Asymmetric volunteer's dilemma game: Theory and experiment

Toshiji Kawagoe, Hirokazu Takizawa and Tetsuo Yamamori

Games and Economic Behavior, 2023, vol. 142, issue C, 955-977

Abstract: This study explores asymmetric volunteer dilemma games in which players incur different costs for volunteering. Diekmann (1993) conjectures that a player with less cost is more likely to contribute at the equilibrium if it is risk dominant. We have re-examined this hypothesis theoretically and experimentally and found that even when focusing on risk-dominant equilibria, the explanatory power of the theory is not universal. An econometric comparison among several behavioral models including regret aversion shows that quantal response equilibrium best explains the data.

Keywords: Volunteer's dilemma; Risk dominance; Quantal response equilibrium; The depth of reasoning; Inequity aversion; Regret aversion; Experiment (search for similar items in EconPapers)
JEL-codes: C72 C92 D72 D74 H41 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:142:y:2023:i:c:p:955-977

DOI: 10.1016/j.geb.2023.10.009

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