Fairness und ihr Preis

Andrea Schneider and Klaus Zimmermann

No 101/2010, Working Paper from Helmut Schmidt University, Hamburg

Abstract: Based on the premise that fairness is different from equity and that it is primarily used in in-formal contexts we present an economic approach to fairness. Discussing the results of behav-ioral economics reveals the experience that people do not accept a monetary offer even if that collides with the rationale that more money means higher utility. The economic aspects of fairness are discussed in two ways: first, Varian´s idea of envy-free allocations in a general-equilibrium context are exposed briefly, and second, we concentrate on the implications of fairness defined via producer and consumer rents. This in-depth exposition focuses on private as well as public goods and concludes with a comparative analysis of fairness in the private and public spheres.

Keywords: fairness; welfare; private goods; public goods (search for similar items in EconPapers)
JEL-codes: D63 H41 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2010-06-07
New Economics Papers: this item is included in nep-ger, nep-hpe and nep-upt
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