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that avoid these costs and whether other, more centralized, punishment systems are superior and will be preferred by the … people. Here, we show that efficient peer sanctioning without much need for costly punishment emerges quickly if we introduce … social norm of high cooperation. This norm appears to guide subjects' cooperation and punishment choices, including the …
Persistent link: https://www.econbiz.de/10011760106
that avoid these costs and whether other, more centralized, punishment systems are superior and will be preferred by the … people. Here, we show that efficient peer sanctioning without much need for costly punishment emerges quickly if we introduce … social norm of high cooperation. This norm appears to guide subjects’ cooperation and punishment choices, including the …
Persistent link: https://www.econbiz.de/10011741750
systems exist that avoid these costs and whether other, more centralized, punishment systems are superior and will be … preferred by the people. Here, we show that welfare-enhancing peer sanctioning without much need for costly punishment emerges …. The exogenous removal of the norm consensus opportunity reduces the efficiency of peer punishment and renders centralized …
Persistent link: https://www.econbiz.de/10011825357
preferred by the people. Here, we show that welfare-enhancing peer sanctioning without much need for costly punishment emerges …. The exogenous removal of the norm consensus opportunity reduces the efficiency of peer punishment and renders centralized … peer sanctioning with a norm consensus opportunity or an equally efficient institution with centralized punishment by an …
Persistent link: https://www.econbiz.de/10011844819
Persistent link: https://www.econbiz.de/10003186004
theories of fairness and reciprocity capture these forces. We find that cooperators' punishment is almost exclusively targeted … towards the defectors but the latter also impose a considerable amount of spiteful punishment on the cooperators. However …, spiteful punishment vanishes if the punishers can no longer affect the payoff differences between themselves and the punished …
Persistent link: https://www.econbiz.de/10003031484
Persistent link: https://www.econbiz.de/10011974649
The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the basis of the prevailing field data it is difficult to pin down their causal impact. Here we show experimentally that relational incentives are a powerful causal determinant for...
Persistent link: https://www.econbiz.de/10003884085
The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the basis of the prevailing field data it is difficult to pin down their causal impact. Here we show experimentally that relational incentives are a powerful causal determinant for...
Persistent link: https://www.econbiz.de/10013157034
Under weak contract enforcement the trading parties’ trust, defined as their belief in other’s trustworthiness, appears important for realizing gains from trade. In contrast, under strong contract enforcement beliefs about other’s trustworthiness appear less important, suggesting that...
Persistent link: https://www.econbiz.de/10013250528