Theories of Fairness and Reciprocity : Evidence andEconomic Applications

Most economic models are based on the self-interest-hypothesis that assumes that all people are exklusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggeststhat many people are strongly motivated by concerns for fairness and reciprocity....

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Year of publication:	2000-12-23
Authors:	Fehr, Ernst ; Schmidt, Klaus
Publisher:	Institut für Empirische Wirtschaftsforschung <Zürich>
Subject:	Motivation \| Intrinsische Motivation \| Altruismus \| Prosoziales Verhalten \| Reziprozität \| Soziale Motivation

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1 Introduction
2 Empirical Foundations of Fairness and Reciprocity2.1 Where does Fairness matter?
2.2 Experimental Evidence
2.3 Interpretation of the Evidence
3 Theories of Fairness and Reciprocity
3.1 Social Preferences
3.1.4 Altruism and Spitefulness
3.2 Models of Intention-Based Reciprocity
3.3 Axiomatic Approaches
4 Discriminating between Theories of Fairness
4.1 Who are the Relevant Reference Actors?
4.2 Equality versus Efficiency
4.3 Revenge versus Inequity Reduction
4.4 Does Kindness Trigger Rewards
4.5 Summary and Outlook
5 Economic Applications
5.1 Competition and Fairness When Does Fairness Matter?
5.2 Endogenous Incomplete Contracts
5.3 The Optimal Allocation of Property Rights
6 Conclusions

Persistent link: https://www.econbiz.de/10005846404