Economics - Research Publications

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Start date: 2006 × Subject: Asymmetry ×

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    Asymmetric enforcement of cooperation in a social dilemma
    Nikiforakis, Nikos ; NORMANN, HANS-THEO ; Wallace, Brian ( 2007-01)
    The imposition of sanctions is one of the most common means of enforcing cooperation indecentralized interactions. Typically, agents are asymmetric in the sense that each has a differentsanctioning power. Using a public-good experiment we analyze such a decentralizedpunishment institution in which agents are asymmetric. The asymmetric punishment institutionprevents the decay of cooperation towards the non-cooperative equilibrium level. Strongagents contribute less to the public good, but punish more than weak agents. At the aggregatelevel, we observe remarkable similarities between outcomes in asymmetric and symmetricpunishment institutions.
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    Testing for rate-dependence and asymmetry in inflation uncertainty: evidence from the G7 economies
    Henry, Olan ; OLEKALNS, NILSS ; Suardi, Sandy ( 2006-02)
    The Friedman-Ball hypothesis implies a link between the inflation rate and inflationuncertainty. In this paper we employ a new test for the joint null hypothesis of no dependenceeffects and no asymmetry in the G7 inflation volatility. The results show that higher inflationrates operate additively via the conditional variance of inflation to induce greater inflationuncertainty in the U.S., U.K. and Canada. In addition, positive inflationary shocks are found togenerate greater inflation uncertainty than negative shocks of a similar magnitude in the U.K. andCanada.