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concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these … of economic policies such as minimum wage laws. -- Fairness ; contracts ; wages ; effort ; experiments …
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In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...
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Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...
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