Human cooperation may partly depend on the presence of individuals willing to incur personal costs to punish noncooperators. The psychological factors that motivate such 'altruistic punishment' are not fully understood; some have argued that altruistic punishment is a deliberate act of norm enforcement that requires self-control, while others claim that it is an impulsive act driven primarily b...

We investigate whether peer punishment is an efficient mechanism for enforcing cooperation in an experiment with a long time horizon. Previous evidence suggests that the costs of peer punishment can be outweighed by the benefits of higher cooperation if (i) there is a sufficiently long time horizon and (ii) punishment cannot be avenged. However, in most instances in daily life, when individuals...

Humans will incur costs to punish others who violate social norms. Theories of justice highlight 2 motives for punishment: a forward-looking deterrence of future norm violations and a backward-looking retributive desire to harm. Previous studies of costly punishment have not isolated how much people are willing to pay for retribution alone, because typically punishment both inflicts damage (sat...

We investigated how frequency and amount of punishment affect the decision making of Iranian subjects. In our first experiment, performing a computer-based Persian version of the Iowa Gambling Task (IGT), our subjects scored remarkably lower than their Western counterparts. Moreover, our subjects chose more frequently and more rapidly from decks that had less frequent but larger amounts of puni...

Although political views have been thought to arise largely from individuals' experiences, recent research suggests that they may have a biological basis. We present evidence that variations in political attitudes correlate with physiological traits. In a group of 46 adult participants with strong political beliefs, individuals with measurably lower physical sensitivities to sudden noises and t...

This paper examines the link between currency unions and customs unions. The size of a bloc of countries practising some form of co-ordination of monetary policy is limited by the incentive to free-ride that formation of the bloc creates. However, when the threat of a trade war is introduced, the stable size of the bloc increases. This suggests that a) large currency areas are more likely to em...

This paper shows that on average, firms with higher levels of capital intensity experience larger responses in equity price to monetary policy action. This heterogeneous effect is economically large and statistically significant at high levels of confidence. These results suggest that monetary policy has important and substantial distributional implications on the US economy that can be measure...

An experiment with adult humans investigated the effects of response-contingent money loss (response-cost punishment) on monetary-reinforced responding. A yoked-control procedure was used to separate the effects on responding of the response-cost contingency from the effects of reduced reinforcement density. Eight adults pressed buttons for money on a three-component multiple reinforcement sche...

Despite a great deal of evidence that corporal punishment is harmful, corporal punishment is still very prevalent worldwide. We examine predictors of different types of corporal punishment among Ukrainian mothers in 12 communities across Ukraine. Findings suggest that maternal spirituality, maternal coping styles, family communication, and some demographic characteristics are predictive of moth...