this desire conflicts with other strong motivationsa typical reaction is to trade off fairness against these other concerns …. Inequ(al)ity aversion allows capturing such trade off considerations in various ways(Bolton, 1991, Bolton and Ockenfels …, 1998 and 2000, Fehr and Schmidt, 1999,are examples).Such trade off analysis measures how far one deviates from fairness …

The Trust Game describes a situation where mutually beneficial trade is endangered by opportunistic exploitation. In … competing outcomes should be expected, i.e. whether or not banks can indeed promote trade. …

Though the social choice of social institutions or social results is impossible there is, strictly speaking, no social … choice individual evaluations of social institutions or results trivially are possible. Such individual evaluations can be … deemed liberal either because they emphasize political institutions that embody liberal values (political liberalism) or …