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This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and …
Persistent link: https://www.econbiz.de/10010427418
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
Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence … decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining … only fairness norm to be taken into account. More equity norms than equality exist, including inequality of payoffs. Since …
Persistent link: https://www.econbiz.de/10010317630
the fairness and unfairness of allocations in three different scenarios (a Dictator game, an Ultimatum game, and a Trust … same session we elicit again their principles regarding the fairness and unfairness of allocations in the same three …, norms that appear abstract and universal take into account the bargaining power of the two sides. The strong side bends the …
Persistent link: https://www.econbiz.de/10010286903
Several division rules have been proposed in the literature regarding how anarbiter should divide a bankrupt estate. Different rules satisfy different sets ofaxioms, but all rules satisfy claims boundedness which requires that no contributorbe given more than her initial contribution. This paper...
Persistent link: https://www.econbiz.de/10005866654
? Fairness norms mightplay an important role in wage-setting decisions. We will explore theoretically and experimentallypossible … fairness considerations of the involved parties. …
Persistent link: https://www.econbiz.de/10005866944
incompleteness and relational nature of most employment contracts and (ii) 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/10003793473
In two-person generosity games the proposer's agreement payoff is exogenously given whereas that of the responder is endogenously determined by the proposer's choice of the pie size. Earlier results for two-person generosity games show that participants seem to care more for efficiency than for...
Persistent link: https://www.econbiz.de/10003952438
the fairness and unfairness of allocations in three different scenarios (a Dictator game, an Ultimatum game, and a Trust … same session we elicit again their principles regarding the fairness and unfairness of allocations in the same three …, norms that appear abstract and universal take into account the bargaining power of the two sides. The strong side bends the …
Persistent link: https://www.econbiz.de/10009545257
We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts … and predominantly choose the bonus contracts. Our results are consistent with recently developed theories of fairness …, which offer important new insights into the interaction of contract choices, fairness and incentives. …
Persistent link: https://www.econbiz.de/10010371080