Efficient social contracts and group selection

نویسندگان

  • Simon M. Huttegger
  • Rory Smead
چکیده

We consider the Stag Hunt in terms of Maynard Smith’s famous Haystack model. In the Stag Hunt, contrary to the Prisoner’s Dilemma, there is a cooperative equilibrium besides the equilibrium where every player defects. This implies that in the Haystack model, where a population is partitioned into groups, groups playing the cooperative equilibrium tend to grow faster than those at the noncooperative equilibrium. We determine under what conditions this leads to the takeover of the population by cooperators. Moreover, we compare our results to the case of an unstructured population and to the case of the Prisoner’s Dilemma. Finally, we point to some implications our findings have for three distinct ideas: Ken Binmore’s group selection argument in favor of the evolution of efficient social contracts, Sewall Wright’s Shifting Balance theory, and the equilibrium selection problem of game theory.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Efficient Sorting in a Dynamic Adverse-Selection Model

We discuss a class of markets for durable goods where efficiency (or approximate efficiency) is obtained despite the presence of information asymmetries. In the model, the number of times a good has changed hands (the vintage of the good) is an accurate signal of its quality, each consumer self-selects into obtaining the vintage that the social planner would have assigned to her, and consumers’...

متن کامل

ارانه الگوی رتبه بندی HSE پیمانکاران پیش از عقد قرارداد بر اساس سطح پیمان

  Background and aims: ‏ Evaluation of the contractor’s HSE is a key issue for the employer that influences the selection of a contractor. An appropriate method of assessment can play a significant role in the selection of qualified contractors. This paper presents a new method for ranking of contractor’s HSE at pre-contract stage of a project.   Methods: To develop this new evaluation method, ...

متن کامل

Incentive Efficient Price Systems in Economies with Adverse Selection∗

We decentralize incentive efficient allocations in large adverse selection economies by introducing a Walrasian market for mechanisms, that is, for menus of contracts. Facing a budget constraint, informed individuals choose lotteries over mechanisms, while firms supply (slots at) mechanisms at given prices. An equilibrium requires that firms cannot favorably change, or cut, prices. We show that...

متن کامل

Relative Performance Evaluation and Related Peer Groups in Executive Compensation Contracts

We examine the explicit use of relative performance evaluation (RPE) in executive compensation contracts and the selection of RPE peers. Using S&P 1500 firms’ first proxy disclosures under the SEC’s 2006 executive compensation disclosure rules, we demonstrate that incorporating details of RPE contracts (such as peer group composition) in the traditional implicit test significantly improves the ...

متن کامل

Modelling and Experimental Testing of Asymmetric Information Problems in Lease and Hire Contracts (Based on Contract Theory)

This article aims to study lease and hiring contract in the Iranian-Islamic setting and analyze the asymmetric information problem in these contracts. For doing this, we study the characteristics of lease and hiring contracts in Iran (real world experimental characteristics that recognized in other studies), using library method, then we mathematically model different aspects of asymmetric info...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2011