Dynamic Voluntary Contribution to a Public Good:Learning to be a Free Rider
This paper explores the question whether boundedly rational agents learn to behave optimally when asked to voluntarily contribute to a public good. The decision process of individuals is described by an Evolutionary Algorithm. We find that the contribution level converges towards the Nash equilibrium although exact free rider-behavior is never observed. The latter result corresponds to findings from experiments on voluntary contribution to a public good. Crucial determinants of the learning process are the population size and the propensity to experiment.
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|Date of creation:||01 Apr 2001|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.econometricsociety.org/conference/SCE2001/SCE2001.htmlEmail: |
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