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ResearchPaper
2007

Fairness, efficiency, risk, and time

Seidel, Gerald

Abstract (English)

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.

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Notes

Publication license

Publication series

Hohenheimer Diskussionsbeiträge; 281

Published in

Other version

Faculty

Faculty of Business, Economics and Social Sciences

Institute

Institut für Volkswirtschaftslehre (bis 2010)

Examination date

Supervisor

Edition / version

Citation

DOI

ISSN

ISBN

Language

English

Publisher

Publisher place

Classification (DDC)

330 Economics

Original object

Free keywords

Pro-social behavior Utility maximization Time preference Risk attitudes

Standardized keywords (GND)

Prosoziales Verhalten Nutzenmaximierung Risikoverhalten Zeitpräferenz

Sustainable Development Goals

BibTeX

@techreport{Seidel2007, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5127}, author = {Seidel, Gerald}, title = {Fairness, efficiency, risk, and time}, year = {2007}, school = {Universität Hohenheim}, series = {Hohenheimer Diskussionsbeiträge}, }

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