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Despite prevailing research asserting the efficiency and stability of punishment over rewards in an environment of perfect information, the prevalence of reward structures in everyday life remains apparent. This commonality might be explained by the enhanced cooperative behavior and welfare these structures promote in social dilemmas, particularly when accurate assessment of contribution is challenging. However, this assertion remains largely uncorroborated by empirical evidence. This study investigates whether reward-based structures provide a satisfactory resolution for social dilemmas in the context of imperfect information. The findings suggest that reward structures facilitate higher cooperation levels and afford participants greater welfare in imperfect information scenarios. Notably, the majority of participants demonstrated a preference for reward structures, even amidst substantial information noise. This research illuminates the superior applicability of reward structures in real-world contexts.
Bargaining is an essential part of our lives; however, there has been little research focusing on inter-brain neural mechanisms underlying bilateral bargaining. In the current study, we employed the electroencephalography (EEG) hyperscanning technique to investigate how the power to reject offers influences neuronal correlation between bargainers. As the bilateral bargaining game can be converted into either the ultimatum game or the dictator game according to whether the responder does or does not have the power to reject offers during the bargaining process, it provides a proper framework for investigating this topic. When responders were able to reject offers, proposers provided fair offe...
When a sequence of decision makers with private information announce public predictions, initial conformity can create an information cascade in which all future decision makers will rationally match the early announcements and disregard private information. This study uses event-related potentials (ERPs) to compare the time course of neural activities associated with information cascade during sequential decision-making. In our experiment, a participant receives a private signal matched with public information in the congruent condition, while in the incongruent condition he or she receives a private signal against the public information. The results show that the conflict between private and public information triggers a more negative deflection peaking around 300 ms, with a right frontal scalp distribution similar to N200. Importantly, the N200 effect is negatively correlated with information cascade. These results add to the growing literature on neuronal mechanisms of information cascades by disentangling cognitive control related processes in inhibiting overweighting private information and the neural signal of a cascade in sequential decision-making.
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A systematic analysis of economic reform in the sector that contributes some 90 per cent of China's state revenue - the industrial sector.