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Cooperation and turn taking in finitely-repeated prisoners' dilemmas: An experimental analysis

Citation

Sibly, H and Tisdell, J, Cooperation and turn taking in finitely-repeated prisoners' dilemmas: An experimental analysis, The Journal of Economic Psychology pp. 1-22. ISSN 0167-4870 (In Press) [Refereed Article]


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DOI: doi:10.1016/j.joep.2017.11.003

Abstract

In the standard prisoners' dilemma (SPD) cooperation is efficient. In the repeated, modified prisoners' dilemma (MPD) turn taking is efficient. It might be expected that the cooperative preferences exhibited by some agents, which gives rise to cooperation in the finitely repeated SPD, also give rise to turn taking in the finitely repeated MPD. We consider this question theoretically and experimentally. We find experimentally that 50% of participant pairs undertake turn-taking in the finitely repeated MPD. Turn taking continues to the final round for 37.5% of participant pairs, indicating that at least 18% of participant pairs exhibit cooperative preferences. Further, the prevalence of turn taking in the MPD is less than cooperation in the SPD, a finding that is consistent with theoretical predictions.

Item Details

Item Type:Refereed Article
Keywords:cooperation, Finitely-Repeated Prisoners' Dilemma, turn-taking, laboratory experiment
Research Division:Economics
Research Group:Applied Economics
Research Field:Experimental Economics
Objective Division:Economic Framework
Objective Group:Other Economic Framework
Objective Field:Economic Framework not elsewhere classified
Author:Sibly, H (Dr Hugh Sibly)
Author:Tisdell, J (Professor John Tisdell)
ID Code:122783
Year Published:In Press
Deposited By:Economics and Finance
Deposited On:2017-11-28
Last Modified:2017-11-28
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