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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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Publication license
Publication series
Hohenheimer Diskussionsbeiträge; 281
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Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institut für Volkswirtschaftslehre (bis 2010)
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Language
English
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Classification (DDC)
330 Economics
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Free keywords
Standardized keywords (GND)
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},
}