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Would the right social preference model please stand up!

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  • Daruvala, Dinky
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    Abstract

    A number of competing social preference models have been developed inspired by the evidence from economic experiments. We test the relative performance of some of these models using an experimental design that is aimed at capturing pure distributional concerns in a multi-person setting. We find that the individuals in this study are heterogeneous, and that they do not follow any single notion of fairness or inequality aversion. In addition, the results suggest that efficiency concerns are not confined to students of economics, but are important to students of all disciplines.

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    File URL: http://www.sciencedirect.com/science/article/B6V8F-4XHM135-2/2/9126fa115bd7456c5d110331a220fdc0
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

    Volume (Year): 73 (2010)
    Issue (Month): 2 (February)
    Pages: 199-208

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    Handle: RePEc:eee:jeborg:v:73:y:2010:i:2:p:199-208

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    Web page: http://www.elsevier.com/locate/jebo

    Related research

    Keywords: Difference aversion Efficiency Inequality aversion Maximin criterion Social preferences;

    References

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    1. Ernst Fehr & Michael Naef & Klaus M. Schmidt, 2006. "Inequality Aversion, Efficiency, and Maximin Preferences in Simple Distribution Experiments: Comment," American Economic Review, American Economic Association, vol. 96(5), pages 1912-1917, December.
    2. Werner Güth & Hartmut Kliemt & Axel Ockenfels, . "Fairness Versus Efficiency - An Experimental Study of (Mutual) Gift Giving -," Papers on Strategic Interaction 2002-40, Max Planck Institute of Economics, Strategic Interaction Group.
    3. Fredrik Carlsson & Dinky Daruvala & Olof Johansson-Stenman, 2005. "Are People Inequality-Averse, or Just Risk-Averse?," Economica, London School of Economics and Political Science, vol. 72(3), pages 375-396, 08.
    4. John Kagel & Katherine Wolfe, 2001. "Tests of Fairness Models Based on Equity Considerations in a Three-Person Ultimatum Game," Experimental Economics, Springer, vol. 4(3), pages 203-219, December.
    5. James Andreoni & John Miller, 2002. "Giving According to GARP: An Experimental Test of the Consistency of Preferences for Altruism," Econometrica, Econometric Society, vol. 70(2), pages 737-753, March.
    6. Charness, Gary & Rabin, Matthew, 2000. "Social Preferences: Some Simple Tests and a New Model," Department of Economics, Working Paper Series qt46j0d6hb, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    7. Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
    8. Gary E. Bolton & Rami Zwick & Elena Katok, 1998. "Dictator game giving: Rules of fairness versus acts of kindness," International Journal of Game Theory, Springer, vol. 27(2), pages 269-299.
    9. Kritikos, Alexander & Bolle, Friedel, 2001. "Distributional concerns: equity- or efficiency-oriented?," Economics Letters, Elsevier, vol. 73(3), pages 333-338, December.
    10. Dufwenberg, M. & Kirchsteiger, G., 1998. "A Theory of Sequential Reciprocity," Discussion Paper 1998-37, Tilburg University, Center for Economic Research.
    11. Engelmann,Dirk & Strobel,Martin, 2002. "Inequality Aversion, Efficiency, and Maximin Preferences in Simple Distribution Experiments," Research Memorandum 015, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    12. Charness, Gary & Rabin, Matthew, 2002. "Understanding Social Preferences with Simple Tests," Department of Economics, Working Paper Series qt3d04q5sm, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    13. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, vol. 83(5), pages 1281-1302, December.
    14. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
    15. Guillaume R. Frechette & John H. Kagel & Steven Lehrer, 2000. "Bargaining in Legislatures: An Experimental Investigation of Open versus Closed Amendment Rules," Econometric Society World Congress 2000 Contributed Papers 1515, Econometric Society.
    16. Selten, Reinhard & Ockenfels, Axel, 1998. "An experimental solidarity game," Journal of Economic Behavior & Organization, Elsevier, vol. 34(4), pages 517-539, March.
    17. Gary E. Bolton & Axel Ockenfels, . "Self-centered fairness in games with more than tow players," Papers on Strategic Interaction 2002-42, Max Planck Institute of Economics, Strategic Interaction Group.
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    Citations

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    Cited by:
    1. Christoph Graf & Rudolf Vetschera & Yingchao Zhang, 2013. "Parameters of social preference functions: measurement and external validity," Theory and Decision, Springer, vol. 74(3), pages 357-382, March.
    2. Christian Thoeni & Simon Gaechter, 2011. "Peer Effects and Social Preferences in Voluntary Cooperation," Discussion Papers 2011-09, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    3. Christoph Bühren & Thorben C. Kundt, 2013. "Imagine Being a Nice Guy: A Note on Hypothetical vs. Incentivized Social Preferences," MAGKS Papers on Economics 201349, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    4. Christian Thöni & Simon Gaechter, 2014. "Peer Effects and Social Preferences in Voluntary Cooperation," CESifo Working Paper Series 4741, CESifo Group Munich.
    5. Simon Gächter & Christian Thöni, 2014. "Peer effects and social preferences in voluntary cooperation," Discussion Papers 2014-03, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    6. Weitzel, Utz & Urbig, Diemo & Desai, Sameeksha & Sanders, Mark & Acs, Zoltan, 2010. "The good, the bad, and the talented: Entrepreneurial talent and selfish behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 64-81, October.
    7. Bolle, Friedel & Liepmann, Hannah & Vogel, Claudia, 2012. "How much social insurance do you want? An experimental study," Journal of Economic Psychology, Elsevier, vol. 33(6), pages 1170-1181.

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