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Taking turns

Greg Leo ()

Games and Economic Behavior, 2017, vol. 102, issue C, 525-547

Abstract: Two individuals face a regular task that requires the effort of only one. They take turns but sometimes arrange to swap obligations. These swaps account for their changing, private costs. While seemingly primitive, flexible turn-taking is surprisingly efficient, even relative to what can be achieved by mechanisms using monetary transfers. I model and experimentally evaluate a simple form of flexible turn-taking and then present a second form that is both consistent with patterns of subject behavior and approximately second-best in a benchmark case.

Keywords: Taking turns; Mechanism design; Ex post incentive compatibility; Repeated games (search for similar items in EconPapers)
JEL-codes: C72 C73 D82 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1016/j.geb.2017.02.003

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