We study if reciprocity in a trust game varies depending on whether the decision is taken in a hot decision-making state versus a cold one. To do so, we compare reciprocal decisions elicited via the direct response method and strategy method. We formulate predictions considering psychological aspects or aspects of the strategic environment that can predict a difference between hot and cold decision-making. Our data show that reciprocation rates were significantly higher under cold decision-making than under hot decision-making. This result is in line with the conjecture that individuals can commit to reciprocity under cold decision-making, while under hot decision-making, they cannot. We also rule out differences in second-order beliefs, complexity, and stakes as possible alternative explanations.
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