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Accounting for real wealth in heterogeneous-endowment public good games

  • Nikolaos Georgantzís

    ()

    (GLOBE & Department of Economics, University of Granada)

  • Antonios Proestakis

    ()

    (GLOBE & Department of Economics, University of Granada)

Wealth heterogeneity infuences people's behavior in several socioeconomic environments, especially when groups consisting of "unequal" members have to take a collective action which affects all members equally or proportionally. After eliciting real out-of-lab wealth, we form 4-player groups playing an one-shot public good game with heterogeneous laboratory endowments. Endowing subjects according or against their real wealth gives rise to a series of interesting results. Endowment heterogeneity, lack of real relative wealth information and being "rich" both inside and outside the lab raise contributions. Finally, when eliciting subjects' beliefs, we find out that only relatively "poor" subjects expect others to contribute more than what they actually are prepared to do theirselves.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers10_20.pdf
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Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/20.

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Length: 26 pages
Date of creation: 01 Jun 2011
Date of revision:
Handle: RePEc:gra:wpaper:10/20
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  1. Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July.
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