Adversity is a school of wisdomː Experimental evidence on cooperative protection against stochastic losses
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-881, September.
- Gary S. Becker, 1974.
"Crime and Punishment: An Economic Approach,"
NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 1-54,
National Bureau of Economic Research, Inc.
- Gary S. Becker, 1968. "Crime and Punishment: An Economic Approach," Journal of Political Economy, University of Chicago Press, vol. 76(2), pages 169-169.
- Keser, Claudia & Montmarquette, Claude, 2008.
"Voluntary contributions to reduce expected public losses,"
Journal of Economic Behavior & Organization, Elsevier, vol. 66(3-4), pages 477-491, June.
- Claudia Keser & Claude Montmarquette, 2002. "Voluntary Contributions to Reduce Expected Public Losses," CIRANO Working Papers 2002s-60, CIRANO.
- Tim Lohse & Julio R. Robledo & Ulrich Schmidt, 2012.
"Self‐Insurance and Self‐Protection as Public Goods,"
Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 79(1), pages 57-76, March.
- Lohse, Tim & Julio R. Robledo & Ulrich Schmidt, 2006. "Self-Insurance and Self-Protection as Public Goods," Hannover Economic Papers (HEP) dp-354, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Lohse, Tim & Robledo, Julio & Schmidt, Ulrich, 2010. "Self-Insurance and Self-Protection as Public Goods," Kiel Working Papers 1613, Kiel Institute for the World Economy (IfW Kiel).
- Schmidt, Ulrich & Robledo, Julio R. & Lohse, Tim, 2007. "Self-Insurance and Self-Protection as Public Goods," Economics Working Papers 2007-16, Christian-Albrechts-University of Kiel, Department of Economics.
- Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
- Chmura, Thorsten & Goerg, Sebastian J. & Selten, Reinhard, 2012.
"Learning in experimental 2×2 games,"
Games and Economic Behavior, Elsevier, vol. 76(1), pages 44-73.
- Chmura, Thorsten & Goerg, Sebastian J. & Selten, Reinhard, 2008. "Learning in experimental 2×2 games," Bonn Econ Discussion Papers 18/2008, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Thorsten Chmura & Sebastian Goerg & Reinhard Selten, 2011. "Learning in experimental 2 x 2 games," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2011_26, Max Planck Institute for Research on Collective Goods.
- Dionne, Georges & Eeckhoudt, Louis, 1985.
"Self-insurance, self-protection and increased risk aversion,"
Economics Letters, Elsevier, vol. 17(1-2), pages 39-42.
- Dionne, G. & Eeckhoudt, L., 1984. "Self-Insurance, Self-Protection and Increased Risk Aversion," Cahiers de recherche 8424, Universite de Montreal, Departement de sciences economiques.
- DIONNE, George & EECKHOUDT, Louis, 1985. "Self-insurance, self-protection and increased risk aversion," LIDAM Reprints CORE 623, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Thomas J. Miceli & Kathleen Segerson, 2007.
"Punishing the Innocent along with the Guilty: The Economics of Individual versus Group Punishment,"
The Journal of Legal Studies, University of Chicago Press, vol. 36(1), pages 81-106, January.
- Thomas J. Miceli & Kathleen Segerson, 2004. "Punishing the Innocent along with the Guilty: The Economics of Individual versus Group Punishment," Working papers 2004-37, University of Connecticut, Department of Economics.
- Roth, Alvin E. & Erev, Ido, 1995. "Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term," Games and Economic Behavior, Elsevier, vol. 8(1), pages 164-212.
- Alexander Muermann & Howard Kunreuther, 2008. "Self-protection and insurance with interdependencies," Journal of Risk and Uncertainty, Springer, vol. 36(2), pages 103-123, April.
- Aoyagi, Masaki & Fréchette, Guillaume, 2009. "Collusion as public monitoring becomes noisy: Experimental evidence," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1135-1165, May.
