An Experimental Comparison of the Fairness Models by Bolton and Ockenfels and by Fehr and Schmidt

Dirk Engelmann & Martin Strobel
In this note we present an experiment to compare the two competing fairness theories by Bolton / Ockenfels and Fehr / Schmidt. For most experiments that these theories have previously been applied to, they make similar predictions so that it is difficult to compare their predictive accuracy. We designed a very simple experiment that induces opposing predictions made by both theories. We find that if the maximization of total payoff is in line with the...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.