Fairness, Errors and the Power of Competition

Fischbacher, Urs; Fong, Christina M.; Fehr, Ernst

Fairness, Errors and the Power of Competition

Dateien

Fairness_errors_power.pdfGröße: 326.03 KBDownloads: 868

Datum

2009

Autor:innen

Fischbacher, Urs

Fong, Christina M.

Fehr, Ernst

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Journal of Economic Behavior and Organization. 2009, 72(1), pp. 527-545. Available under: doi: 10.1016/j.jebo.2009.05.021

Zusammenfassung

In this paper, we investigate the effects of competition on bargained outcomes. We show that the neglect of either fairness concerns or decision errors will prevent a satisfactory understanding of how competition affects bargaining. We conducted experiments which demonstrate that introducing a small amount of competition to a bilateral ultimatum game by adding just one competitor induces large behavioral changes among responders and proposers, causing large changes in accepted offers. Models that assume that all people are self-interested and fully rational do not adequately explain these changes. We show that a model which combines heterogeneous fairness concerns with decision errors correctly predicts the comparative static effects of changes in competition. Moreover, the combined model is remarkably good at predicting the entire distribution of offers in many different competitive situations.

Fachgebiet (DDC)

330 Wirtschaft

Zitieren

ISO 690

FISCHBACHER, Urs, Christina M. FONG, Ernst FEHR, 2009. Fairness, Errors and the Power of Competition. In: Journal of Economic Behavior and Organization. 2009, 72(1), pp. 527-545. Available under: doi: 10.1016/j.jebo.2009.05.021

BibTex

@article{Fischbacher2009Fairn-12034,
  year={2009},
  doi={10.1016/j.jebo.2009.05.021},
  title={Fairness, Errors and the Power of Competition},
  number={1},
  volume={72},
  journal={Journal of Economic Behavior and Organization},
  pages={527--545},
  author={Fischbacher, Urs and Fong, Christina M. and Fehr, Ernst}
}

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Universitätsbibliographie

Ja