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http://hdl.handle.net/10419/35995
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| Title: | | Preferences and beliefs in a sequential social dilemma: a within-subjects analysis  |
| Authors: | | Blanco, Mariana Engelmann, Dirk Koch, Alexander K. Normann, Hans-Theo |
| Issue Date: | | 2009 |
| Series/Report no.: | | IZA Discussion Papers 4624 |
| Abstract: | | Within-subject data from sequential social dilemma experiments reveal a correlation of first-and second-mover decisions for which two channels may be responsible, that our experiment allows to separate: i) a direct, preference-based channel that influences both first- and second-mover decisions; ii) an indirect channel, where second-mover decisions influence beliefs via a consensus effect, and the first-mover decision is a best response to these beliefs. We find strong evidence for the indirect channel: beliefs about second-mover cooperation are biased toward own second-mover behavior, and most subjects best respond to stated beliefs. But when first movers know the true probability of second-mover cooperation, subjects' own second moves still have predictive power regarding their first moves, suggesting that the direct channel also plays a role. |
| Subjects: | | Experimental economics consensus effect social dilemmas |
| JEL: | | C72 C90 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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