- Pedro Dal Bó, 2002. "Cooperation Under the Shadow of the Future: Experimental Evidence from Infinitely Repeated Games," Working Papers 2002-20, Brown University, Department of Economics.
- Bergin, James & MacLeod, W Bentley, 1993. "Continuous Time Repeated Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 21-37, February.
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