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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David K Levine, The theoy 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.

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

Download full text from publisher File URL: General contact details of provider: Axel Ockenfels Gary E. 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

A Theory of Equity, Reciprocity, and Competition. Experimental Evidence ,” EconometricaEconometric Society, vol. Bolton, Gary E, Help us Corrections Found an error or omission?