- Tavoni, Alessandro & Dannenberg, Astrid & Kallis, Giorgos & Löschel, Andreas, 2011.
"Inequality, communication and the avoidance of disastrous climate change,"
LSE Research Online Documents on Economics
37570, London School of Economics and Political Science, LSE Library.
- Alessandro Tavoni & Astrid Dannenberg & Giorgos Kallis & Andreas L�schel, 2011. "Inequality, communication and the avoidance of disastrous climate change," GRI Working Papers 34, Grantham Research Institute on Climate Change and the Environment.
- Alessandro Tavoni & Astrid Dannenberg & Giorgos Kallis & Andreas Loeschel, 2011. "Inequality, Communication and the Avoidance of Disastrous Climate Change," CCEP Working Papers 1103, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
- Tavoni, Alessandro & Dannenberg, Astrid & Kallis, Giorgos & Loschel, Andreas, 2011. "Inequality, Communication and the Avoidance of Disastrous Climate Change," Working Papers 249389, Australian National University, Centre for Climate Economics & Policy.
- Segerson, Kathleen, 1988.
"Uncertainty and incentives for nonpoint pollution control,"
Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 87-98, March.
- Segerson, Kathleen, 1985. "Uncertainty And Incentives For Nonpoint Pollution Control," 1985 Annual Meeting, August 4-7, Ames, Iowa 278615, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Colin Camerer & Teck-Hua Ho, 1999. "Experience-weighted Attraction Learning in Normal Form Games," Econometrica, Econometric Society, vol. 67(4), pages 827-874, July.
- Reinhard Selten & Thorsten Chmura, 2008.
"Stationary Concepts for Experimental 2x2-Games,"
American Economic Review, American Economic Association, vol. 98(3), pages 938-966, June.
- Selten, Reinhard & Chmura, Thorsten, 2005. "Stationary Concepts for Experimental 2x2 Games," Bonn Econ Discussion Papers 33/2005, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Ehrlich, Isaac & Becker, Gary S, 1972. "Market Insurance, Self-Insurance, and Self-Protection," Journal of Political Economy, University of Chicago Press, vol. 80(4), pages 623-648, July-Aug..
- Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
- Beggs, A.W., 2005.
"On the convergence of reinforcement learning,"
Journal of Economic Theory, Elsevier, vol. 122(1), pages 1-36, May.
- Alan Beggs, 2002. "On the Convergence of Reinforcement Learning," Economics Series Working Papers 96, University of Oxford, Department of Economics.
- Dickinson, David L., 1998. "The voluntary contributions mechanism with uncertain group payoffs," Journal of Economic Behavior & Organization, Elsevier, vol. 35(4), pages 517-533, May.
- Yoella Bereby-Meyer & Alvin E. Roth, 2006.
"The Speed of Learning in Noisy Games: Partial Reinforcement and the Sustainability of Cooperation,"
American Economic Review, American Economic Association, vol. 96(4), pages 1029-1042, September.
- Roth, Alvin & Bereby-Meyer, Yoella, 2006. "The Speed of Learning in Noisy Games: Partial Reinforcement and the Sustainability of Cooperation," Scholarly Articles 2580381, Harvard University Department of Economics.
- Lana Friesen, 2012. "Certainty of Punishment versus Severity of Punishment: An Experimental Investigation," Southern Economic Journal, John Wiley & Sons, vol. 79(2), pages 399-421, October.
- Zeelenberg, M., 1999. "Anticipated regret, expected feedback and behavioral decision-making," Other publications TiSEM 38371d1b-31fd-45b0-860f-b, Tilburg University, School of Economics and Management.
- Catherine C. Eckel & Philip J. Grossman, 2008. "Forecasting Risk Attitudes: An Experimental Study Using Actual and Forecast Gamble Choices," Monash Economics Working Papers archive-01, Monash University, Department of Economics.
