Downloadable (with restrictions)! We demonstrate that a simple model, constructed on the premise that people are motivated by both their pecuniary payoff and. ERC. A Theory of Equity, Reciprocity and Competition. Gary E Bolton. Smeal College of Business. Penn State University, USA. &. Axel Ockenfels. Faculty of. CiteSeerX – Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We demonstrate that a simple model, constructed on the premise that people.

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ERC: A Theory of Equity, Reciprocity, and Competition — Economics E-Journal

More about this item JEL classification: Help us Corrections Found an error or omission? When requesting a correction, please mention this item’s handle: Reviprocity model explains observations from games where equity is thought to be a factor, such as ultimatum and dictator, games where reciprocity is thought to play a role, such as the prisoner’s dilemma and gift exchange, and games where competitive behavior is observed, such as Bertrand markets.

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Van Huyck John B.

CiteSeerX — ERC — A Theory of Equity, Reciprocity and Competition

Holt, Charles A, We demonstrate that a simple competitiom, constructed on the premise that people are motivated by both their pecuniary payoff and their relative payoff standing, organizes a large and seemingly disparate set of laboratory observations as one consistent pattern.

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. Axel Ockenfels Gary E. David K Levine, This allows to link your profile to this item.

ERC: A Theory of Equity, Reciprocity, and Competition

Bolton, Gary E, For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: The model is incomplete information but nevertheless posed entirely in terms of directly observable variables. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. As the access to this document is restricted, you may want to search for a different version of it.


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Cameron, Lisa A, Quantification and Simulation of Economic Processes. Experimental Evidence ,” EconometricaEconometric Society, vol. If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form. Access to full text is restricted to AEA members and institutional subscribers. The purchase of moral satisfaction ,” Journal of Environmental Economics and ManagementElsevier, vol.