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- handle: 10670/1.n42y72
- hal: hal-01476440
- doi: 10.1111/jpet.12181
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info:eu-repo/semantics/altIdentifier/doi/10.1111/jpet.12181
info:eu-repo/semantics/OpenAccess
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mutual-aid games I - Health, Education, and Welfare/I.I1 - Health/I.I1.I18 - Government Policy • Regulation • Public Health H - Public Economics/H.H2 - Taxation, Subsidies, and Revenue/H.H2.H21 - Efficiency • Optimal Taxation H - Public Economics/H.H4 - Publicly Provided Goods/H.H4.H41 - Public Goods C - Mathematical and Quantitative Methods/C.C7 - Game Theory and Bargaining Theory/C.C7.C72 - Noncooperative Games C - Mathematical and Quantitative Methods/C.C9 - Design of Experiments/C.C9.C91 - Laboratory, Individual BehaviorSujets proches
Amusements Children--Recreation Games for children Pastimes Primitive games Recreations Games, Primitive Children's games Balancing (Physics) Balance (Physics) BalanceCiter ce document
Louis Lévy-Garboua et al., « Voluntary Contributions to a Mutual Insurance Pool », HAL-SHS : économie et finance, ID : 10.1111/jpet.12181
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Résumé
We study mutual-aid games in which individuals choose to contribute to an informal mutual insurance pool. Individual coverage is determined by the aggregate level of contributions and a sharing rule. We analyze theoretically and experimentally the (ex ante) efficiency of equal and contribution-based coverage. The equal coverage mechanism leads to a unique no-insurance equilibrium while contribution-based coverage develops multiple equilibria and improves efficiency. Experimentally, the latter treatment reduces the amount of transfers from high contributors to low contributors and generates a \dual interior equilibrium". That dual equilibrium is consistent with the co-existence of different prior norms which correspond to notable equilibria derived in the theory. This results in asymmetric outcomes with a majority of high contributors less than fully reimbursing the global losses and a significant minority of low contributors less than fully defecting. Such behavioral heterogeneity may be attributed to risk attitudes (risk tolerance vs risk aversion) which is natural in a risky context.