A Theory of Fairness, Competition, and Cooperation.¶
Fehr, E., & Schmidt, K. M. (1999). A Theory of Fairness, Competition, and Cooperation. Quarterly Journal of Economics, 114(3), 817-868.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Other-Regarding Preferences
- Competing formal models each propose a specific functional form for the cross-argument weights — inequity-aversion models use two parameters for the disutility of advantageous and disadvantageous inequality, others use three, others a different two — and each can be evaluated against the same paradigm suite.
This sourceTwo-parameter inequity-aversion utility u_i = x_i − α·max(x_j−x_i,0) − β·max(x_i−x_j,0), with self-interest recovered at α=β=0.
- Competing formal models each propose a specific functional form for the cross-argument weights — inequity-aversion models use two parameters for the disutility of advantageous and disadvantageous inequality, others use three, others a different two — and each can be evaluated against the same paradigm suite.
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