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Relative Injustice Aversion

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  • Moreno-Garrido, Luis José Blas

    () (Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica)

Abstract

I propose a new utility function based on the relative aversion to injustice to explain why, in classical bargaining games, classical equilibria do not hold when money is not windfall, but it is result of the e ffort.

Suggested Citation

  • Moreno-Garrido, Luis José Blas, 2013. "Relative Injustice Aversion," QM&ET Working Papers 13-4, University of Alicante, D. Quantitative Methods and Economic Theory, revised 27 Jul 2015.
  • Handle: RePEc:ris:qmetal:2013_004
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    References listed on IDEAS

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    More about this item

    Keywords

    Distribution; Equity; Justice; Altruism; Property Rights;

    JEL classification:

    • D30 - Microeconomics - - Distribution - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • P14 - Economic Systems - - Capitalist Systems - - - Property Rights

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