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Does Wealth Affect Fairness Considerations? Author info | Abstract | Publisher info | Download info | Related research | Statistics Olivier Armantier ()
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The influence of wealth on fairness considerations is analyzed in a series of ultimatum game experiments where proposers and receivers are given large and widely unequal initial endowments. Subjects initially demonstrate a concern for fairness. With time however, behavior becomes inconsistent with both fairness and subgame perfection. Clear evidence of learning is detected for both proposers and receivers in the estimation of a general reinforcement learning model. The results also indicate that, unlike their opponents, poor subjects i) are essentially influenced by their own experience rather than past best responses; ii) lose their ability to punish greedy bevhavior, and iii) learn to expect less.
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Paper provided by SUNY-Stony Brook, Department of Economics in its series Department of Economics Working Papers with number
01-05.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Antoni Bosch-Domènech & Joaquim Silvestre, 2003.
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