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1、*AFineisaPriceUriGneezy**andAldoRustichini***Preliminarydraft,October5,1998AbstractThedeterrencehypothesispredictsthattheintroductionofapenaltyforaspecificbehavior,whichleaveseverythingelseunchanged,willreducetheoccurrenceofthatbehavior.Wepresentheretheresultofafieldstudyofthis
2、hypothesis,conductedinagroupofday-carecentersinIsrael.Intheseday-carecenters,parentssometimesarrivelatetocollecttheirchildren,forcingateachertostayaftertheofficialclosingtime.Westudythebehavioroftheparentsoverthreeperiods.Inthefirstfourweeksperiodwesimplyrecordthenumberoflate-c
3、omingparents.Inthesecondperiod,twelveweekslong,weintroduceamonetaryfineforlate-comingparents.Asaresultthenumberoflate-comingparentsincreasedsignificantly.Inthelastperiodoffourweeksweobservedtheeffectofcancellationofthefine.Heretheresultwasthatthenumberoflate-comingparentsremain
4、edstableatthelevelprevailinginthesecondperiod,hencehigherthanitwasinthefirstperiod,beforetheintroductionofthefine.Ourresultsarenotimmediatelyevidenceagainstthedeterrencehypothesis.Ratherwearguethatpenalties,(justasrewards),areusuallyintroducedintoanincompletecontract,socialorpr
5、ivate.Thesepenaltiesmaychangetheinformationortheperceptionthatagentshaveoftheoutcomeinthestateswherethecontractissilent,andthereforetheeffectonbehaviormayoppositethanexpected.Ifthisistrue,thedeterrencehypothesislosesgreatpartofitspredictivestrength,sincetheclause``everythingels
6、eisleftunchangedmightbehardtosatisfyorverify.*WethankDavidEasley,PatrickFrancois,EdwardGlaeser,DavidLevine,EllenNyhus,TomPalfrey,LucaRigotti,JoseScheinkman,PeytonYoung,PaulWebleyforveryusefulconversationsontheinterpretationoftheresultsofourexperiment.**UniversityofHaifa,Israel.
7、Email:gneezy@econ.haifa.ac.il***CentERforEconomicResearch,TilburgUniversity,TheNetherlands.Email:aldo@kub.nl1IntroductionSupposeyouareamanagerofaday-carecenterforlittlechildren.Theday-careisscheduledtooperateeverydayuntil16:00,whentheparentsofthechildrenaresupposedtocomeandcoll
8、ectthem.However,quitefrequentlyparentsarrivelatetocoll
