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Chapter 8 The Economics of Fairness, Reciprocity and Altruism Experimental Evidence and New Theories
Fehr, Ernst; Schmidt, Klaus M. - In: Handbook of the economics of giving, altruism and …, (pp. 615-691). 2006
Most economic models are based on the self-interest hypothesis that assumes that material self-interest exclusively motivates all people. Experimental economists have gathered overwhelming evidence in recent years, however, that systematically refutes the self-interest hypothesis, suggesting...
Persistent link: https://www.econbiz.de/10014023675
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The economics of fairness, reciprocity and altruism : experimental evidence and new theories ; chapter written for the Handbook of reciprocity, gift-giving and altruism
Fehr, Ernst; Schmidt, Klaus M. - 2005 - This version: June 6, 2005
Persistent link: https://www.econbiz.de/10010371081
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The rapid evolution of homo economicus : brief exposure to neoclassical assumptions increases self-interested behavior
Ifcher, John; Zarghamee, Homa S. - 2016
Economics students have been shown to exhibit more selfishness than other students. Because the literature identifies the impact of long-term exposure to economics instruction (e.g., taking a course), it cannot isolate the specific course content responsible; nor can selection, peer effects, or...
Persistent link: https://www.econbiz.de/10011528153
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The behavioural mechanisms of voluntary cooperation in WEIRD and non-WEIRD societies
Weber, Till O.; Beranek, Benjamin; Gächter, Simon; … - 2021
We provide a framework to uncover behavioural mechanisms driving potential cross-societal differences in voluntary cooperation. We deploy our framework in one-shot public goods experiments in the US and the UK, and in Morocco and Turkey. We find that cooperation is higher in the US and UK than...
Persistent link: https://www.econbiz.de/10012549763
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The economics of fairness, reciprocity and altruism : experimental evidence and new theories ; chapter written for the Handbook of reciprocity, gift-giving and altruism
Fehr, Ernst; Schmidt, Klaus M. - 2005 - This version: June 6, 2005
This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.
Persistent link: https://www.econbiz.de/10010440439
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Homo Æqualis : A Cross-Society Experimental Analysis of Three Bargaining Games
Barr, Abigail; Ensminger, Jean; Henrich, Joe; Wallace, Chris - 2009
between theory and data: uncertainty and preferences relating to acts of vengeance may have influenced play in the Ultimatum …
Persistent link: https://www.econbiz.de/10014203011
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Behavioral Game Theory : Thinking, Learning and Teaching
Camerer, Colin; Ho, Teck; Chong, Kuan - 2002
This paper describes a parametric approach to weakening rationality assumptions in game theory to fit empirical data … better. The central features of game theory are: The concept of a game (players, strategies, information, timing, outcomes … consistency and foresight properties, while retaining much of the structure and hence the precision of game theory. One parameter …
Persistent link: https://www.econbiz.de/10014121757
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Rational Reasoning or Adaptive Behavior? Evidence from Two-Person Beauty Contest Games
Grosskopf, Brit; Nagel, Rosemarie - 2008
from game theory is because subjects are rational, but doubt that others are rational as well, compared to the argument …
Persistent link: https://www.econbiz.de/10014034691
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Chapter 10. Behavioral Game Theory Experiments and Modeling
Camerer, Colin F.; Ho, Teck-Hua - In: Handbook of game theory with economic applications : …, (pp. 517-573). 2015
This chapter reviews recent experimental data testing game theory and behavioral models that have been inspired to …
Persistent link: https://www.econbiz.de/10014025449
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Social status and risk-taking in investment decisions
Lindner, Florian; Kirchler, Michael; Rosenkranz, Stephanie - 2019
A pervasive feature in the finance industry is relative performance, which can include extrinsic (money), intrinsic (self-image), and reputational (status) motives. In this paper, we model a portfolio decision with two assets and investigate how reputational motives (i.e., the public...
Persistent link: https://www.econbiz.de/10012001790