A tractable model of reciprocity and fairness

• 成果类型: Article
• 署名作者: Cox, James C.; Friedman, Daniel; Gjerstad, Steven
• 署名单位: Purdue University System; Purdue University; University System of Georgia; Georgia State University; University of California System; University of California Santa Cruz
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2006.05.001
• 发表日期: 2007
• 页码: 17-45
• 关键词: Experimental economics; game theory; ordered probit; RECIPROCITY; altruism

摘要

We introduce a parametric model of other-regarding preferences in which my emotional state determines the marginal rate of substitution between my own and others' payoffs, and thus my subsequent choices. In turn, my emotional state responds to relative status and to the kindness or unkindness of others' choices. Structural estimations of this model with six existing data sets demonstrate that other-regarding preferences depend on status, reciprocity, and perceived property rights. (c) 2006 Elsevier Inc. All rights reserved.