We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property … the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the … the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property … the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the … the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property … achieve the most efficient ownership allocation starting from different initial conditions. However, in contrast to the … the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property … the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the … the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property … the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the … the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …

We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …