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Participants in a public goods experiment receive private or common signals regarding the so-called "point of no return", meaning that if the group's total contribution falls below this point, all payoffs are reduced. An individual faces the usual conflict between private and collective...
Persistent link: https://www.econbiz.de/10009388213
We compare, on the basis of a procedurally fair "provision point" mechanism, bids for a public project from which some gain and some lose with bids for a less efficient public project from which all gain. In the main treatment, participants independently decide which one, if any, of the public...
Persistent link: https://www.econbiz.de/10009238609