Public Good Experiments
In public good experiments, behavioral economists have demonstrated that the potential for reciprocal actions by players increases the rate of contribution to the public good, providing evidence for the importance of reciprocity in social situations.
Read more about this topic: Reciprocity (social Psychology)
Famous quotes containing the words public and/or experiments:
“The rumor of a great city goes out beyond its borders, to all the latitudes of the known earth. The city becomes an emblem in remote minds; apart from the tangible export of goods and men, it exerts its cultural instrumentality in a thousand phases.”
—In New York City, U.S. public relief program (1935-1943)
“There are three principal means of acquiring knowledge available to us: observation of nature, reflection, and experimentation. Observation collects facts; reflection combines them; experimentation verifies the result of that combination. Our observation of nature must be diligent, our reflection profound, and our experiments exact. We rarely see these three means combined; and for this reason, creative geniuses are not common.”
—Denis Diderot (1713–1784)