- Bock, Olaf & Baetge, Ingmar & Nicklisch, Andreas, 2014. "hroot: Hamburg Registration and Organization Online Tool," European Economic Review, Elsevier, vol. 71(C), pages 117-120.
- Gollier, Christian & Pratt, John W, 1996. "Risk Vulnerability and the Tempering Effect of Background Risk," Econometrica, Econometric Society, vol. 64(5), pages 1109-1123, September.
- Emel Filiz-Ozbay & Erkut Y. Ozbay, 2007. "Auctions with Anticipated Regret: Theory and Experiment," American Economic Review, American Economic Association, vol. 97(4), pages 1407-1418, September.
- Manuel Arellano & Stephen Bond, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Lana Friesen, 2012.
"Certainty of Punishment versus Severity of Punishment: An Experimental Investigation,"
Southern Economic Journal, John Wiley & Sons, vol. 79(2), pages 399-421, October.
- Lana Friesen, 2009. "Certainty of Punishment versus Severity of Punishment- An Experimental Investigation," Discussion Papers Series 400, School of Economics, University of Queensland, Australia.
- Chetan Dave & Catherine Eckel & Cathleen Johnson & Christian Rojas, 2010. "Eliciting risk preferences: When is simple better?," Journal of Risk and Uncertainty, Springer, vol. 41(3), pages 219-243, December.
- Toshihiro Ihori & Martin McGuire, 2010. "National self-insurance and self-protection against adversity: bureaucratic management of security and moral hazard," Economics of Governance, Springer, vol. 11(2), pages 103-122, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Nicklisch, Andreas & Köke, Sonja & Lange, Andreas, 2016. "Is Adversity a School of Wisdom? Experimental Evidence on Cooperative Protection Against Stochastic Losses," VfS Annual Conference 2016 (Augsburg): Demographic Change 145716, Verein für Socialpolitik / German Economic Association.
- Ding, Jieyao & Nicklisch, Andreas, 2013. "On the impulse in impulse learning," Economics Letters, Elsevier, vol. 121(2), pages 294-297.
- Masiliūnas, Aidas, 2023. "Learning in rent-seeking contests with payoff risk and foregone payoff information," Games and Economic Behavior, Elsevier, vol. 140(C), pages 50-72.
- Jieyao Ding & Andreas Nicklisch, 2013. "On the Impulse in Impulse Learning," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2013_02, Max Planck Institute for Research on Collective Goods.
- Sebastian J. Goerg & Tibor Neugebauer & Abdolkarim Sadrieh, 2016.
"Impulse Response Dynamics in Weakest Link Games,"
German Economic Review, Verein für Socialpolitik, vol. 17(3), pages 284-297, August.
- Goerg Sebastian J. & Sadrieh Abdolkarim & Neugebauer Tibor, 2016. "Impulse Response Dynamics in Weakest Link Games," German Economic Review, De Gruyter, vol. 17(3), pages 284-297, August.
- Arnaud Reynaud & Cécile Aubert, 2020.
"Does flood experience modify risk preferences? Evidence from an artefactual field experiment in Vietnam,"
The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 45(1), pages 36-74, March.
- Arnaud Reynaud & Cécile Aubert, 2020. "Does flood experience modify risk preferences? Evidence from an artefactual field experiment in Vietnam," Post-Print hal-03050685, HAL.
- Biener, Christian & Eling, Martin & Landmann, Andreas & Pradhan, Shailee, 2018.
"Can group incentives alleviate moral hazard? The role of pro-social preferences,"
European Economic Review, Elsevier, vol. 101(C), pages 230-249.
- Biener, Christian & Eling, Martin & Pradhan, Shailee, 2016. "Can Group Incentives Alleviate Moral Hazard? The Role of Pro-Social Preferences," Working Papers on Finance 1610, University of St. Gallen, School of Finance, revised Nov 2016.
- Chmura, Thorsten & Goerg, Sebastian J. & Selten, Reinhard, 2012.
