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The Economics of Fairness, Reciprocity and Altruism - Experimental Evidence and New Theories

Fehr, Ernst; Schmidt, Klaus M. - 2005

Chapter written for the Handbook of Reciprocity, Gift-Giving and Altruism …

Persistent link: https://www.econbiz.de/10010334040

Theories of Fairness and Reciprocity. Evidence and Economic Applications

Fehr, Ernst; Schmidt, Klaus M. - 2001

reciprocity. Moreover, several theoretical papers have been written showing that the observed phenomena can be explained in a …

Persistent link: https://www.econbiz.de/10010427343

Fairness, Incentives and Contractual Incompleteness

Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2001

We show that concerns for fairness may have dramatic consequences for the optimal provision of incentives in a moral hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are concerned about fairness. Conversely, contracts that...

Persistent link: https://www.econbiz.de/10010427345

The Economics of Fairness, Reciprocity and Altruism – Experimental Evidence and New Theories

Fehr, Ernst; Schmidt, Klaus M. - 2005

This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and …

Persistent link: https://www.econbiz.de/10010427418

Fairness and the Optimal Allocation of Ownership Rights

Fehr, Ernst; Kremhelmer, Susanne; Schmidt, Klaus M. - 2005

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and that subjects attain the most efficient ownership allocation despite starting...

Persistent link: https://www.econbiz.de/10010427435

Theories of Fairness and Reciprocity – Evidence and Economic Applications

Fehr, Ernst; Schmidt, Klaus - CESifo - 2000

reciprocity. Moreover, several theoretical papers have been written showing that the observed phenomena can be explained in a …

Persistent link: https://www.econbiz.de/10005094414

Psychological Foundations of Incentives

Fehr, Ernst; Falk, Armin - CESifo - 2002

During the last two decades economists have made much progress in understanding incentives, contracts and organisations. Yet, they constrained their attention to a very narrow and empirically questionable view of human motivation. The purpose of this paper is to show that this narrow view of...

Persistent link: https://www.econbiz.de/10005051546

On Reputation: A Microfoundation of Contract Enforcement and Price Rigidity

Brown, Martin; Fehr, Ernst; Zehnder, Christian - Schweizerische Nationalbank (SNB) - 2008

We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...

Persistent link: https://www.econbiz.de/10005069892

Social norms and human cooperation

Fehr, Ernst; Fischbacher, Urs - EconWPA - 2004

The existence of social norms is one of the big unsolved problems in social cognitive science. Although no other concept is invoked more frequently in the social sciences, we still know little about how social norms are formed, the forces determining their content, and the cognitive and...

Persistent link: https://www.econbiz.de/10005076756

The Dark Side of Personality: Anti-Sociality Increases Strategic Game Play

Engelmann, Jan; Schmid, Basil; Chumbley, Justin; Fehr, Ernst - 2018

personality on investor trust and trustee reciprocity in the presence relative to the absence of the investor’s option to punish … levels of investor trust and trustee reciprocity, while there is a significant increase in both behaviors when punishment was … counterparts. The reliability of the strategic effects of anti-social personality during trust, reciprocity and punishment strongly …

Persistent link: https://www.econbiz.de/10011819525