Experimental Economics
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Rescooped by Diego Aycinena from What the FAQ
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[VIDEO] The Vampire Economist and the Moral Molecule

In his new book, The Moral Molecule: The Source of Love and Prosperity, neuroeconomist Paul J. Zak discusses his research on oxytocin, what he calls the "moral molecule." For the past 10 years, Zak has been conducting the same kind of trust games that are common in experimental economics, but with a twist. Before and after the trust games, Zak has been taking blood samples with the goal of gaining a better understanding of how and why people trust others.

 

More on OXYTOCIN: http://www.scoop.it/t/science-news?q=oxytocin

 


Via Sakis Koukouvis, Frederic Emam-Zade Gerardino, Renuka Prasad Sahukara
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Rescooped by Diego Aycinena from Flash Design News
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Market Design: Experimental economics at Stanford SITE, Sept 14 ...

We initially started this blog for our Market Design course. We'll post news stories (market design is everywhere) and other items (including stories related to repugnant markets). It is meant to supplement the course page, and ...

Via EA
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Rescooped by Diego Aycinena from Time and Motion - Re-defining Working Life
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The latest from Experimental Philosopher Jonathan Keats | Beyond The Beyond | Wired.com

The latest from Experimental Philosopher Jonathan Keats | Beyond The Beyond | Wired.com | Experimental Economics | Scoop.it
*"Experimental economics" here, if you want my two cents' worth. For Immediate Release contact: jonathon_keats@yahoo.com MONETARY INSTABILITY

Via Mike Stubbs
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Rescooped by Diego Aycinena from Social Foraging
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The Co-Evolution of Fairness Preferences and Costly Punishment

The Co-Evolution of Fairness Preferences and Costly Punishment | Experimental Economics | Scoop.it

We study the co-evolutionary emergence of fairness preferences in the form of other-regarding behavior and its effect on the origination of costly punishment behavior in public good games. Our approach closely combines empirical results from three experiments with an evolutionary simulation model. In this way, we try to fill a gap between the evolutionary theoretical literature on cooperation and punishment on the one hand and the empirical findings from experimental economics on the other hand. As a principal result, we show that the evolution among interacting agents inevitably favors a sense for fairness in the form of “disadvantageous inequity aversion”. The evolutionary dominance and stability of disadvantageous inequity aversion is demonstrated by enabling agents to co-evolve with different self- and other-regarding preferences in a competitive environment with limited resources. Disadvantageous inequity aversion leads to the emergence of costly (“altruistic”) punishment behavior and quantitatively explains the level of punishment observed in contemporary lab experiments performed on subjects with a western culture. Our findings corroborate, complement, and interlink the experimental and theoretical literature that has shown the importance of other-regarding behavior in various decision settings.


Via Ashish Umre
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