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In this paper we show that a simple model of fairness preferences explains major experimental regularities of common pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without sanctioning possibilities inefficient excess appropriation is...
Persistent link: https://www.econbiz.de/10010315203
contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become …
Persistent link: https://www.econbiz.de/10010261212