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Theories of Fairness and Reciprocity - Evidence and Economic Applications

Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2001

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...

Persistent link: https://www.econbiz.de/10005656392

Contractual Incompleteness and the Nature of Market Interactions

Brown, Martin; Falk, Armin; Fehr, Ernst - C.E.P.R. Discussion Papers - 2002

We provide experimental evidence that contractual incompleteness, ie, the absence of third party enforcement of workers’ effort or the quality of the good traded causes a fundamental change in the nature of market interactions. If contracts are complete the vast majority of trades are...

Persistent link: https://www.econbiz.de/10005661770

Fairness, Incentives and Contractual Incompleteness

Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2001

We show that concerns for fairness may have dramatic consequences for the optimal provision of incentives in a moral hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are concerned with fairness. Conversely, contracts that...

Persistent link: https://www.econbiz.de/10005792499

Fairness and Incentives in a Multi-Task Principle-Agent Model

Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2004

This Paper reports on a two-task principal-agent experiment in which only one task is contractible. The principal can either offer a piece-rate contract or a (voluntary) bonus to the agent. Bonus contracts strongly outperform piece rate contracts. Many principals reward high efforts on both...

Persistent link: https://www.econbiz.de/10005114195

Pricing and Trust

Huck, Steffen; Ruchala, Gabriele K.; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2007

driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and …

Persistent link: https://www.econbiz.de/10005792278

Trust and Trustworthiness Among Europeans: South-North Comparison

Bornhorst, Fabian; Ichino, Andrea; Schlag, Karl; … - C.E.P.R. Discussion Papers - 2004

This Paper discovers significant differences between southern and northern Europeans in a dynamic version of the ‘trust … game’ played by Ph.D. students from different nationalities at the European University Institute. Our version of the trust … payback for a transfer received), Southerners are being punished for their own low level of trust (i.e. having a low …

Persistent link: https://www.econbiz.de/10005067472

Belief in a Just World and Redistributive Politics

Bénabou, Roland; Tirole, Jean - C.E.P.R. Discussion Papers - 2005

International surveys reveal wide differences between the views held in different countries concerning the causes of wealth or poverty and the extent to which people are responsible for their own fate. At the same time, social ethnographies and experiments by psychologists demonstrate...

Persistent link: https://www.econbiz.de/10005504312

Forbidden Fruits: The Political Economy of Science, Religion, and Growth

Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015

We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...

Persistent link: https://www.econbiz.de/10011262883

Effects of religiosity on social behaviour: Experimental evidence from a representative sample of Spaniards

Brañas-Garza, Pablo; Espín, Antonio M.; Neuman, Shoshana - C.E.P.R. Discussion Papers - 2013

paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a …, bargaining behaviour and sense of fairness/equality, trust, and positive reciprocity. Three dimensions of religiosity are …

Persistent link: https://www.econbiz.de/10011083371

Persistent effects of empires: Evidence from the partitions of Poland

Grosfeld, Irena; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2013

We use spatial regression discontinuity analysis to test whether the historical partition of Poland among three empires—Russia, Austria-Hungary, and Prussia—has a persistent effect on political outcomes in contemporary Poland and to examine the channels of this influence. We find that the...

Persistent link: https://www.econbiz.de/10011083639