Arbeitspapier
Fairness and the optimal allocation of ownership rights
We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and that subjects attain the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the property rights approach, the most efficient ownership structure is joint ownership. These results are neither consistent with the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory of inequity aversion that focuses on the interaction between selfish and fair players.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1467
- Klassifikation
-
Wirtschaft
- Thema
-
ownership rights
double moral hazard
fairness
reciprocity
incomplete contracts
Eigentumsrechtstheorie
Allokation
Joint Venture
Experiment
Moral Hazard
Gerechtigkeit
reciprocity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fehr, Ernst
Kremhelmer, Susanne
Schmidt, Klaus M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Fehr, Ernst
- Kremhelmer, Susanne
- Schmidt, Klaus M.
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2005
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