Incomplete-Information Models of Guilt Aversion in the Trust Game
研究了信任博弈中内疚厌恶的不完全信息模型，假设参与者具有异质信念层级，刻画了信任以正概率发生的均衡，有助于组织实验数据。
In the theory of psychological games it is assumed that players’ preferences on material consequences depend on endogenous beliefs. Most of the applications of this theoretical framework assume that the psychological utility functions representing such preferences are common knowledge. However, this is often unrealistic. In particular, it cannot be true in experimental games where players are subjects drawn at random from a population. Therefore, an incomplete-information methodology is needed. We take a first step in this direction, focusing on guilt aversion in the Trust Game. In our models, agents have heterogeneous belief hierarchies. We characterize equilibria where trust occurs with positive probability. Our analysis illustrates the incomplete-information approach to psychological games and can help to organize experimental results in the Trust Game. This paper was accepted by Uri Gneezy, behavioral economics.