Reciprocity, Exchange and Redistribution
Author | : Luigi Mittone |
Publisher | : |
Total Pages | : 0 |
Release | : 2008 |
ISBN-10 | : OCLC:1376531278 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book Reciprocity, Exchange and Redistribution written by Luigi Mittone and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inspired by Karl Polanyi's writings on three allocation modes, namely reciprocity, exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline treatment, with no possibility of socialisation, displayed very low levels of allocative efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing the notion of symmetry among the players increased efficiency levels significantly. We then simulated a market exchange, with significant allocative efficiency gains. We conclude that indirect-reciprocity rings among anonymous players can seldom function in the absence of definite institutional refinements, promoting forms of symmetry-acknowledgement.