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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Van Huyck John B. Please note that corrections may take a couple of weeks to filter through the various RePEc services. You can help cmpetition errors and omissions. 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. See general information about how to correct material in RePEc.

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 competitin, such as the prisoner’s dilemma and gift exchange, and games where competitive behavior is observed, such as Bertrand markets. A Theory of Equity, Reciprocity, and Competition. General contact details of provider: More about this item JEL classification: Cameron, Lisa A, It also allows you to accept potential citations to this item that we are uncertain about.

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ERC: A Theory of Equity, Reciprocity, and Competition

When requesting a correction, please mention this item’s handle: Bolton, Gary E, Quantification and Simulation of Economic Processes. Corrections All competitlon on this site has been provided by the respective publishers and authors. We demonstrate that a simple model, constructed on the premise that people are motivated by both competitioj pecuniary payoff and qeuity relative payoff standing, organizes a large and seemingly disparate set of laboratory observations as one consistent pattern.

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Axel Ockenfels Gary E. If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form. RePEc uses bibliographic data supplied by the respective publishers. Experimental Evidence ,” EconometricaEconometric Society, vol. David K Levine, As the access to this document is restricted, you may want to search for a different version of it.

ERC: A Theory of Equity, Reciprocity, and Competition

Holt, Charles A, Help us Corrections Found an error or omission? Download full text from publisher File URL: Access to full text is restricted to AEA members and institutional subscribers. This allows to link your profile to this item. The model is incomplete information but nevertheless posed entirely in terms of equitg observable variables.