"Learning in experimental 2×2 games,"
Games and Economic Behavior, Elsevier, vol. 76(1), pages 44-73.
- Chmura, Thorsten & Goerg, Sebastian J. & Selten, Reinhard, 2008. "Learning in experimental 2×2 games," Bonn Econ Discussion Papers 18/2008, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Thorsten Chmura & Sebastian Goerg & Reinhard Selten, 2011. "Learning in experimental 2 x 2 games," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2011_26, Max Planck Institute for Research on Collective Goods.
- Shafran, Aric P., 2012. "Learning in games with risky payoffs," Games and Economic Behavior, Elsevier, vol. 75(1), pages 354-371.
- García-Pola, Bernardo, 2020. "Do people minimize regret in strategic situations? A level-k comparison," Games and Economic Behavior, Elsevier, vol. 124(C), pages 82-104.
- Erik Mohlin & Robert Ostling & Joseph Tao-yi Wang, 2014. "Learning by Imitation in Games: Theory, Field, and Laboratory," Economics Series Working Papers 734, University of Oxford, Department of Economics.
- Heggedal, Tom-Reiel & Helland, Leif, 2014. "Platform selection in the lab," Journal of Economic Behavior & Organization, Elsevier, vol. 99(C), pages 168-177.
- Freundt, Jana & Lange, Andreas, 2021. "On the voluntary provision of public goods under risk," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 93(C).
- Erhao Xie, 2019. "Monetary Payoff and Utility Function in Adaptive Learning Models," Staff Working Papers 19-50, Bank of Canada.
- Sugden, Robert & Wang, Mengjie & Zizzo, Daniel John, 2019.
"Take it or leave it: Experimental evidence on the effect of time-limited offers on consumer behaviour,"
Journal of Economic Behavior & Organization, Elsevier, vol. 168(C), pages 1-23.
- Robert Sugden & Mengjie Wang & Daniel John Zizzo, 2015. "Take it or leave it: Experimental evidence on the effect of time-limited offers on consumer behaviour," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 15-19, School of Economics, University of East Anglia, Norwich, UK..
- Marco LiCalzi & Roland Mühlenbernd, 2022. "Feature-weighted categorized play across symmetric games," Experimental Economics, Springer;Economic Science Association, vol. 25(3), pages 1052-1078, June.
- Mohlin, Erik & Östling, Robert & Wang, Joseph Tao-yi, 2020. "Learning by similarity-weighted imitation in winner-takes-all games," Games and Economic Behavior, Elsevier, vol. 120(C), pages 225-245.
- Francisco Gomes & Michael Haliassos & Tarun Ramadorai, 2021.
"Household Finance,"
Journal of Economic Literature, American Economic Association, vol. 59(3), pages 919-1000, September.
- Haliassos, Michael & Gomes, Francisco, 2020. "Household Finance," CEPR Discussion Papers 14502, C.E.P.R. Discussion Papers.
- Gomes, Francisco J. & Haliassos, Michael & Ramadorai, Tarun, 2020. "Household finance," IMFS Working Paper Series 138, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Michele Fioretti & Alexander Vostroknutov & Giorgio Coricelli, 2022.
"Dynamic Regret Avoidance,"
American Economic Journal: Microeconomics, American Economic Association, vol. 14(1), pages 70-93, February.
- Michele Fioretti & Alexander Vostroknutov & Giorgio Coricelli, 2022. "Dynamic Regret Avoidance," SciencePo Working papers Main hal-03562318, HAL.
- Michele Fioretti & Alexander Vostroknutov & Giorgio Coricelli, 2022. "Dynamic Regret Avoidance," Post-Print hal-03562318, HAL.
- Funai, Naoki, 2022. "Reinforcement learning with foregone payoff information in normal form games," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 638-660.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:uhhwps:22. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
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. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/fwhamde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.