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Performance of a reciprocity model in predicting a positive reciprocity decision

  • Bhirombhakdi, Kornpob
  • Potipiti, Tanapong

This study experimentally tests the performance in predicting decisions of a reciprocity model that was proposed by Dufwenberg et al. (2004). By applying a new approach, the study directly and individually predicts a subject's future decision from his past decision. The prediction performance is measured by the rate of correct predictions (accuracy) and the gain in the rate of the correct predictions (informativeness). Six scenarios of trust game are used to test the model's performance. Further, we compare the performance of the model with two other prediction methods; one method uses a decision in a dictator game to predict a decision in a trust game; the other uses personal information including IQ-test scores, personal attitudes and socio-economic factors. Seventy-nine undergraduate students participated in this hand-run experimental study. The results show that the reciprocity model has the best performance when compared with other prediction methods.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42326.

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Date of creation: 29 Oct 2012
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Handle: RePEc:pra:mprapa:42326
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  1. Bhirombhakdi, Kornpob, 2011. "Performance of a reciprocity model in predicting a positive reciprocity decision," MPRA Paper 37468, University Library of Munich, Germany.
  2. Fehr, Ernst & Schmidt, Klaus M., . "A theory of fairness, competition, and cooperation," Chapters in Economics, University of Munich, Department of Economics.
  3. Gary Bolton & Axel Ockenfels, 2005. "A stress test of fairness measures in models of social utility," Economic Theory, Springer, vol. 25(4), pages 957-982, 06.
  4. Charness, Gary B & Rabin, Matthew, 2001. "Understanding Social Preferences With Simple Tests," University of California at Santa Barbara, Economics Working Paper Series qt0dc3k4m5, Department of Economics, UC Santa Barbara.
  5. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
  6. Ernst Fehr & Simon Gaechter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," CESifo Working Paper Series 336, CESifo Group Munich.
  7. Geanakoplos, John & Pearce, David & Stacchetti, Ennio, 1989. "Psychological games and sequential rationality," Games and Economic Behavior, Elsevier, vol. 1(1), pages 60-79, March.
  8. Armin Falk & Urs Fischbacher, . "A Theory of Reciprocity," IEW - Working Papers 006, Institute for Empirical Research in Economics - University of Zurich.
  9. Margin Dufwenberg & Georg Kirchsteiger, 2001. "A Theory of Sequential Reciprocity," Levine's Working Paper Archive 563824000000000090, David K. Levine.
  10. McCabe, Kevin A. & Rigdon, Mary L. & Smith, Vernon L., 2003. "Positive reciprocity and intentions in trust games," Journal of Economic Behavior & Organization, Elsevier, vol. 52(2), pages 267-275, October.
  11. Friedel Bolle, 1998. "Rewarding Trust: An Experimental Study," Theory and Decision, Springer, vol. 45(1), pages 83-98, August.
  12. Stanca, Luca & Bruni, Luigino & Corazzini, Luca, 2009. "Testing theories of reciprocity: Do motivations matter?," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 233-245, August.
  13. Bhirombhakdi, Kornpob & Potipiti, Tanapong, 2012. "Cost of action, perceived intention, positive reciprocity, and signalling model," MPRA Paper 37469, University Library of Munich, Germany.
  14. John Geanakoplos & David Pearce & Ennio Stacchetti, 2010. "Psychological Games and Sequential Rationality," Levine's Working Paper Archive 587, David K. Levine.
  15. Csongor Csukas & Paulo Fracalanza & Tamas Kovacs & Marc Willinger, 2008. "The Determinants Of Trusting And Reciprocal Behaviour: Evidence From An Intercultural Experiment," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 33(1), pages 71-95, June.
  16. Falk, Armin & Fehr, Ernst & Fischbacher, Urs, 2008. "Testing theories of fairness--Intentions matter," Games and Economic Behavior, Elsevier, vol. 62(1), pages 287-303, January.
  17. Guala, Francesco & Mittone, Luigi, 2010. "Paradigmatic experiments: The Dictator Game," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(5), pages 578-584, October.
  18. Daniel Zizzo, 2010. "Experimenter demand effects in economic experiments," Experimental Economics, Springer, vol. 13(1), pages 75-98, March.
  19. James C. Cox & Cary A. Deck, 2005. "On the Nature of Reciprocal Motives," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 623-635, July.
  20. repec:cup:cbooks:9780521456821 is not listed on IDEAS
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