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A game-theoretic model of reciprocity and trust that incorporates personality traits

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dc.contributor.author Guzmán, Ricardo
dc.contributor.author Harrison, Rodrigo
dc.contributor.author Abarca, Nureya
dc.contributor.author Villena, Mauricio G.
dc.date.accessioned 2020-09-02T20:51:56Z
dc.date.available 2020-09-02T20:51:56Z
dc.date.issued 2019
dc.identifier.citation Journal of Behavioral and Experimental Economics 84 (2020) es
dc.identifier.uri https://doi.org/10.1016/j.socec.2019.101497 es
dc.identifier.uri http://hdl.handle.net/11447/3392
dc.description.abstract We propose a game-theoretic model of reciprocity and trust that incorporates personality traits. In the model, positive and negative reciprocity are “reciprocal preferences:” parameters of heterogeneous utility functions that take into account the material welfare of others (positively if they have been kind, negatively if they have been hostile). Trust, on the other hand, is an individual bias that distorts probabilistic beliefs about the trustworthiness of others. Unlike typical game-theoretic models, our model provides an explanation for the heterogeneity of preferences and probabilistic beliefs: a person’s personality traits determine both the parameters of his utility function and the magnitude of his beleif bias. We tested the model experimentally. Subjects completed a psychometric questionnaire that measures three personality traits: positive reciprocity, negative reciprocity, and trust. Subsequently, they played a sequential prisoner’s dilemma with random re-matching and payoffs changing from round to round. From the subjects’ psychometric scores and game behaviors we inferred the relationship between reciprocal preferences, belief biases, and personality. The results confirmed the hypotheses of the model. es
dc.format.extent 11 p. es
dc.language.iso en es
dc.subject Reciprocity es
dc.subject Trust es
dc.subject Personality es
dc.subject Psychometrics es
dc.subject Revealed preferences es
dc.title A game-theoretic model of reciprocity and trust that incorporates personality traits es
dc.type Article es


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