The Measurement and Thoery Test of Fairness: An Experimental Study
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| Title | The Measurement and Thoery Test of Fairness: An Experimental Study
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| Author | Chen Yefeng，Zhou Yean，Lian Hongquan，Zuo Congying and Ye Hang |
| Organization | School of Economics，Zhejiang University; School of Economics, Renmin University of China; Law School, Shantou Univeristy |
| Email | lenggone@gmail.com；zhouyean@ruc.edu.cn；hqlian@stu.edu.cn；zuocong@126.com；yehang@china.com |
| Key Words | Fairness; Inequality Aversion; Parameter of Aversion to Advantageous Inequality; Parameter of Aversion to Disadvantageous Inequality; Experimental Economics; Public Goods Game |
| Abstract | Focusing on the inequality aversion model of Fehr and Schmidt(1999) and employing a advancing front method of experimental economics, in this paper we offered a empirical research of quantitative analysis on fairnss from individual micro-level. Using strategy method design of Dannenberg et al.(2007), we elicited the parameters both of aversion to advantageous inequality and the aversion to disadvantageous inequality. Thus, after classifying the subjects into “fair group”, “mixed group” and “egoistic group” according the parameters of aversion to advantageous inequality, we assessed the predictive power of the model of inequality aversion in the public goods game and the public goods game with punishment. Our results show both in the standard public goods game and the public goods game with punishment, whether it is with or without informtion, and regardless of high or low cost of punishment, the model of Fehr and Schmidt (1999) are not supported by the experimental data of this article. |
| Serial Number | WP549 |
| Time | 2013-11-20 |
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