Article2016

When is the Risk of Cooperation Worth Taking? The Prisoner's Dilemma as a Game of Multiple Motives

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Experimental Behavioral Economics Studies Decision-Making and Behavioral Economics Evolutionary Game Theory and Cooperation

Abstract

This experimental article helps to understand the motives behind cooperation in the prisoner’s dilemma. It manipulates the pay-off in case both players defect in a two-player, one-shot prisoner’s dilemma and explains the degree of cooperation by a combination of four motives: efficiency, conditional cooperation, fear and greed. All motives are significant but some become only significant if one controls for all remaining ones. This seems to be the reason why earlier attempts at explaining choices in the prisoner’s dilemma with personality have not been successful.

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References

1992Governing the Commons: The Evolution of Institutions for Collective Action 1999A Theory of Fairness, Competition, and Cooperation 2007z-Tree: Zurich toolbox for ready-made economic experiments 2002Risk Aversion and Incentive Effects 2004The wisdom of crowds: why the many are smarter than the few and how collective wisdom shapes business, economies, societies and nations 1996The Theory of Externalities, Public Goods, and Club Goods 1982Rational cooperation in the finitely repeated prisoners' dilemma 2015Subject pool recruitment procedures: organizing experiments with ORSEE

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