منابع مشابه
Contracts and Inequity Aversion
Inequity aversion is a special form of other regarding preferences and captures many features of reciprocal behavior, an apparently robust pattern in human nature. Using this concept we analyze the Moral Hazard problem and derive several results which differ from conventional contract theory. Our three key insights are: First, inequity aversion plays a crucial role in the design of optimal cont...
متن کاملInequity Aversion Revisited
We provide the first systematic study of the robustness of parameter estimates for the Fehr-Schmidt (1999) model of inequity aversion with respect to (i) the occurrence of efficiency concerns; (ii) the scale of payoffs; and (iii) the game used (i.e., cross-game consistency). Moreover, we provide evidence of a bias in the estimates that occurs if one does not correct for strategic considerations...
متن کاملJoint Contract under Inequity Aversion
The standard contract theory adopts the traditional hypothesis of pure self-interest. However, a series of game experiments have proven that people are not any self-interest but also inequity averse. Then, how will the inequity aversion influence the optimal contract for multiple agents? This paper attempts to obtain new theoretical insights by incorporating inequity aversion into the standard ...
متن کاملInformational Inequity Aversion and Performance∗
In labor markets, some individuals have, or believe to have, less data on the determinants of success than others, e.g., due to differential access to technology or role models. We provide experimental evidence on how informational differences translate into performance differences in competitive environments. In a laboratory tournament setting, we varied subjects’ information about the potenti...
متن کاملThe Rhetoric of Inequity Aversion
We read two papers on Inequity Aversion by E. Fehr & K. Schmidt. We examine the structure and quality of their arguments and the use they make of rhetoric in their papers. I wish to thank 10 friends who read an earlier version of this pamphlet, and who helped me focus my arguments and moderate my excessively outraged tone.
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2006
ISSN: 1556-5068
DOI: 10.2139/ssrn.904316