Testing and Modeling Fairness Motives
The advent of laboratory experiments in economics over the last few decades has produced an enormous literature devoted to describing, testing and modeling economic and social behavior. Measured by publications and citations, the development of social preference models to capture decisions motivated by fairness and other social criteria, is one of the success stories in this literature. But with this success, and maybe even because of it, controversies have arisen about what the models can and cannot do. In this note, we comment on some of these debates. Our main theme is that descriptive models of behavior should be judged with respect to their usefulness. This is often neglected, partly because there are no accepted measures and tests for the usefulness of a model, while standard procedures to test whether a model is true are readily available. A model that does not capture a 'grain of truth' is unlikely to be useful; however, the relationship is not monotonic in that a 'truer' model is not necessarily a more useful model.
Volume (Year): 0 (2009)
Issue (Month): 13 (November)
|Contact details of provider:|| Postal: Sonnemannstraße 9-11, 60314 Frankfurt am Main|
Phone: 069 154008-0
Web page: http://www.frankfurt-school-verlag.de/
More information through EDIRC
References listed on IDEAS
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.:
- Gary Bolton & Jordi Brandts & Axel Ockenfels, 1998.
"Measuring Motivations for the Reciprocal Responses Observed in a Simple Dilemma Game,"
Springer, vol. 1(3), pages 207-219, December.
- Bolton, G.E. & Brandts, J. & Ockenfels, A., 1997. "Measuring Motivations for the Reciprocal Responses Observed in a Simple Dilemma Game," UFAE and IAE Working Papers 400.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
When requesting a correction, please mention this item's handle: RePEc:rmm:journl:v:0:y:2009:i:13. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Friederike Pförtner)
If references are entirely missing, you can add them using this form.