Arbeitspapier
Equilibrium Vengeance
This paper introduces two ideas, emotional state dependent utility components (ESDUCs), and evolutionary perfect Bayesian equilibrium (EPBE). Using a simple extensive form game, we illustrate the efficiency-enhancing role of a powerful ESDUC, the vengeance motive. Incorporating behavioral noise and observational noise leads to a range of (short run) Perfect Bayesian equilibria (PBE) involving both vengeful and non-vengeful types. We then derive two (long run) EPBE, one where both types survive and reap mutual gains, and a second where only the non-vengeful type survives and there are no mutual gains.
- Sprache
-
Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 766
- Klassifikation
-
Wirtschaft
Current Heterodox Approaches: Historical; Institutional; Evolutionary
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Altruism; Philanthropy; Intergenerational Transfers
Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
- Thema
-
negative reciprocity
perfect Bayesian equilibrium
evolutionary perfect Bayesian equilibrium
emotional state dependent utility
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Friedman, Daniel
Singh, Nirvikar
- Ereignis
-
Veröffentlichung
- (wer)
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Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Friedman, Daniel
- Singh, Nirvikar
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2002