Literature DB >> 19147843

Recordkeeping alters economic history by promoting reciprocity.

Sudipta Basu1, John Dickhaut, Gary Hecht, Kristy Towry, Gregory Waymire.   

Abstract

We experimentally demonstrate a causal link between recordkeeping and reciprocal exchange. Recordkeeping improves memory of past interactions in a complex exchange environment, which promotes reputation formation and decision coordination. Economies with recordkeeping exhibit a beneficially altered economic history where the risks of exchanging with strangers are substantially lessened. Our findings are consistent with prior assertions that complex and extensive reciprocity requires sophisticated memory to store information on past transactions. We offer insights on this research by scientifically demonstrating that reciprocity can be facilitated by information storage external to the brain. This is consistent with the archaeological record, which suggests that prehistoric transaction records and the invention of writing for recordkeeping were linked to increased complexity in human interaction.

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Year:  2009        PMID: 19147843      PMCID: PMC2627807          DOI: 10.1073/pnas.0811967106

Source DB:  PubMed          Journal:  Proc Natl Acad Sci U S A        ISSN: 0027-8424            Impact factor:   11.205


  13 in total

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Authors:  C Wedekind; M Milinski
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Authors:  Martin A Nowak; Karl Sigmund
Journal:  Nature       Date:  2005-10-27       Impact factor: 49.962

3.  Getting to know you: reputation and trust in a two-person economic exchange.

Authors:  Brooks King-Casas; Damon Tomlin; Cedric Anen; Colin F Camerer; Steven R Quartz; P Read Montague
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4.  Image scoring and cooperation in a cleaner fish mutualism.

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5.  Costly punishment across human societies.

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Journal:  Science       Date:  2006-06-23       Impact factor: 47.728

6.  Social science. Cooperation, punishment, and the evolution of human institutions.

Authors:  Joseph Henrich
Journal:  Science       Date:  2006-04-07       Impact factor: 47.728

7.  The competitive advantage of sanctioning institutions.

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Journal:  Science       Date:  2006-04-07       Impact factor: 47.728

8.  Evolution of indirect reciprocity by image scoring.

Authors:  M A Nowak; K Sigmund
Journal:  Nature       Date:  1998-06-11       Impact factor: 49.962

9.  A functional imaging study of cooperation in two-person reciprocal exchange.

Authors:  K McCabe; D Houser; L Ryan; V Smith; T Trouard
Journal:  Proc Natl Acad Sci U S A       Date:  2001-09-18       Impact factor: 11.205

10.  The efficient interaction of indirect reciprocity and costly punishment.

Authors:  Bettina Rockenbach; Manfred Milinski
Journal:  Nature       Date:  2006-12-07       Impact factor: 49.962

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  7 in total

1.  Modern behavioral experiments are not economic history.

Authors:  Michael E Smith
Journal:  Proc Natl Acad Sci U S A       Date:  2009-04-02       Impact factor: 11.205

2.  Cooperation under indirect reciprocity and imitative trust.

Authors:  Serguei Saavedra; David Smith; Felix Reed-Tsochas
Journal:  PLoS One       Date:  2010-10-27       Impact factor: 3.240

3.  Disrupting the prefrontal cortex diminishes the human ability to build a good reputation.

Authors:  Daria Knoch; Frédéric Schneider; Daniel Schunk; Martin Hohmann; Ernst Fehr
Journal:  Proc Natl Acad Sci U S A       Date:  2009-11-30       Impact factor: 11.205

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Journal:  PLoS One       Date:  2012-09-07       Impact factor: 3.240

5.  Tools of the trade: the bio-cultural evolution of the human propensity to trade.

Authors:  Armin W Schulz
Journal:  Biol Philos       Date:  2022-03-03       Impact factor: 1.461

6.  Four Puzzles of Reputation-Based Cooperation : Content, Process, Honesty, and Structure.

Authors:  Francesca Giardini; Daniel Balliet; Eleanor A Power; Szabolcs Számadó; Károly Takács
Journal:  Hum Nat       Date:  2021-12-28

7.  Witnessing, Remembering, and Testifying: Why the Past Is Special for Human Beings.

Authors:  Johannes B Mahr; Gergely Csibra
Journal:  Perspect Psychol Sci       Date:  2020-01-21
  7 in total

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