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161.
Punishment,counterpunishment and sanction enforcement in a social dilemma experiment 总被引:1,自引:0,他引:1
We present the results of an experiment that explores the sanctioning behavior of individuals who experience a social dilemma.
In the game we study, players choose contribution levels to a public good and subsequently have multiple opportunities to
reduce the earnings of the other members of the group. The treatments vary in terms of individuals’ opportunities to (a) avenge
sanctions that have been directed toward themselves, and (b) punish others’ sanctioning behavior with respect to third parties.
We find that individuals do avenge sanctions they have received, and this serves to decrease contribution levels. They also
punish those who fail to sanction third parties, but the resulting increase in contributions is smaller than the decrease
the avenging of sanctions induces. When there are five rounds of unrestricted sanctioning, contributions and welfare are significantly
lower than when only one round of sanctioning opportunities exists, and welfare is lower than at a benchmark of zero cooperation.
We thank James Andreoni, participants in seminars at Emory University, the University of Wisconsin-Madison, the University
of New South Wales, the University of Sydney, Deakin University, the 2004 North American Regional Meetings of the ESA in Tucson,
Arizona, USA, the 2004 IMEBE Meetings in Cordoba, Spain, and the 2005 SAET meetings in Vigo, Spain, for constructive and helpful
comments. We thank Elven Priour for programming and organization of the sessions. Instructions for the experiment are available
from the authors. 相似文献
162.
163.
JohnA.Caslione DavidK.Tse 《新经济》2003,(7):76-78
我们正看到一种趋势初露端倪.这种趋势将很快成为下个10年里中国商业战略的"主流".更多的有战略头脑的中国公司开始在全世界展开直接的兼并业务,尤其是在美国. 相似文献
164.
This article presents a macroeconomic model in which government deficits are bond financed and the stock of bonds may affect both expected income and liquidity. If either of these effects exists, then comparative statics analysis requires the government budget to be balanced. Temporary divergences from a balanced budget and changes in the maturity structure of the government debt may be analyzed in terms of changes in the stock of bonds. It is shown that traditional fiscal and monetary policies may have a perverse effect; that to ensure effective policy, deficit financing and open market operations should be avoided; and that only policies involving a balanced budget or the financing of deficits or surpluses through changes in the stock of money should be undertaken. 相似文献
165.
We examine the determinants of the choice between rate-of-return regulation and incentive regulation in the United States telecommunications industry. We find that a state is more likely to select incentive regulation in any year: (1) when it has employed incentive regulation in the past; (2) when the Republican party controls both the executive and the legislative branches of the state government, but the Democratic party has controlled these branches historically; and (3) as the firms earnings under rate-of-return regulation increase toward the industry average. We also find that appointed regulators are more likely than their elected counterparts to revert to rate-of-return regulation. 相似文献
166.
David Gordon 《The Review of Austrian Economics》1994,7(1):95-106
This paper was prepared for consideration for a Ludwig von Mises prize that was awared at the Mises Institute's 10th anniversary conference, October 9–11, 1992. I am grateful to Pat Heckman and Ralph Raico for their very helpful suggestions. 相似文献
167.
Summary. We exploit the existence of matrix group symmetries on a production possibility set to identify group symmetries on the profit function. The groups are isomorphic, and provide a pre-ordering on firm preferences over prices. Together with additional structure on the technology, symmetries generate comparative statics on price responses. Linear and other invariances place bounds on firm choice vectors. Reflection group asymmetries on the feasible choice set also support welfare rankings over prices. The methods are adapted to study consumer decisions.Received: 12 August 2002, Revised: 30 January 2004, JEL Classification Numbers:
D11, D21, C60, L23.
Correspondence to: David A. Hennessy 相似文献
168.
Hitting the Jackpot or Hitting the Skids: Entertainment, Poverty, and the Demand for State Lotteries
Garrick Blalock David R. Just Daniel H. Simon 《American journal of economics and sociology》2007,66(3):545-570
A bstract . State-sponsored lotteries are a lucrative source of revenue. Despite their low payout rates, lotteries are extremely popular, particularly among low-income citizens. State officials laud the benefits of lottery proceeds and promote the fun and excitement of participation. This entertainment value is one explanation for lottery demand by the poor: individuals with lower incomes substitute lottery play for other entertainment. Alternatively, low-income consumers may view lotteries as a convenient and otherwise rare opportunity for radically improving their standard of living. Bad times may cause desperation, and the desperate may turn to lotteries in an effort to escape hardship. This study tests these competing explanations. We examine lottery sales data from 39 states over 10 years and find a strong and positive relationship between sales and poverty rates. In contrast, we find no relationship between movie ticket sales, another inexpensive form of entertainment, and poverty rates. 相似文献
169.
Scientists have argued that invasive species can be managed most cost effectively with greater investments in prevention. Further, under ideas like the precautionary principle it is reasonable to expect that a cautious manager would use more prevention relative to control because it keeps more invaders out. Yet, this is not typically done. In many cases, private and public resources are invested primarily to control existing invaders rather than to prevent new invasions. Managers frequently wait until after invaders have arrived and then scramble to limit the damages. We believe these paradoxical decisions can be understood by recognizing the link between typical human preferences for risk bearing and the technology of risk reduction. We demonstrate quantitatively how managers perceived to be cautious or averse to risk tend to shy away from prevention relative to control. This counterintuitive result arises because control is a safer choice than prevention because its productivity is relatively less risky: it works to remove existing invaders from the system. In contrast, the productivity of prevention is more uncertain because prevention only reduces the chance of invasion, it does not eliminate it, and invasion may not occur even in the absence of prevention. Managers' averse to risk will inherently avoid as much uncertainty as possible, whether the source of uncertainty regards ecological outcomes or economic productivity. Implications for environmental decision making are clear. In invasive species management, if managers act as though they are risk averse, their caution can backfire when it leads to more control rather than prevention. The social consequences of this choice are a greater probability of future invasions and lower social welfare. Our results suggest that social welfare is highest when managers were willing to “take a risk” with prevention. 相似文献
170.
Dividends seem to be more heavily taxed than capital gains. Why then do corporations pay dividends rather than repurchasing shares or retaining earnings? Either corporations are not acting in the interests of shareholders, or else shareholders desire dividends sufficiently for nontax reasons to offset the tax effect.In this paper, we measure the relative valuation of dividends and capital gains in the stock market, using a variant of the capital asset pricing model. We find that dividends are not valued differently systematically from capital gains. This finding is consistent with share price maximization by firms but inconsistent with the fact that most shareholderspay a heavier tax on dividends.We also show that the relative value of dividends provides an indirect measure of a marginal Tobin's q. The measured value of dividends relative to capital gains tends to be higher during prosperous periods, as is consistent with this interpretation. We hope that this time series on a marginal Tobin's q will prove to be useful in forecasting the rate of investment. 相似文献