Competition

Volkswirtschaftslehre

Theories of Fairness and Reciprocity – Evidence and Economic Applications

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material...

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Volkswirtschaftslehre

Why Social Preferences Matter – The Impact of Non-Selfish Motives on Competition, Cooperation and Incentives

A substantial number of people exhibit social preferences, which means they are not solely motivated by material self-interest but also care...

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Volkswirtschaftslehre

Fairness, Errors and the Power of Competition

One of the most basic questions in economics concerns the effects of competition on market prices. We show that the neglect of both fairness concerns...

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Volkswirtschaftslehre

A Theory of Fairness, Competition and Cooperation

There is strong evidence that people exploit their bargaining power in competitive markets but not in bilateral bargaining situations. There is also...

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