Fairness in the laboratory: a literature review
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Title
Fairness in the laboratory: a literature reviewAuthor (s)
Tutor/Supervisor; University.Department
García-Gallego, AuroraDate
2018-09-17Publisher
Universitat Jaume IAbstract
In the last decades, quite a lot of experiments dealing with fairness have been published. This review summarizes the evidence. Our aim is to understand the importance of fairness on subjects’ decision making process ... [+]
In the last decades, quite a lot of experiments dealing with fairness have been published. This review summarizes the evidence. Our aim is to understand the importance of fairness on subjects’ decision making process in some specific contexts. For that purpose, in this dissertation we review literature trying to find evidence of fairness motivations on subjects, and we decide to focus our attention on three groups of experiments, concretely bargaining, public goods and market experiments. As regards bargaining experiments, both in the ultimatum game and the dictator game subjects offer positive and significantly high shares of the available amount, around 30%-40% and 20%-30% respectively, even though in the dictator game proposals cannot be rejected. Subjects do not only care about their own payoff and situation, but also about their peers. In this sense, property rights are crucial for explaining subjects’ decision making. In the case of public goods experiments, positive and substantial contributions to the public good are observed, which are on average between 40%-60% of the total endowment. However, repetition leads to a gradual reduction on contributions, which is clearly cut by introducing a punishment option, even if this is costly for subjects. As for market experiments, employers offer wages well above the market-clearing level and workers respond with high effort levels. Nonetheless, the way effort is determined (endogenously or exogenously) strongly affects fairness enforcement decisions on subjects. [-]
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Description
Treball Final de Màster Universitari en Economia / Master in Economics. Codi: SRN015. Curs acadèmic 2017-2018
Type
info:eu-repo/semantics/masterThesisRights
info:eu-repo/semantics/openAccess
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