Arbeitspapier

Market experience is a reference point in judgments of fairness

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People's desire for fair transactions can play an important role in negotiations, organizations, and markets. In this paper, we show that markets can also shape what people consider to be a fair transaction. We propose a simple and generally-applicable model of path-dependent fairness preferences, in which past experiences shape preferences, and we experimentally test the model's predictions. We find that previous exposure to competitive pressure substantially and persistently reduces subjects' fairness concerns, making them more likely to accept transactions in which they receive a low share of the surplus. Consistent with our theory, we also find that past experience has little effect on subjects' inclinations to treat others unfairly.

Sprache
Englisch

Erschienen in
Series: Working Paper ; No. 128

Klassifikation
Wirtschaft
Bargaining Theory; Matching Theory
Microeconomic Behavior: Underlying Principles
Design of Experiments: Laboratory, Individual
Thema
Social Preferences
Reference Points
Fairness
Bargaining
Gerechtigkeit
Verhandlungstheorie
Neue politische Ökonomie

Ereignis
Geistige Schöpfung
(wer)
Herz, Holger
Taubinsky, Dmitry
Ereignis
Veröffentlichung
(wer)
University of Zurich, Department of Economics
(wo)
Zurich
(wann)
2013

DOI
doi:10.5167/uzh-79516
Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Herz, Holger
  • Taubinsky, Dmitry
  • University of Zurich, Department of Economics

Entstanden

  • 2013

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