Mutual choice of partner and communication in a repeated prisoner's dilemma
Sigve Tjøtta () and
Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2018, vol. 75, issue C, 12-23
Many markets resemble repeated prisoner's dilemma situations with the possibilities for mutual partner choice. In this paper, we show experimentally that partner choice by mutual consent has a strong positive effect on cooperation. Mutual partner choice makes it possible to form long-lasting reciprocal partnerships. To understand partnership formation we also add a treatment where the participants could communicate with each other in a common chat room. Chat transcript reveals that promises are important in forming and sustaining a partnership.
Keywords: Cooperation; Partner choice; Communication; Reciprocity; Prisoner's dilemma (search for similar items in EconPapers)
JEL-codes: C91 C92 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:75:y:2018:i:c:p:12-23
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