The DOI matches its Crossref record.
Does Fairness Prevent Market Clearing? An Experimental Investigation
Open accessAbstract
This paper reports the results of an experiment that was designed to test the impact of fairness on market prices. Prices were determined in a one-sided oral auction, with buyers as price-makers. Upon acceptance of an offer, sellers determined the quality of the good. Buyers offered prices that were substantially above the market-clearing level and expected sellers to respond with high quality levels. This expectation was, on average, confirmed by the behavior of sellers. These results provide, therefore, experimental support for the fair wage-effort theory of involuntary unemployment.
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Citations
Cited by
A Theory of Fairness, Competition, and Cooperation
Fehr, E., & Schmidt, K. M. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399556151 · Cited by 11,264
Self-citationCooperation and Punishment in Public Goods Experiments
Fehr, E., & Gächter, S. (2000) · American Economic Review · doi:10.1257/aer.90.4.980 · Cited by 4,547
Self-citationCollective action and the evolution of social norms.
Ostrom, E. (2000) · Journal of Economic Perspectives · doi:10.1257/jep.14.3.137 · Cited by 4,195
Oxytocin increases trust in humans
Kosfeld, M., Heinrichs, M., Zak, P. J., Fischbacher, U., & Fehr, E. (2005) · Nature · doi:10.1038/nature03701 · Cited by 3,690
Fehr, E., & Fischbacher, U. (2003) · Nature · doi:10.1038/nature02043 · Cited by 3,475
Self-citation
Metadata
- Authors
- Fehr, E., Kirchsteiger, G., & Riedl, A.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1993-05-01
- Volume
- 108
- Issue
- 2
- Pages
- 437-459
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2101311377
- Cited by
- 1,506
- References
- 0
- FWCI
- 15.32
- Type
- journal article
- Language
- en
- Open access
- green
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- Fehr, E., Kirchsteiger, G., & Riedl, A. (1993). Does Fairness Prevent Market Clearing? An Experimental Investigation. The Quarterly Journal of Economics. https://doi.org/10.2307/2118338
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
