RECIPROCITY IN STUDENT GROUPS: EXPERIMENTAL EVIDENCE FROM GREECE

Antonios Avgeris; Panagiota Sergaki; Achilleas Kontogeorgos; Antonios Tiganis

doi:10.20472/ES.2020.9.1.003

Authors

Antonios Avgeris Aristotle University of Thessaloniki, Greece Author
Panagiota Sergaki Aristotle University of Thessaloniki, Greece Author
Achilleas Kontogeorgos University of Patras, Greece Author
Antonios Tiganis Aristotle University of Thessaloniki, Greece Author

DOI:

https://doi.org/10.20472/ES.2020.9.1.003

Keywords:

Decision-making, Dictator Game, Economic Behaviour, Experimental Economics, Greek Universities, Reciprocity, Ultimatum Game

Abstract

Every theory related to the decision-making process assumes that individuals exhibit self-seeking behaviour in a self-regulating economic system. This implies that under conditions of uncertainty and risk, individuals make decisions according to these theories among a set of given alternatives. Nevertheless, results from numerous studies in recent years indicate a different approach to everyday decision-making. Elements of human behaviour such as fairness, altruism, and reciprocity appear to outweigh purely self-interested motives. Therefore, this paper aims to investigate the existence of reciprocity within student communities. To achieve this, two game-theoretic experiments were designed and conducted at two different Greek universities using experimental economics methods. These non-cooperative games (the Ultimatum Game and the Dictator Game) were applied within a unified experimental framework in an uncertain environment. The results of the experimental analysis indicate the presence of reciprocal behaviour (both positive and negative) among students, with only minor differences between the two universities.

Data:
Received: 4 Apr 2020
Revised: 22 May 2020
Accepted: 6 Jun 2020
Published: 20 Jun 2020