The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
ERC: A Theory of Equity, Reciprocity, and Competition
Abstract
We demonstrate that a simple model, constructed on the premise that people are motivated by both their pecuniary payoff and their relative payoff standing, organizes a large and seemingly disparate set of laboratory observations as one consistent pattern. The model is incomplete information but nevertheless posed entirely in terms of directly observable variables. The model explains observations from games where equity is thought to be a factor, such as ultimatum and dictator, games where reciprocity is thought to play a role, such as the prisoner's dilemma and gift exchange, and games where competitive behavior is observed, such as Bertrand markets. (JEL C78, C90, D63, D64, H41)
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Citations
Cites
Trust, Reciprocity, and Social History
Berg, J., Dickhaut, J., & McCabe, K. (1995) · Games and Economic Behavior · doi:10.1006/game.1995.1027 · Cited by 5,548
Rational cooperation in the finitely repeated prisoners' dilemma
Kreps, D. M., Milgrom, P., Roberts, J., & Wilson, R. (1982) · Journal of Economic Theory · doi:10.1016/0022-0531(82)90029-1 · Cited by 2,494
Preferences, property rights, and anonymity in bargaining games.
Hoffman, E., McCabe, K., Shachat, K., & Smith, V. (1994) · Games and Economic Behavior · doi:10.1006/game.1994.1056 · Cited by 1,674
When Social Outcomes Aren′t Fair: The Effect of Causal Attributions on Preferences
Blount, S. (1995) · Organizational Behavior and Human Decision Processes · doi:10.1006/obhd.1995.1068 · Cited by 814
Cited by
Gender Differences in Preferences
Croson, R., & Gneezy, U. (2009) · Journal of Economic Literature · doi:10.1257/jel.47.2.448 · Cited by 5,694
Beyond Markets and States: Polycentric Governance of Complex Economic Systems
Ostrom, E. (2010) · American Economic Review · doi:10.1257/aer.100.3.641 · Cited by 4,529
Fehr, E., & Fischbacher, U. (2003) · Nature · doi:10.1038/nature02043 · Cited by 3,475
The neural basis of economic decision-making in the Ultimatum Game.
Sanfey, A. G., Rilling, J. K., Aronson, J. A., Nystrom, L. E., & Cohen, J. D. (2003) · Science · doi:10.1126/science.1082976 · Cited by 3,375
Fairness and retaliation: the economics of reciprocity
Fehr, E., & Gächter, S. (2000) · Journal of Economic Perspectives · doi:10.1257/jep.14.3.159 · Cited by 3,239
Metadata
- Authors
- Bolton, G. E., & Ockenfels, A.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2000-03-01
- Volume
- 90
- Issue
- 1
- Pages
- 166-193
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2135410596
- Cited by
- 5,378
- References
- 4
- FWCI
- 480.66
- Type
- journal article
- Language
- en
- Open access
- closed
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