Let the market decide: an experimental study of competition and fairness
Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade trigger...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Munich
CESifo
2014
|
| Schriftenreihe: | CESifo working paper
4831 : Category 13, Behavioural economics |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade trigger significantly less punishment if the buyer uses a competitive auction to determine the terms of trade than if she uses her authority to dictate the same terms directly. Our results inform the debate on the fairness of market outcomes by showing that the use of a competitive procedure can, by itself, affect how people judge unequal distributive outcomes. |
| Beschreibung: | 49 S. graph. Darst. |
Internformat
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| 520 | 8 | |a Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade trigger significantly less punishment if the buyer uses a competitive auction to determine the terms of trade than if she uses her authority to dictate the same terms directly. Our results inform the debate on the fairness of market outcomes by showing that the use of a competitive procedure can, by itself, affect how people judge unequal distributive outcomes. | |
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Datensatz im Suchindex
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| author | Bartling, Björn 1974- Grieder, Manuel Zehnder, Christian 1976- |
| author_GND | (DE-588)129466069 (DE-588)130443999 |
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| id | DE-604.BV042120747 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T01:13:14Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-027560987 |
| oclc_num | 896876666 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-19 DE-BY-UBM DE-20 DE-188 |
| owner_facet | DE-12 DE-521 DE-19 DE-BY-UBM DE-20 DE-188 |
| physical | 49 S. graph. Darst. |
| psigel | ebook |
| publishDate | 2014 |
| publishDateSearch | 2014 |
| publishDateSort | 2014 |
| publisher | CESifo |
| record_format | marc |
| series | CESifo working paper |
| series2 | CESifo working paper |
| spelling | Bartling, Björn 1974- Verfasser (DE-588)129466069 aut Let the market decide an experimental study of competition and fairness Björn Bartling ; Manuel Grieder ; Christian Zehnder Munich CESifo 2014 49 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier CESifo working paper 4831 : Category 13, Behavioural economics Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade trigger significantly less punishment if the buyer uses a competitive auction to determine the terms of trade than if she uses her authority to dictate the same terms directly. Our results inform the debate on the fairness of market outcomes by showing that the use of a competitive procedure can, by itself, affect how people judge unequal distributive outcomes. Grieder, Manuel Verfasser aut Zehnder, Christian 1976- Verfasser (DE-588)130443999 aut CESifo working paper 4831 : Category 13, Behavioural economics (DE-604)BV013978326 4831 http://www.cesifo-group.de/de/ifoHome/search/result.html?main.query=4831 Verlag kostenfrei Volltext |
| spellingShingle | Bartling, Björn 1974- Grieder, Manuel Zehnder, Christian 1976- Let the market decide an experimental study of competition and fairness CESifo working paper |
| title | Let the market decide an experimental study of competition and fairness |
| title_auth | Let the market decide an experimental study of competition and fairness |
| title_exact_search | Let the market decide an experimental study of competition and fairness |
| title_full | Let the market decide an experimental study of competition and fairness Björn Bartling ; Manuel Grieder ; Christian Zehnder |
| title_fullStr | Let the market decide an experimental study of competition and fairness Björn Bartling ; Manuel Grieder ; Christian Zehnder |
| title_full_unstemmed | Let the market decide an experimental study of competition and fairness Björn Bartling ; Manuel Grieder ; Christian Zehnder |
| title_short | Let the market decide |
| title_sort | let the market decide an experimental study of competition and fairness |
| title_sub | an experimental study of competition and fairness |
| url | http://www.cesifo-group.de/de/ifoHome/search/result.html?main.query=4831 |
| volume_link | (DE-604)BV013978326 |
| work_keys_str_mv | AT bartlingbjorn letthemarketdecideanexperimentalstudyofcompetitionandfairness AT griedermanuel letthemarketdecideanexperimentalstudyofcompetitionandfairness AT zehnderchristian letthemarketdecideanexperimentalstudyofcompetitionandfairness |