This paper explores the private and social benefits from barter exchange in a monetized economy. We first prove a no …-monetary exchange avoids this limitation and enhances trade by (1) generating liquidity and (2) by segmenting the market place into low …-demand and high-demand customers in a manner which is impossible with pure monetary exchange. We provide comparative statics …

general reciprocity where the counter obligation is expected but not certain and balanced reciprocity where there is a firm …

wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money …

We study the relation between formal incentives and social exchange in organizations where employees work for several … result in too much social exchange, the attention race may also be a blessing because it alleviates managers’ moral …

experimentally investigate the relationship between intrinsic and instrumental reciprocity by running a two-period repeated trust … do not know and hence the second period comes as a surprise. We find that subjects anticipate instrumental reciprocity …, and that intrinsic reciprocity is rewarded. In fact, the total level of cooperation, in which trust is reciprocated, is …

about personality traits of employees, in particular whether these employees are inclined towards reciprocity. Using the … the presence of gift-exchange motives: firms that screen applicants for personality are more likely to pay generous wages … applicant and employer. Hence, we conclude that motivation based on gift-exchange motives remains as the most plausible …

Unfair intentions provoke negative reciprocity from others, making their concealment potentially beneficial. This paper …