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The Demand for Social Approval and Status as a Motivation to Give

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  • Jeroen van de Ven

Abstract

The aim of this paper is to explain gift giving as due to a demand for social approval and status. In a simple framework we are able to account for a number of stylized facts. These are that gift giving is often reciprocal, that gifts tend to be inadequate, and that gift giving is sometimes reduced after a monetary compensation is offered. The implication for the interaction between gift giving and the market institution is that implementing price incentives in a nonmarket environment can be welfare-decreasing.

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Bibliographic Info

Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 158 (2002)
Issue (Month): 3 (September)
Pages: 464-

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200209)158:3_464:tdfsaa_2.0.tx_2-t

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References

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  1. Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
  2. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November.
  3. Arnott, Richard & Stiglitz, Joseph E, 1991. "Moral Hazard and Nonmarket Institutions: Dysfunctional Crowding Out or Peer Monitoring?," American Economic Review, American Economic Association, vol. 81(1), pages 179-90, March.
  4. Kranich Laurence, 1994. "Gift Equilibria and Pareto Optimality Reconsidered," Journal of Economic Theory, Elsevier, vol. 64(1), pages 298-300, October.
  5. Gachter, Simon & Fehr, Ernst, 1999. "Collective action as a social exchange," Journal of Economic Behavior & Organization, Elsevier, vol. 39(4), pages 341-369, July.
  6. 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.
  7. Goeree, Jacob K. & Holt, Charles A. & Laury, Susan K., 2002. "Private costs and public benefits: unraveling the effects of altruism and noisy behavior," Journal of Public Economics, Elsevier, vol. 83(2), pages 255-276, February.
  8. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
  9. George A. Akerlof, 1997. "Social Distance and Social Decisions," Econometrica, Econometric Society, vol. 65(5), pages 1005-1028, September.
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Cited by:
  1. Principe, Kristine E. & Eisenhauer, Joseph G., 2009. "Gift-giving and deadweight loss," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 215-220, March.
  2. Petros Sekeris & Jean-Philippe Platteau, 2010. "On the Feasibility of Power and Status Ranking in Traditional Setups," Post-Print halshs-00122421, HAL.
  3. Gerlinde Fellner & Gabriele K. Lünser, 2008. "Cooperation in local and global groups," Department of Economics Working Papers wuwp122, Vienna University of Economics, Department of Economics.
  4. Dipankar Purkayastha, 2004. "A theory of reciprocal gifts," Atlantic Economic Journal, International Atlantic Economic Society, vol. 32(4), pages 312-319, December.

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