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| Author: | Bosman, R. Winden, F. van |
| Title: | Emotional hazard in a power-to-take experiment |
| Journal: | Economic Journal
2002 : JAN, VOL. 112:476, p. 147-169 |
| Index terms: | Business games Decision making Social psychology |
| Language: | eng |
| Abstract: | The object of this study is to investigate how emotions generate behaviour in a laboratory experiment. A simple 'power-to-take' game is used. The game has two stages. First, one player can claim any part of the other's income (take rate). The the latter player can respond by destroying own income. The authors focus on how emotions influence responses and show: (1) a higher take rate increases (decreases) intensity of negative (positive) emotions; (2) negative emotions drive destruction; (3) at high emotional intensity, responders destroy everything; (4) expectations affect the probability of punishment. Emotional hazard is identified as a new source of efficiency costs. |
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