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The Economics of Fairness, Reciprocity and Altruism – Experimental Evidence and New Theories

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  • Fehr, Ernst
  • Schmidt, Klaus M.

Abstract

This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.

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Paper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 726.

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Date of creation: Jun 2005
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Handle: RePEc:lmu:muenec:726

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Keywords: Behavioural Economics; Other-regarding Preferences; Fairness; Reciprocity; Altruism; Experiments; Incentives; Contracts; Competition;

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