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About the article
Published Online: 2013-04-11
Published in Print: 2013-01-01
Such agents were called as post-conventional according to Kohlberg’s (1984) classification of stages of moral development.
This corresponds to behavior of a conventional agent according to Kohlberg (1984).
We are grateful to an anonymous referee for bringing this paper to our attention.
One might object to the fact that the psychological cost is symmetric around e*. Note, however, that at equilibrium the agent will never exert effort higher than promised, so the results will not change if the psychological cost is zero for e > e*.
These results require some simple calculations that are, however, standard and are omitted.