Preference for Efficiency or Confusion? A Note on a Boundedly Rational Equilibrium Approach to Individual Contributions in a Public Good Game
Joint Authors
Corazzini, Luca
Tyszler, Marcelo
Source
Journal of Applied Mathematics
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-8, 8 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-09-01
Country of Publication
Egypt
No. of Pages
8
Main Subjects
Abstract EN
By using data from a voluntary contribution mechanism experiment with heterogeneous endowments and asymmetric information, we estimate a quantal response equilibrium (QRE) model to assess the relative importance of efficiency concerns versus noise in accounting for subjects overcontribution in public good games.
In the benchmark specification, homogeneous agents, overcontribution is mainly explainedby error and noise in behavior.
Results change when we consider a more general QRE specification with cross-subject heterogeneity in concerns for (group) efficiency.
In this case, we find that the majority of the subjects make contributions that are compatible with the hypothesis of preference for (group) efficiency.
A likelihood-ratio test confirms the superiority of the more general specification of the QRE model over alternative specifications.
American Psychological Association (APA)
Corazzini, Luca& Tyszler, Marcelo. 2015. Preference for Efficiency or Confusion? A Note on a Boundedly Rational Equilibrium Approach to Individual Contributions in a Public Good Game. Journal of Applied Mathematics،Vol. 2015, no. 2015, pp.1-8.
https://search.emarefa.net/detail/BIM-1067161
Modern Language Association (MLA)
Corazzini, Luca& Tyszler, Marcelo. Preference for Efficiency or Confusion? A Note on a Boundedly Rational Equilibrium Approach to Individual Contributions in a Public Good Game. Journal of Applied Mathematics No. 2015 (2015), pp.1-8.
https://search.emarefa.net/detail/BIM-1067161
American Medical Association (AMA)
Corazzini, Luca& Tyszler, Marcelo. Preference for Efficiency or Confusion? A Note on a Boundedly Rational Equilibrium Approach to Individual Contributions in a Public Good Game. Journal of Applied Mathematics. 2015. Vol. 2015, no. 2015, pp.1-8.
https://search.emarefa.net/detail/BIM-1067161
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1067161