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Healy, Paul J. 2007. "Group Reputations, Stereotypes, and Cooperation in a Repeated Labor Market."
,
97(5): 1751-1773.
Show Article Details
DOI: 10.1257/aer.97.5.1751
Abstract:Reputation effects and other-regarding preferences have both been used to predict
cooperative outcomes in markets with inefficient equilibria. Existing reputation-building
models require either infinite time horizons or publicly observed identities,
but cooperative outcomes have been observed in several moral hazard experiments
with finite horizons and anonymous interactions. This paper introduces a
full reputation equilibrium (FRE) with stereotyping (perceived type correlation) in
which cooperation is predicted in early periods of a finitely repeated market with
anonymous interactions. New experiments generate results in line with the FRE
prediction, including final-period reversions to stage-game equilibrium and noncooperative
play under unfavorable payoff parameters. (JEL C72, C73, C78, J41)
Additional links:
Download Data Set |
Link to Appendix
Authors:
Healy, Paul J. (The Ohio State University)
JEL Classifications:
C72: Noncooperative Games
C73: Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
C78: Bargaining Theory; Matching Theory
J41: Labor Contracts
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