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Cooperation in indefinitely repeated helping games: Existence and characterization

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  • Camera, Gabriele
  • Gioffré, Alessandro

Abstract

Experiments that investigate the spontaneous emergence of money in laboratory societies rely on indefinitely repeated helping games with random matching (Camera et al., 2013; Camera and Casari, 2014). An important open issue is the lack of a general proof of existence of an equilibrium capable of supporting the efficient allocation under private monitoring, without money. Here, we fill this gap by offering a general proof, as well as by characterizing the efficient non-monetary equilibrium. This technique can be extended to study games with simultaneous actions.

Suggested Citation

  • Camera, Gabriele & Gioffré, Alessandro, 2022. "Cooperation in indefinitely repeated helping games: Existence and characterization," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1344-1356.
    • Handle: RePEc:eee:jeborg:v:200:y:2022:i:c:p:1344-1356
    DOI: 10.1016/j.jebo.2019.11.014
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    References listed on IDEAS

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    1. Camera, Gabriele & Casari, Marco & Bigoni, Maria, 2012. "Cooperative strategies in anonymous economies: An experiment," Games and Economic Behavior, Elsevier, vol. 75(2), pages 570-586.
    2. Gabriele Camera & Alessandro Gioffré, 2018. "Beyond Grim: Punishment Norms in the Theory of Cooperation," Working Papers - Economics wp2018_12.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    3. Camera, Gabriele & Gioffré, Alessandro, 2014. "A tractable analysis of contagious equilibria," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 290-300.
    4. Gabriele Camera & Marco Casari, 2009. "Cooperation among Strangers under the Shadow of the Future," American Economic Review, American Economic Association, vol. 99(3), pages 979-1005, June.
    5. Glenn Ellison, 1994. "Cooperation in the Prisoner's Dilemma with Anonymous Random Matching," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(3), pages 567-588.
    6. Gabriele Camera & Marco Casari, 2014. "The Coordination Value of Monetary Exchange: Experimental Evidence," American Economic Journal: Microeconomics, American Economic Association, vol. 6(1), pages 290-314, February.
    7. Maria Bigoni & Gabriele Camera & Marco Casari, 2019. "Partners or Strangers? Cooperation, Monetary Trade, and the Choice of Scale of Interaction," American Economic Journal: Microeconomics, American Economic Association, vol. 11(2), pages 195-227, May.
    8. Duffy, John & Ochs, Jack, 2009. "Cooperative behavior and the frequency of social interaction," Games and Economic Behavior, Elsevier, vol. 66(2), pages 785-812, July.
    9. Michihiro Kandori, 1992. "Social Norms and Community Enforcement," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(1), pages 63-80.
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    More about this item

    Keywords

    Tacit coordination; Random matching; Social norms;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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