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Belief-dependent preferences and reputation: Experimental analysis of a repeated trust game

Author

Listed:
  • Giuseppe Attanasi

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Pierpaolo Battigalli

    (Bocconi University & IGIER)

  • Elena Manzoni

    (UNIMIB - Università degli Studi di Milano-Bicocca = University of Milano-Bicocca)

  • Rosemarie Nagel

    (UPF - Universitat Pompeu Fabra [Barcelona], ICREA - Institució Catalana de Recerca i Estudis Avançats = Catalan Institution for Research and Advanced Studies)

Abstract

We study in a theoretical and experimental setting the interaction between belief-dependent preferences and reputation building in a finitely repeated trust game. We focus mainly on the effect of guilt aversion. In a simple two-type model, we analyze the effect of reputation building in the presence of guilt-averse trustees and derive behavioral predictions. We test these predictions in a laboratory experiment where we elicit information on trustees' belief-dependent preferences and disclose it to the paired trustor before the repeated game.

Suggested Citation

  • Giuseppe Attanasi & Pierpaolo Battigalli & Elena Manzoni & Rosemarie Nagel, 2019. "Belief-dependent preferences and reputation: Experimental analysis of a repeated trust game," Post-Print halshs-01948364, HAL.
    • Handle: RePEc:hal:journl:halshs-01948364
    DOI: 10.1016/j.jebo.2018.12.002
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    Citations

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    Cited by:

    1. Attanasi, Giuseppe & Rimbaud, Claire & Villeval, Marie Claire, 2019. "Embezzlement and guilt aversion," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 409-429.
    2. Maxime Perodaud & Michela Chessa, 2026. "Hey, what did you expect ? Confirmation bias in credence goods markets: Theoretical and experimental analyses," Post-Print hal-05441370, HAL.
    3. Zheng, Kaiming & Wang, Xiaoyuan & Ni, Debing, 2021. "Reciprocity information and wage personalization," China Economic Review, Elsevier, vol. 68(C).
    4. Attanasi, Giuseppe & Rimbaud, Claire & Villeval, Marie Claire, 2023. "Guilt aversion in (new) games: Does partners' payoff vulnerability matter?," Games and Economic Behavior, Elsevier, vol. 142(C), pages 690-717.
    5. Pierpaolo Battigalli & Martin Dufwenberg, 2022. "Belief-Dependent Motivations and Psychological Game Theory," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 833-882, September.
    6. Giuseppe De Marco & Maria Romaniello & Alba Roviello, 2025. "Guilt Aversion and Ambiguity in the Battle of Sexes Game," Mathematics, MDPI, vol. 13(10), pages 1-30, May.
    7. Giuseppe Attanasi & Kene Boun My & Nikolaos Georgantzís & Miguel Ginés, 2019. "Strategic Ethics: Altruism without the Other-Regarding Confound," Revue économique, Presses de Sciences-Po, vol. 70(6), pages 967-998.
    8. Giuseppe Attanasi & Claire Rimbaud & Marie-Claire Villeval, 2020. "Guilt Aversion in (New) Games: the Role of Vulnerability," GREDEG Working Papers 2020-15, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    9. Pierpaolo Battigalli & Roberto Corrao & Martin Dufwenberg, 2019. "Incorporating Belief-Dependent Motivation in Games Abstract:Psychological game theory (PGT), introduced by Geanakoplos, Pearce & Stacchetti (1989) and significantly generalized by Battigalli & Dufwenberg (2009), extends the standard gametheoretic fra," Working Papers 642, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    10. Battigalli, Pierpaolo & Corrao, Roberto & Dufwenberg, Martin, 2019. "Incorporating belief-dependent motivation in games," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 185-218.
    11. repec:hal:wpaper:halshs-03620418 is not listed on IDEAS
    12. Rossella Ferrario & Elena Manzoni, 2022. "Emotions matter for policy-making: An example on tacit collusion and guilt," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 6(S1), pages 67-72, July.
    13. Renaud Foucart & Jonathan H. W. Tan, 2024. "A test of loyalty," Theory and Decision, Springer, vol. 97(1), pages 109-137, August.
    14. Kaiming Zheng & Xiaoyuan Wang & Debing Ni & Yang Yang, 2020. "Reciprocity and Veto Power in Relation-Specific Investments: An Experimental Study," Sustainability, MDPI, vol. 12(10), pages 1-19, May.
    15. Della Lena, Sebastiano & Manzoni, Elena & Panebianco, Fabrizio, 2023. "On the transmission of guilt aversion and the evolution of trust," Games and Economic Behavior, Elsevier, vol. 142(C), pages 765-793.
    16. Khalmetski, Kiryl, 2019. "Evasion of guilt in expert advice," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 296-310.
    17. Pierpaolo Battigalli & Martin Dufwenberg, 2019. "Psychological Game Theory," Working Papers 646, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    18. Jagau, Stephan & Perea, Andrés, 2022. "Common belief in rationality in psychological games," Journal of Mathematical Economics, Elsevier, vol. 100(C).
    19. Ren Tan & Kairong Hong, 2021. "Research on Extreme Dispute Decisions of Large-Scale Engineering Projects from the Perspective of Multidimensional Preferences," Mathematics, MDPI, vol. 9(22), pages 1-24, November.
    20. Matthias Greiff, 2019. "Team Production and Esteem: A Dual Selves Model with Belief-Dependent Preferences," Games, MDPI, vol. 10(3), pages 1-20, August.
    21. Sibilla Di Guida & The Anh Han & Georg Kirchsteiger & Tom Lenaerts & Ioannis Zisis, 2021. "Repeated Interaction and Its Impact on Cooperation and Surplus Allocation—An Experimental Analysis," Games, MDPI, vol. 12(1), pages 1-19, March.
    22. Serge Garcia & Julien Jacob & Eve-Angéline Lambert, 2021. "Efficiency of sharing liability rules: An experimental case," Working Papers of BETA 2021-07, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    23. Dhami, Sanjit & Wei, Mengxing & al-Nowaihi, Ali, 2019. "Public goods games and psychological utility: Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 361-390.
    24. Giuseppe De Marco & Maria Romaniello & Alba Roviello, 2024. "A Note on guilt aversion in the Battle of Sexes game," CSEF Working Papers 741, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.

    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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