Fehr, E., &Schmidt, K. (2001). Theories of fairness and reciprocity-evidence and economic applications. Advances in Economics and Econometrics.
Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests that many people are strongly motivated by concerns for fairness and reciprocity. Moreover, several theoretical Papers have been written showing that the observed phenomena can be explained ...



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