Abstract In our paper,we carry out a market transactions experiment in an incomplete contracting environment and study how reciprocity mechanism can influence contract efficiency and behavior of contracting man.We obtain two major conclusions:(1) Reciprocity mechanism can significantly improve the efficiency of contract,and it is more compatible to variable price contract.(2) The contracting men show a solid social preference,such as risk aversion and unfair aversion.
YUAN Zhuo-Qun,QIN Hai-Yang,YANG Hui-Chao. The Influence of Reciprocity Mechanism on the Efficiency of Incomplete Contract. Economic Survey, 2015, 31(4): 073.
2015, Vol. 31 
