Caleb A. Cox

Bio: Caleb A. Cox is an academic researcher from Virginia Commonwealth University. The author has contributed to research in topics: Public good & Social dilemma. The author has an hindex of 7, co-authored 23 publications receiving 204 citations. Previous affiliations of Caleb A. Cox include University of North Carolina at Chapel Hill & Durham University.

Framing and Feedback in Social Dilemmas with Partners and Strangers

Abstract: We study framing effects in repeated social dilemmas by comparing payoff-equivalent Give- and Take-framed public goods games under varying matching mechanisms (Partners or Strangers) and levels of feedback (Aggregate or Individual). In the Give-framed game, players contribute to a public good, while in the Take-framed game, players take from an existing public good. The results show Take framing and Individual-level feedback lead to more extreme behavior (free-riding and full cooperation), especially for Partners. These results suggest Take framing and Individual-level feedback increase the variability of cooperation.

Revealed reputations in the finitely repeated prisoners’ dilemma

Abstract: In a sequential-move, finitely repeated prisoners’ dilemma game (FRPD), cooperation can be sustained if the first-mover believes her opponent might be a behavioral type who plays a tit-for-tat strategy in every period. We test this theory by revealing second-mover histories from an earlier FRPD experiment to their current opponent. Despite eliminating the possibility of reputation-building, aggregate cooperation actually increases when histories are revealed. Cooperative histories lead to increased trust, but negative histories do not cause decreased trust. We develop a behavioral model to explain these findings.

Personality and prosocial behavior: A theoretical framework and meta-analysis.

Abstract: Decades of research document individual differences in prosocial behavior using controlled experiments that model social interactions in situations of interdependence. However, theoretical and empirical integration of the vast literature on the predictive validity of personality traits to account for these individual differences is missing. Here, we present a theoretical framework that identifies 4 broad situational affordances across interdependent situations (i.e., exploitation, reciprocity, temporal conflict, and dependence under uncertainty) and more specific subaffordances within certain types of interdependent situations (e.g., possibility to increase equality in outcomes) that can determine when, which, and how personality traits should be expressed in prosocial behavior. To test this framework, we meta-analyzed 770 studies reporting on 3,523 effects of 8 broad and 43 narrow personality traits on prosocial behavior in interdependent situations modeled in 6 commonly studied economic games (Dictator Game, Ultimatum Game, Trust Game, Prisoner's Dilemma, Public Goods Game, and Commons Dilemma). Overall, meta-analytic correlations ranged between -.18 ≤ ρ ≤ .26, and most traits yielding a significant relation to prosocial behavior had conceptual links to the affordances provided in interdependent situations, most prominently the possibility for exploitation. Moreover, for several traits, correlations within games followed the predicted pattern derived from a theoretical analysis of affordances. On the level of traits, we found that narrow and broad traits alike can account for prosocial behavior, informing the bandwidth-fidelity problem. In sum, the meta-analysis provides a theoretical foundation that can guide future research on prosocial behavior and advance our understanding of individual differences in human prosociality. (PsycINFO Database Record (c) 2019 APA, all rights reserved).

Why people prefer unequal societies

Abstract: Inequality and unfairness are not the same thing. Starmans, Sheskin and Bloom summarize evidence showing that people are bothered not by economic inequality, but rather by economic unfairness.

The Real and Financial Implications of Corporate Hedging

Abstract: We study the implications of hedging for firm financing and investment. We do so using an extensive, hand-collected dataset on corporate hedging activities. Hedging can lower the odds of negative firm realizations, reducing the expected costs of financial distress. In theory, this should ease a firm's access to credit. Using a tax-based instrumental variable approach, we find that hedgers pay lower interest spreads and are less likely to have capital expenditure restrictions in their loan agreements. These favorable financing terms, in turn, allow hedgers to invest more. Our tests characterize two exact channels (cost of borrowing and investment restrictions) through which hedging affects corporate outcomes. The analysis we present shows that hedging has a first-order effect on firm financing and investment, and provides new insights into how hedging affects corporate wealth. More broadly, our study contributes novel evidence on the real consequences of financial contracting.

Beyond good and evil: what motivations underlie children's prosocial behavior?

Abstract: Researchers have proposed different accounts of the development of prosocial behavior in children. Some have argued that behaviors like helping and sharing must be learned and reinforced; others propose that children have an initially indiscriminate prosocial drive that declines and becomes more selective with age; and yet others contend that even children's earliest prosocial behaviors share some strategic motivations with the prosociality of adults (e.g., reputation enhancement, social affiliation). We review empirical and observational research on children's helping and sharing behaviors in the first 5 years of life, focusing on factors that have been found to influence these behaviors and on what these findings suggest about children's prosocial motivations. We use the adult prosociality literature to highlight parallels and gaps in the literature on the development of prosocial behavior. We address how the evidence reviewed bears on central questions in the developmental psychology literature and propose that children's prosocial behaviors may be driven by multiple motivations not easily captured by the idea of intrinsic or extrinsic motivation and may be selective quite early in life.