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Market Interaction and Efficient Cooperation

Jordi Brandts and Arno Riedl

No 868, Working Papers from Barcelona Graduate School of Economics

Abstract: We experimentally study causal effects of competitive market experience on efficiency levels attained in a subsequent social dilemma. We compare behavior of pairs of traders who have been market-winners with that of pairs who have been market- losers. We study both the cases where traders interacting in the social dilemma have competed with each other in the market before and where traders do not have a shared market experience. Shared market experience adversely affects efficiency in the social dilemma for both market-winner and market-loser pairs. Market-winners achieve higher efficiency levels in the social dilemma only if market experience is not shared.

Keywords: competition; cooperation; experiments (search for similar items in EconPapers)
JEL-codes: A13 C92 D30 J50 M50 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm, nep-exp, nep-hap, nep-lab and nep-soc
Date: 2015-12
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Working Paper: Market Interaction and Efficient Cooperation (2016) Downloads
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