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Write 2 page essay on the topic Experimental economics summary paper.Download file to see previous pages... Main Findings The article specifically showed that reciprocity is achieved when trust has be
Write 2 page essay on the topic Experimental economics summary paper.
Download file to see previous pages...Main Findings The article specifically showed that reciprocity is achieved when trust has been developed through personal and social interaction. This was identified in the experiment using the concept of investment game. The belief that self-interest can substantially explain how an individual may behave from an economic standpoint was challenged and proved to be insufficient to give explanation in understanding human behavior in the economic context (Berg, Dickhaut, &. McCabe 137). The concept of trust and reciprocity was found to be dominating in the investment game which implies that individuals try to develop relationship and are willing to give up self-interested motives. The whole point of this is that an individual wants to continue harmonious relationship and aim for stability in order to be treated with fairness and equality in the long run. Another important justification and which could also stand as another important result is the inclusion of social norm as the basis of decision of an individual to go for trust and reciprocity (Berg, Dickhaut, &. McCabe 132).
