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 blacksmith dropped his hammer, the carpenter his plane, the mason his trowel, the farmer his sickle, the baker his loaf, and the tapster his bottle. All were off for the mines, some on horses, some on carts, and some on crutches, and one went in a litter.”
—For the State of California, 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)