English, Article, Journal or magazine article edition: Voluntary Cooperation Based on Equilibrium Retribution - An Experiment Testing Finite-Horizon Folk Theorems Lisa V. Bruttel; Werner Güth; Ulrich Kamecke; ...

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Bookmark: http://trove.nla.gov.au/version/515
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Voluntary Cooperation Based on Equilibrium Retribution - An Experiment Testing Finite-Horizon Folk Theorems
Author
  • Lisa V. Bruttel
  • Werner Güth
  • Ulrich Kamecke
  • Vera Popova
Physical Description
  • preprint
Notes
  • Unlike previous attempts to implement cooperation in a prisoners' dilemma game with an infinite horizon in the laboratory, we focus on extended prisoners' dilemma games in which a second (pure strategy) equilibrium allows for voluntary cooperation in all but the last round. Our four main experimental treatments distinguish long versus short horizon and strict versus non-strict additional equilibrium compared to the control treatment, a standard prisoners' dilemma. Quite surprisingly, according to our results, only a strict additional equilibrium increases cooperation rate for a given time horizon. As expected a longer time horizon promotes cooperation.
  • Folk theorem, Finite horizon, Prisoners' dilemma, Experiment
  • RePEc:jrp:jrpwrp:2009-030
Language
  • English
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