Paper Info
Title
The hot-versus-cold effect in a punishment game: a multi-round experimental study.
Abstract
We conduct a multi-round experiment on a punishment game using both the strategy method and the direct-response method. In the game, the sender may make decisions that are either favorable or unfavorable to the receiver, whereas the receiver may reward the favorable decision and/or punish the unfavorable decision. The hot-versus-cold effect is observed in both sender behaviors and receiver behaviors. Under the strategy method, the senders more often adopt decisions that are favorable to the receivers, whereas the receivers impose punishment more frequently than under the direct-response method. We suggest that in the multi-round experiment, the strategic value of punishment dominates the taste for punishment from the perspective of the receiver. According to our explanation based on mental accounting, the utility of imposing punishment is higher under the strategy method than under the direct-response method. Hence, the receiver is more likely to make punishment decisions. This difference in receiver behaviors prompts the sender to make receiver-favorable decisions more frequently under the strategy method.
Year
DOI
Venue
2018
10.1007/s10479-017-2412-8
Annals OR
Keywords
Field
DocType
Behavioral operations, Punishment game, Multi-round experiment, Strategy method, Experimental economics
Welfare economics,Experimental economics,Economics,Mathematical optimization,Microeconomics,Mental accounting,Communication source
Journal
Volume
Issue
ISSN
268
1-2
1572-9338
Citations 
PageRank 
References 
0
0.34
5
Authors
3
Name
Order
Citations
PageRank
Yukun Zhao100.68
Xiaobo Zhao211716.07
Zuo-Jun Max Shen340826.50