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The Intrinsic Value of Decision Rights
Bartling, Björn; Fehr, Ernst; Herz, Holger - 2021
Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal – at least partly – from an assumed positive...
Persistent link: https://www.econbiz.de/10013315775
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The Intrinsic Value of Decision Rights
Bartling, Björn; Fehr, Ernst; Herz, Holger - CESifo - 2013
Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal – at least partly – from an assumed positive...
Persistent link: https://www.econbiz.de/10010660133
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The Provision of Public Goods with Positive GroupInterdependencies
Güth, Werner; Sääksvuori, Lauri - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010
This article examines the nature of human behavior in a nested socialdilemma referred to as the Spillover Game. Players are divided into twogroups with positive production interdependencies. Based on theoreticallyderived opportunistic, local, and global optima, our experimental...
Persistent link: https://www.econbiz.de/10009022157
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Beyond Procedural Equity and Reciprocity
Chlaß, Nadine; Güth, Werner; Miettinen, Topi - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Most research in economics models agents somehow motivated by out-comes. Here, we model agents motivated by procedures instead, whereprocedures are dened independently of an outcome. To that end, wedesign procedures which yield the same expected outcomes or carry thesame information on other's...
Persistent link: https://www.econbiz.de/10009022177
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What Makes a Price Fair? An Experimental Study of Transaction Experience and Endogenous Fairness Views
Herz, Holger - 2016
People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet … play an important role in shaping perceptions of fairness. Buyers used to high market prices, for example, are more likely …-dependent fairness preferences - either based on endogenous fairness reference points or based on shifts in salience - that can account …
Persistent link: https://www.econbiz.de/10012987400
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More than Thirty Years of Ultimatum Bargaining Experiments: Motives, Variations, and a Survey of the Recent Literature
Güth, Werner; Kocher, Martin G. - CESifo - 2013
Take-it or leave-it offers are probably as old as mankind. Our objective here is, first, to provide a, probably subjectively-colored, recollection of the initial ultimatum game experiment, its motivation and the immediate responses. Second, we discuss important extensions of the standard...
Persistent link: https://www.econbiz.de/10010877980
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Rules (of Bidding) to Generate Equal Stated Profits- An Axiomatic Approach -
Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010
Although one may hope to achieve equality of stated profits withoutenforcing it, one may not trust in such voluntary equality seeking andrather try to impose rules (of bidding) guaranteeing it.[...]
Persistent link: https://www.econbiz.de/10009022159
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Procedurally Fair Collective Provision : Its Requirements and Experimental Functionality
Güth, Werner - 2014
This paper derives and justifies a procedurally fair bidding mechanism and reviews experiments that apply the mechanism … to public projects provision. In the experiments, not all parties benefit from provision, and the projects' costs can be …
Persistent link: https://www.econbiz.de/10013060963
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Do Preferences and Biases Predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions
Backes-Gellner, Uschi - 2018
Evidence suggests that acquiring human capital is related to better life outcomes, yet young peoples' decisions to invest in or stop acquiring human capital are still poorly understood. We investigate the role of time and reference-dependent preferences in such decisions. Using a data set that...
Persistent link: https://www.econbiz.de/10012924444
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Cooperation and Mistrust in Relational Contracts
Herz, Holger - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10012981595