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an interactive guide to the game theory of why & how we trust each other.
- Notes
"Fewer and fewer people say they trust each other" To see a...
- Notes
- Description
- Predicted Results
- Actual Results
- Explanations
In the trust game, like the ultimatum game and the dictator game, there are two participants that are anonymously paired. Both of these individuals are given some quantity of money. The first individual, or player, is told that they must send some amount of their money to an anonymous second player, though the amount sent may be zero. The first pla...
Under standard economic assumptions of rational self-interest, the predicted actions of the first player in the trust game will be that he will choose to send nothing. Even with perfect information about the mechanics of the game, the first player option to send nothing (and thus the second player option to send nothing back) is the Nash equilibriu...
In the original Berg et al. experiment, thirty out of thirty-two game trials resulted in a violation of the results predicted by standard economic theory. In these thirty cases, first players sent money that averaged slightly over fifty percent of their original endowment. Additional runs of this game by Brulhart showed similar results on the part ...
Despite these results apparently contradicting the economic notion of rational self-interest, there are explanations of the results that preserve this notion. If they are acting under rational self-interest, a first player who decides to give anything to the second player must be expecting a positive return on their risk.One way for a first player ...
Oct 1, 2011 · Trust game. Meta-analysis. Cross-cultural experiments. 1. Introduction. Trusting in others and reciprocating that trust with trustworthy actions are everyday aspects of life.
- Noel D. Johnson, Alexandra A. Mislin
- 2011
Sep 10, 2019 · This article surveys the experimental literature on trust and trustworthiness, focusing on the Trust Game as a popular paradigm to measure individual differences in these traits. It also discusses the limitations and alternatives of the Trust Game, as well as the neuroscientific aspects of trust.
Trust Game Experiment. Two different approaches can be used in experiments with the Trust Game. A simple experiment involving only the Trust Game (which is Treatment 1 below) will reveal deviations from the economic man model that are consistent with trust and positive reciprocity.
This article reviews different variants of trust games and how game theory can explain and test trust in long-term relations and networks. It also discusses how actors can modify embeddedness characteristics to create norms and institutions of trust.
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Play a trust game online and see how your behavior and payoff compare with others. Learn about the Nash equilibrium, trust, reciprocity, and social history in this game.
