The Vote With the Wallet as a Multiplayer Prisoner's Dilemma
Leonardo Becchetti and
No 141-2015, AICCON Working Papers from Associazione Italiana per la Cultura della Cooperazione e del Non Profit
Socially responsible consumers and investors are increasingly using their consumption and saving choices as a “vote with the wallet” to award companies which are at vanguard in reconciling the creation of economic value with social and environmental sustainability. In our paper we model the vote with the wallet as a multiplayer prisoner’s dilemma, outline equilibria and possible solutions to the related coordination failure problem, apply our analysis to domains in which the vote with the wallet is empirically more relevant, and provide policy suggestions.
Keywords: Corporate Social Responsibility; Multiplayer Prisoner’s Dilemma; Voting with the Wallet (search for similar items in EconPapers)
JEL-codes: C72 C73 D11 H41 M14 (search for similar items in EconPapers)
Pages: 33 pages
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Working Paper: The Vote With the Wallet as a Multiplayer Prisoner’s Dilemma (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:aiccon:2015_141
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