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How do People Play a Repeated Trust Game? Experimental Evidence

  • Bornhorst, Fabian

    (Department of Economics, European University Institute)

  • Ichino, Andrea

    (Department of Economics, European University Institute)

  • Kirchkamp, Oliver

    ()

    (Sonderforschungsbereich 504)

  • Schlag, Karl H.

    (Economics Dept. 3, University of Bonn)

  • Winter, Eyal

    (Center of Rationality and Interactive Decision Theory, Hebrew University of Jerusalem)

We run an experiment that implements a finitely repeated version of the trust game in which players can choose in each period with whom to interact. Change in trust and trustworthiness in terms of previous experience is statistically investigated where confounding factors are controlled for. Motives such as reinforcement learning, reciprocity and rationality are useful to explain findings. Overall we find a high persistence of choice and uncover more trust and trustworthiness than in the one shot experiments. Towards the end of the game the degree of trust and trustworthiness decline.

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Paper provided by Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim in its series Sonderforschungsbereich 504 Publications with number 04-43.

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Length: 37 pages
Date of creation: 10 Mar 2004
Date of revision:
Handle: RePEc:xrs:sfbmaa:04-43
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, and from the Research Council of the EUI is gratefully acknowledged.
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  1. Ho, Teck Hua & Weigelt, Keith & Camerer, Colin, 1996. "Iterated Dominance and Iterated Best-Response in Experimental P-Beauty Contests," Working Papers 974, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. Edward L. Glaeser & David I. Laibson & José A. Scheinkman & Christine L. Soutter, 2000. "Measuring Trust," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 811-846.
    • Glaeser, Edward Ludwig & Laibson, David I. & Scheinkman, Jose A. & Soutter, Christine L., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.
  3. Chaim Fershtman & Uri Gneezy, 2001. "Discrimination in a Segmented Society: An Experimental Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 116(1), pages 351-377.
  4. Selten, Reinhard & Stoecker, Rolf, 1986. "End behavior in sequences of finite Prisoner's Dilemma supergames A learning theory approach," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 47-70, March.
  5. Tilman Slembeck, 2000. "Learning in Economics: Where Do We Stand?," Microeconomics 0004007, EconWPA.
  6. Duffy, John & Nagel, Rosemarie, 1997. "On the Robustness of Behaviour in Experimental "Beauty Contest" Games," Economic Journal, Royal Economic Society, vol. 107(445), pages 1684-1700, November.
  7. Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-81, September.
  8. Bornhorst, Fabian & Ichino, Andrea & Schlag, Karl & Winter, Eyal, 2004. "Trust and Trustworthiness Among Europeans: South-North Comparison," CEPR Discussion Papers 4378, C.E.P.R. Discussion Papers.
  9. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  10. Manski, Charles F., 2002. "Identification of decision rules in experiments on simple games of proposal and response," European Economic Review, Elsevier, vol. 46(4-5), pages 880-891, May.
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