An experimental comparison of the fairness models by Bolton and Ockenfels and by Fehr and Schmidt

Dirk Engelmann and Martin Strobel

No 2000,28, SFB 373 Discussion Papers from Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes

Abstract: 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 decision predicted by Fehr and Schmidt, almost all subjects decide accordingly, whereas if it is in line with the prediction by Bolton and Ockenfels, decisions are dispersed.

Date: 2000
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Citations: View citations in EconPapers (6)

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Working Paper: An Experimental Comparison of the Fairness Models by Bolton and Ockenfels and by Fehr and Schmidt (2000)
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