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The Impact of Redistribution Mechanisms in the Vote with the Wallet Game: Experimental Results

Listed author(s):
  • Becchetti, Leonardo

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

  • Salustri, Francesco

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

  • Pelligra, Vittorio

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

We use the Vote-with-the-Wallet game (VWG) to model socially or environmentally responsible consumption, an increasingly relevant but still under-researched phenomenon. Based on a theoretical model outlining game equilibria and the parametric interval of the related multiplayer prisoners’ dilemma (PD) we evaluate with a controlled lab experiment players’ behavior in the game and test the effects of an ex post redistribution mechanism between defectors and cooperators. Our findings document that the redistribution mechanism interrupts cooperation decay and stabilizes the share of cooperators at a level significantly higher, even though inferior to the Nash equilibrium.

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File URL: http://www.aiccon.it/pubblicazione/143-the-impact-of-redistribution-mechanisms-the-vote-with-the-wallet-game-experimental-results/
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Paper provided by Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 143-2015.

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Length: 51 pages
Date of creation: 22 Sep 2015
Handle: RePEc:ris:aiccon:2015_143
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  1. Becchetti, Leonardo & Salustri, Francesco, 2015. "The Vote With the Wallet as a Multiplayer Prisoner's Dilemma," AICCON Working Papers 141-2015, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
  2. Albrecht, Johan, 2006. "The use of consumption taxes to re-launch green tax reforms," International Review of Law and Economics, Elsevier, vol. 26(1), pages 88-103, March.
  3. Säll, Sarah & Gren, Ing-Marie, 2012. "Green consumption taxes on meat in Sweden," Department of Economics publications 9294, Swedish University of Agricultural Sciences, Department of Economics.
  4. Daniela Marconi, 2010. "Trade, technical progress and the environment: the role of a unilateral green tax on consumption," Temi di discussione (Economic working papers) 744, Bank of Italy, Economic Research and International Relations Area.
  5. Carpenter, Jeffrey P., 2007. "The demand for punishment," Journal of Economic Behavior & Organization, Elsevier, vol. 62(4), pages 522-542, April.
  6. G. Daniel & M. Arce & Todd Sandler, 2005. "The Dilemma of the Prisoners' Dilemmas," Kyklos, Wiley Blackwell, vol. 58(1), pages 3-24, 02.
  7. Fischbacher, Urs & Gachter, Simon & Fehr, Ernst, 2001. "Are people conditionally cooperative? Evidence from a public goods experiment," Economics Letters, Elsevier, vol. 71(3), pages 397-404, June.
  8. Anderson, Christopher M. & Putterman, Louis, 2006. "Do non-strategic sanctions obey the law of demand? The demand for punishment in the voluntary contribution mechanism," Games and Economic Behavior, Elsevier, vol. 54(1), pages 1-24, January.
  9. Leonardo Becchetti & Rocco Ciciretti & Ambrogio Dalò & Stefano Herzel, 2015. "Socially responsible and conventional investment funds: performance comparison and the global financial crisis," Applied Economics, Taylor & Francis Journals, vol. 47(25), pages 2541-2562, May.
  10. Urs Fischbacher & Simon Gachter, 2010. "Social Preferences, Beliefs, and the Dynamics of Free Riding in Public Goods Experiments," American Economic Review, American Economic Association, vol. 100(1), pages 541-556, March.
  11. David Masclet & Charles Noussair & Steven Tucker & Marie-Claire Villeval, 2003. "Monetary and Nonmonetary Punishment in the Voluntary Contributions Mechanism," American Economic Review, American Economic Association, vol. 93(1), pages 366-380, March.
  12. Couture, Toby & Gagnon, Yves, 2010. "An analysis of feed-in tariff remuneration models: Implications for renewable energy investment," Energy Policy, Elsevier, vol. 38(2), pages 955-965, February.
  13. Charles Noussair & Steven Tucker, 2005. "Combining Monetary and Social Sanctions to Promote Cooperation," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 649-660, July.
  14. Simon Gachter & Ernst Fehr, 2000. "Cooperation and Punishment in Public Goods Experiments," American Economic Review, American Economic Association, vol. 90(4), pages 980-994, September.
  15. Nikos Nikiforakis & Hans-Theo Normann, 2008. "A comparative statics analysis of punishment in public-good experiments," Experimental Economics, Springer;Economic Science Association, vol. 11(4), pages 358-369, December.
  16. repec:ilo:ilowps:357069 is not listed on IDEAS
  17. Sonnemans, Joep & Schram, Arthur & Offerman, Theo, 1999. "Strategic behavior in public good games: when partners drift apart," Economics Letters, Elsevier, vol. 62(1), pages 35-41, January.
  18. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, vol. 83(5), pages 1281-1302, December.
  19. Redfern, Andy. & Snedker, Paul., 2002. "Creating market opportunities for small enterprises : experiences of the fair trade movement," ILO Working Papers 993570693402676, International Labour Organization.
  20. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, Oxford University Press, vol. 87(3), pages 355-374.
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