Next Article in Journal
Generalized Backward Induction: Justification for a Folk Algorithm
Previous Article in Journal
Behavioural Isomorphism, Cognitive Economy and Recursive Thought in Non-Transitive Game Strategy
Open AccessArticle

Team Production and Esteem: A Dual Selves Model with Belief-Dependent Preferences

Institute of Management and Economics, Clausthal University of Technology, Julius-Albert-Str. 2, 38678 Clausthal-Zellerfeld, Germany
Games 2019, 10(3), 33; https://doi.org/10.3390/g10030033
Received: 27 May 2019 / Revised: 20 July 2019 / Accepted: 10 August 2019 / Published: 14 August 2019
(This article belongs to the Special Issue Advances in Behavioral Economics: Empathy and Happiness)
We propose a dual selves model to integrate affective responses and belief-dependent emotions into game theory. We apply our model to team production and model a worker as being composed of a rational self, who chooses effort, and an emotional self, who expresses esteem. Similar to psychological game theory, utilities depend on beliefs, but only indirectly. More concretely, emotions affect utilities, and the expression of emotions depends on updated beliefs. Modeling affective responses as actions chosen by the emotional self allows us to apply standard game-theoretic solution concepts. The model reveals that with incomplete information about abilities, workers only choose high effort if esteem is expressed based on interpersonal comparisons and if the preference for esteem is a status preference. View Full-Text
Keywords: affective responses; belief-dependent motivations; emotions; psychological game theory; team production; status preferences; esteem affective responses; belief-dependent motivations; emotions; psychological game theory; team production; status preferences; esteem
Show Figures

Figure 1

MDPI and ACS Style

Greiff, M. Team Production and Esteem: A Dual Selves Model with Belief-Dependent Preferences. Games 2019, 10, 33.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map

1
Back to TopTop