Article ID Journal Published Year Pages File Type
5071305 Games and Economic Behavior 2017 23 Pages PDF
Abstract
Two individuals face a regular task that requires the effort of only one. They take turns but sometimes arrange to swap obligations. These swaps account for their changing, private costs. While seemingly primitive, flexible turn-taking is surprisingly efficient, even relative to what can be achieved by mechanisms using monetary transfers. I model and experimentally evaluate a simple form of flexible turn-taking and then present a second form that is both consistent with patterns of subject behavior and approximately second-best in a benchmark case.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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