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Is reciprocity really outcome-based? A second look at gift-exchange with random shocks.

ABSTRACT: By means of a laboratory experiment, Rubin and Sheremeta (Manag Sci 62(4):985-999, 2016), study a bonus-version of the gift-exchange game, including two treatment variations. First they vary whether the effort provided by the agent directly translates into output for the principal, or whether it is distorted by a shock. Second, for the condition with a shock they vary whether the shock is observed by the principal, or not. The authors' main findings are that (1) the introduction of an unobservable shock significantly reduces welfare; and (2) informing the principal about the size of the shock does not restore gift-exchange. In a replication study we largely reproduce finding (1), but we fail to confirm finding (2). Our data suggests that small behavioral differences in the initial rounds lead to a hysteresis effect that is responsible for the differences in results across studies.

SUBMITTER: Davis BJ

PROVIDER: S-EPMC6956943 | biostudies-literature | 2017

REPOSITORIES: biostudies-literature

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Is reciprocity really outcome-based? A second look at gift-exchange with random shocks.

Davis Brent J BJ Kerschbamer Rudolf R Oexl Regine R

Journal of the Economic Science Association 20171120 2

By means of a laboratory experiment, Rubin and Sheremeta (Manag Sci 62(4):985-999, 2016), study a bonus-version of the gift-exchange game, including two treatment variations. First they vary whether the effort provided by the agent directly translates into output for the principal, or whether it is distorted by a shock. Second, for the condition with a shock they vary whether the shock is observed by the principal, or not. The authors' main findings are that (1) the introduction of an unobservab ...[more]

PMID: 31998602

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