Modeling sacrifice

Dooseok Jang and Jin-yeong Sohn

Journal of Economic Behavior & Organization, 2024, vol. 224, issue C, 323-337

Abstract: Recent evidence suggests that a person’s reciprocity toward others depends on the amount of sacrifice made by others. We develop a reciprocity model that incorporates the concept of sacrifice, defined as the payoff forgone when choosing an action. Our model retains many desirable properties of the existing reciprocity models, while capturing the nuanced psychology of reciprocity. In our model, one’s motivation to reciprocate increases in the size of others’ sacrifice. In two-person games, it can be shown that our model strengthens reciprocity motivation in reciprocity equilibria that are not Nash equilibria under selfish preferences.

Keywords: Sacrifice; Reciprocity; Psychological games; Social preferences (search for similar items in EconPapers)
JEL-codes: C70 D91 H40 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:224:y:2024:i:c:p:323-337

DOI: 10.1016/j.jebo.2024.06.006

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