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evidence that they also encourage reciprocity. Keyword(s): Reciprocity; Retribution; Fairness; Non-binding contracts …-shot experiments were conducted with and without the possibility of making non-binding contracts beforehand. We find that retribution … is much more compelling than reciprocity. Although contracts are not binding they increase trust, but we do not find …
Persistent link: https://www.econbiz.de/10014141311
We examine, experimentally and theoretically, how communication within a partnership may mitigate the problem (highlighted in contract theory) of hidden action. What is the form and content of the communication? Which model of decision-making can capture the impact of communication? We consider...
Persistent link: https://www.econbiz.de/10005645507
Intention-based models of reciprocity argue that people assess kindness by measuring the intended consequences of … alternatives and realized payoffs. Aggregate results suggest that intended consequences only weakly matter for negative reciprocity … invariant to intended consequences of actual behavior. -- Intentions ; reciprocity ; kindness ; gender …
Persistent link: https://www.econbiz.de/10009557630
The perception of fairness of an offer in ultimatum type games may not only depend upon the distributional aspects of … ultimatum type game that affects perception of fairness. Two games are put to test. In both games, a proposer has two available …
Persistent link: https://www.econbiz.de/10014221817
incompleteness and relational nature of most employment contracts and (b) the existence of reference-dependent fairness concerns … among a substantial share of the population into account. Theory shows and experiments confirm that, even if fairness … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers’ wages, confront these …
Persistent link: https://www.econbiz.de/10008765247
usually have incomplete information about fairness norms held by the other party - fairness norms that affect the other party …'s willingness to pay (WTP) or willingness to accept (WTA). Importantly, these fairness norms may depend on how strongly the … participants can be divided into three groups corresponding to three different fairness norms: negative types whose WTP and WTA are …
Persistent link: https://www.econbiz.de/10011633871
In 'Delivering Justice: Programme of Action to Strengthen the Rule of Law at the National and International Levels', the Secretary-General of the United Nations, argued that the rule of law involves more than the state and its institutions: it “is at the heart of the social contract between...
Persistent link: https://www.econbiz.de/10013085608
This paper reviews the literature on policies aiming to improve the rule of law and the operation of a legal system. It takes a bottom up perspective of clients seeking access to justice and uses transaction costs on the market for justice as a criterion to evaluate justice policies. Most...
Persistent link: https://www.econbiz.de/10014203922
usually have incomplete information about fairness norms held by the other party - fairness norms that affect the other party …'s willingness to pay (WTP) or willingness to accept (WTA). Importantly, these fairness norms may depend on how strongly the … participants can be divided into three groups corresponding to three different fairness norms: negative types whose WTP and WTA are …
Persistent link: https://www.econbiz.de/10011662178
We experimentally investigate multiple notions of equity in ultimatum bargaining with asymmetric outside options. Building on the generalized equity principle formulated by Selten (1978), we derive three different equity rules that can explain 43% of all offers. Our within-subject design further...
Persistent link: https://www.econbiz.de/10013074889