ERC A THEORY OF EQUITY RECIPROCITY AND COMPETITION PDF

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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The 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. Quantification and Simulation of Economic Processes. Corrections All material on this site has been provided by the respective publishers and authors.

The model is incomplete information but nevertheless posed entirely in terms of directly observable variables. A Theory of Equity, Reciprocity, and Competition.

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

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Bolton, Gary E, Experimental Evidence ,” EconometricaEconometric Society, vol. Access to full text is restricted to AEA members and institutional subscribers.

See general information about how to correct material in RePEc. We demonstrate that a simple model, 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.

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

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ERC: A Theory of Equity, Reciprocity, and Competition

This allows to link your profile to this item. Holt, Charles A, For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Axel Ockenfels Gary E. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. When requesting a correction, please mention this item’s handle: