perceived and the actual fairness of the income generation process affects this association. Building on a simple model of … individual labor-market participation under uncertainty, we predict that higher levels of perceived fairness cause higher levels …, income inequality is perceived more negatively with increased perceived fairness, due to the need for unexpected policy …

and firms. This ignores the frictions that arise when workers and firms meet in a multilateral way and cannot coordinate … their application and hiring decisions. I analyze the magnitude of these frictions. For this purpose, I present an … determine the loss in social surplus compared to a Walrasian world. Frictions on the worker and the firm side each cause …

affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and price-cost margins, although the … average price in the market can be countercyclical if the entrant is a first mover, and capacity utilization can be either pro … firm can either amplify or dampen the effect of demand fluctuations on prices, price-cost margins, and capacity utilization. …

An important element for the public support of policies is their perceived justice. At the same time most policy … their own risk preferences. The observed allocations are consistent with four different views of justice under uncertainty. …

information, and political participation. …

fairness and redistributional choices. A fortune reversal is generally perceived to be fair behind a thick VOI, but deemed … exists between the perception of fairness and the certainty levels about social position. A 50-50 split is preferred with …

There is clear evidence that fairness plays a role in redistribution. Individuals want to compensate others for their … misfortune, while they allow them to enjoy the fruits of their effort. This paper introduces fairness in a tax-benefit scheme … fairness test, whereas the Baltic and Anglo-Saxon countries (including the US) perform worst. Our paper provides a new way to …