findings of selected fairness models which include social preferences change when equity aversionʺ is integrated into the … tendency towards convergence (inequity aversion) and towards divergence (equity aversion) in the macro economy. On the … conclusions concerning economic policy in different areas. -- economic welfare ; inequity aversion ; fairness concepts …

payment. We find that the consumers exhibit considerable fairness towards the workers by buying from the firm with the higher … average wages despite its significant crowding-out effects on consumers' fairness concerns. Abolishing a minimum wage crowds … in consumers' fairness concerns, but crowding in is not sufficient to avoid overall negative effects on the workers …

, we compare a situation that does not consider fairness to a situation in which we allow for inequity-averse consumers. We … show that the algorithm learns to charge different, revenue-maximizing prices and simultaneously increase fairness in terms …