RT Generic
T1 Fairness, efficiency, risk, and time
A1 Seidel,Gerald
WP 2008/01/21
AB We present a model of a 2-person-2-period-economy with specific (human) capital. Although the individuals are purely selfish, the outcome is seemingly guided by pro-social behavior. We find in our model economy that fairness and efficiency are positively related whereas risk aversion seems to have no major impact on the seemingly fair behavior. A rise in the time preference increases the disadvantaged subject?s aspiration for equal outcomes but reduces the advantaged subject?s willingness to accept them.
K1 Prosoziales Verhalten
K1 Nutzenmaximierung
K1 Risikoverhalten
K1 Zeitpräferenz
PP Hohenheim
PB Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
UL http://opus.uni-hohenheim.de/volltexte/2008/229