Dynamic Volunteer's Dilemma With Procrastinators

The symmetric Volunteer's dilemma game (VOD) models a situation in which each ofN actors faces the decision of either producing a step-level collective good (action “C”) or freeriding (“D”). One player's cooperative action suffices for producing the collective good. Unilateral cooperation yields a payoffU forD-players andU-K for the cooperative player(s). However, if all actors decide for “freeriding”, each player's payoff is zero (U>K>0). In this article, an essential modification is discussed. In an asymmetric VOD, the interest in the collective good and/or, the production costs (i.e. U or K) may vary between actors. The generalized asymmetric VOD is similar to market entry games. Alternative hypotheses about the behaviour of subjects are derived from a game-theoretical analysis. They are investigated in an experimental setting. The application of the mixed Nash-equilibrium concept yields a rather counter-intuitive prediction which apparently contradicts the empirical data. The predictions of the Harsanyi-Selten-theory and Schelling's “focal point theory” are in better accordance with the data. However, they do not account for the “diffusion-of-responsibility-effect” also observable in the context of an asymmetric VOD game.

Social orientation analysis of the common and individual interest problems.- Toward more locomotion in experimental games.- Individual reasoning process in the participation game with period.- The position effect: The role of a player's serial position in a resource dilemma game.- Positive and negative mood effects on solving a resource dilemma.- Fairness judgements in an asymmetric public goods dilemma.- Group size effects in social dilemmas: A review of the experimental literature and some new results for one-shot N-PD games.- Provision of step-level public goods: Effects of different information structures.- Conditional contributions and public good provision.- Convergence in the orange grove: Learning processes in a social dilemma setting.- Leadership and group identity as determinants of resource consumption in a social dilemma.- Prisoner's dilemma networks: Selection strategy versus action strategy.- Choice of strategies in social dilemma supergames.- Social dilemmas exist in space.- Commuting by car or by public transportation? An interdependence theoretical approach.- Evolution of norms without metanorms.- Computer simulations of the relation between individual heuristics and global cooperation in prisoner's dilemmas.- What risk should a selfish partner take in order to save the life of a nonrelative, selfish friend? - A stochastic game approach to the prisoner's dilemma.- Learning models for the prisoner's dilemma game: A review.- Social capital and cooperation: Communication, bounded rationality, and behavioral heuristics.- Cooperation in an asymmetric volunteer's dilemma game: Theory and experimental evidence.- Ten rules of bargaining sequences: A boundedly rational model of coalition bargaining in characteristic function games.- Aspiration processing in multilateral bargaining: Experiment, theory and simulation.- Resistance against mass immigration - An evolutionary explanation.- Authors index.

We study the use of financial contracts as bid‐coordinating device in multi‐unit uniform price auctions. Coordination is required whenever firms face a volunteer's dilemma in pricing strategies: one firm (the “volunteer") is needed to increase the market clearing price. Volunteering, however, is costly, as inframarginal suppliers sell their entire capacity whereas the volunteer only sells residual demand. We identify conditions under which signing financial contracts solves this dilemma. We test our framework exploiting data on contract positions by large producers in the New York power market. Using a Monte Carlo simulation, we show that the contracting strategy is payoff dominant and provide estimates of the benefits of such strategy.

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