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• W2149672103 abstract "It has been standard in economic theory that agents are modeled as self-centered individuals pursuing their own material interest only. In recent years increasing evidence, however, from economic experiments in particular, suggests that subjects are also motivated by concerns for others. Although fairness has been taken to be a main explanatory variable for certain observed deviations of behavior from game theoretic predictions (cf. Fehr and Schmidt, 2001), fairness is not defined in a consistent way in the economics literature. Fehr and Schmidt (1999) modeling fairness as self-centered inequity aversion assume inequality to be the relevant notion of inequity. Rabin (1993), in turn, employs beliefs about opponents’ intentions in characterizing fairness, extending the notion of fair behavior to include reciprocal fairness (Camerer, forthcoming; Fehr et al. 1996, Fehr etal. 2000). Many authors, on the other hand, fail to specify how fairness is defined. Equality is often implicitly assumed to be the reference point for fairness judgments (cf. the survey by Fehr and Schmidt, 2001). Sometimes, however, determining a reference point is regarded as more complicated, and authors ask their experimental subjects to state their perception of fairness (e.g. Gächter and Riedl, 2001; Babcock at al., 1995; Kahneman et al., 1986 a, Kahneman et al., 1986 b; Yaari and Bar-Hillel, 1984)." @default.
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• W2149672103 date "2002-01-01" @default.
• W2149672103 modified "2023-10-16" @default.
• W2149672103 title "The Impact of Fairness on Decision Making — An Analysis of Different Video Experiments" @default.
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• W2149672103 doi "https://doi.org/10.1007/978-1-4615-0917-2_13" @default.
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