Harrie A. A. Verbon

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Recent theoretical work shows that folk theorems can be developed for infinite overlapping generations games. Cooperation in such games can be sustained as a Nash equilibrium. Besides the efficient cooperative equilibrium there is also the inefficient non-cooperative equilibrium. This paper investigates experimentally whether cooperation actually occurs in(More)
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We examine an experimental gift exchange game in which the players can improve upon the unique no-gifts equilibrium through cooperative gift giving. The main feature of the study is that there are two different types of gift exchange, which we call simple and complex exchange, respectively. Complex exchange gives higher payoffs than simple exchange but it(More)
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In a three player dynamic public goods experiment, social output today determines production possibilities tomorrow. In each period, players choose to sabotage, to cooperate , or to play best response. Sabotage harms social output and growth. Mutual cooperation maximises both. The property rights to social output are distributed unequally. Extent and skew(More)
This paper investigates whether transactions where the buyer (or the seller) always moves …rst, and the seller (or the buyer) always moves second in the exchange gives higher payo¤s than exchanges in which it is randomly determined who moves …rst. We examine the e¤ect of two treatment variables: Partners versus Strangers and …xed versus changing positions.(More)
In the standard setting a system of tradable permits is effective and cost-efficient in attaining the policy objective of pollution reduction. This outcome is challenged in case of a tradable permit system in a federal system/constitution with individual states having discretionary power regarding environmental policy and where pollution is transboundary(More)
This paper analyses the e¤ects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy. The economy consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector and is assumed to depend positively on its size. It is shown(More)
This paper analyses the e¤ects of reducing unfunded social security in a closed economy that consists of a service sector and a commodity sector. It is shown that if old agents mainly demand labour intensive services, a modest decrease of the pay-as-you-go pension scheme still raises long-run utility as long as the economy is dynamically e¢cient. However,(More)