Reciprocity, Exchange and Redistribution. An experimental investigation inspired by Karl Polanyiï¿ ½s The Economy as Instituted Process
G Danese, L Mittone - 2008 - ideas.repec.org
Inspired by Karl Polanyiï¿ ½s writings on three allocation modes, namely reciprocity,
exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline
treatment, with no possibility of socialisation, displayed very low levels of allocative
efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing
the notion of symmetry among the players increased efficiency levels significantly. We then
simulated a market exchange, with significant allocative efficiency gains. We conclude that …
exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline
treatment, with no possibility of socialisation, displayed very low levels of allocative
efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing
the notion of symmetry among the players increased efficiency levels significantly. We then
simulated a market exchange, with significant allocative efficiency gains. We conclude that …
Reciprocity, Exchange and Redistribution: An Experimental Investigation Inspired by Karl Polanyi's' The Economy as Instituted Process'
L Mittone, G Danese - Available at SSRN 1152645, 2008 - papers.ssrn.com
Abstract Inspired by Karl Polanyi's writings on three allocation modes, namely reciprocity,
exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline
treatment, with no possibility of socialisation, displayed very low levels of allocative
efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing
the notion of symmetry among the players increased efficiency levels significantly. We then
simulated a market exchange, with significant allocative efficiency gains. We conclude that …
exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline
treatment, with no possibility of socialisation, displayed very low levels of allocative
efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing
the notion of symmetry among the players increased efficiency levels significantly. We then
simulated a market exchange, with significant allocative efficiency gains. We conclude that …
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