-
作者：Blonski, Matthias; Ockenfels, Peter; Spagnolo, Giancarlo
作者单位：Goethe University Frankfurt; Goethe University Frankfurt; University of Rome Tor Vergata
摘要：We propose an axiomatic approach for equilibrium selection in the discounted, infinitely repeated symmetric Prisoner's Dilemma. Our axioms characterize a unique selection criterion that is also useful as a tool for applied comparative statics exercises as it results in a critical discount factor delta* strictly larger than (delta) under bar, the standard criterion that has often been used in applications. In an experimental test we find a strong predictive power of our proposed criterion. For ...
-
作者：Fudenberg, Drew; Levine, David K.
作者单位：Harvard University; Washington University (WUSTL)
摘要：We develop a dual-self model of self-control that is compatible with modern dynamic macroeconomic theory and evidence. We show that a convex cost of self-control explains a wide range of behavioral anomalies concerning risk, including the Allais paradox, and also explains the observed interaction between risk and delay. We calibrate the model to obtain a quantitative fit. We find that most of the data can be explained with subjective interest rates in the range of 1-7 percent, short-run relati...
-
作者：Kosfeld, Michael; Neckermann, Susanne
作者单位：Goethe University Frankfurt; University of Mannheim; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW)
摘要：We study the impact of status and social recognition on worker performance in a field experiment. In collaboration with an international non-governmental organization, we hired students to work on a database project. Students in the award treatment were offered a congratulatory card honoring the best performance. The award was purely symbolic to ensure that any behavioral effect is driven by non-material benefits. Our results show that the award increases performance by about 12 percent on ave...
