Discrete public goods: Contribution levels and learning as outcomes of an evolutionary game

Arbeitspapier

This paper examines the learning dynamics of boundedly rational agents, who are asked to voluntarily contribute to a discrete public good. In an incomplete information setting, we discuss contribution games and subscription games, the latter including a money-back guarantee in case of provision failure. The theoretical results on myopic best response dynamics implying striking differences between strategies played in the two games are confirmed by simulations, where the learning process is modeled by an Evolutionary Algorithm. We show that the contribution game even aggravates the selective pressure leading towards the non-contributing equilibrium, thereby supporting results from laboratory experiments. In contrast to this, the subscription game removes the 'fear incentive', implying a higher percentage of successful provisions over time.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Diskussionsbeitrag ; No. 263

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Stochastic and Dynamic Games; Evolutionary Games; Repeated Games ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness ; Public Goods
• Thema: bounded rationality ; evolutionary games ; evolutionary algorithm ; learning ; public goods ; Öffentliches Gut ; Gebühr ; Lernprozess ; Beschränkte Rationalität ; Theorie ; Evolutionäre Spieltheorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Clemens, Christiane ; Riechmann, Thomas
• Ereignis: Veröffentlichung
• (wer): Universität Hannover, Wirtschaftswissenschaftliche Fakultät
• (wo): Hannover
• (wann): 2002

Weitere Informationen

• Handle: http://hdl.handle.net/10419/78360
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