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"Social Norms and Voluntary Cooperations"(in Japanese)

Author

Listed:
  • Masahiro Okuno-Fujiwara

    (Faculty of Economics, University of Tokyo)

  • Takako Fujiwara-Greve

    (Department of Economics, Keio University)

  • Nobue Suzuki

    (Department of Economics, Komazawa University)

Abstract

Unlike the ordinary repeated games, in the real world, people can run away after cheating. In this paper we construct a social game, in which players can repeat Prisoners' Dilemma only if both players agree to continue the partnership. We investigate how a social sanction prevents moral hazard in such a voluntary relationship. We have three conclusions. First, it is possible to enforce voluntary long-term cooperation by trust-building. Second, the trust-building periods can be shortened under diverse strategy distributions. Third, if there is a reference letter system which conveys information that a partnership ended by an unavoidable cause, then the trust-building periods can be shortened as well.

Suggested Citation

  • Masahiro Okuno-Fujiwara & Takako Fujiwara-Greve & Nobue Suzuki, 2007. ""Social Norms and Voluntary Cooperations"(in Japanese)," CIRJE J-Series CIRJE-J-172, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:jseres:2007cj172
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    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2007/2007cj172.pdf
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    Cited by:

    1. Takako Fujiwara-Greve & Masahiro Okuno-Fujiwara, 2009. "Voluntarily Separable Repeated Prisoner's Dilemma," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(3), pages 993-1021.

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