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:
“George Shears ... was hanged in a barn near the store. The rope was thrown over a beam, and he was asked to walk up a ladder to save the trouble of preparing a drop for him. “Gentlemen,” he said, “I am not used to this business. Shall I jump off or slide off?” He was told to jump.”
—For the State of Montana, 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)