全球智库信息集成服务系统(G2TT): What Makes a Price Fair? An Experimental Analysis of Transaction Experience and Endogenous Fairness Views

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22728
来源ID	Working Paper 22728
	What Makes a Price Fair? An Experimental Analysis of Transaction Experience and Endogenous Fairness Views
	Holger Herz; Dmitry Taubinsky
发表日期	2016-10-10
出版年	2016
语种	英语
摘要	People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of fairness. Buyers used to high market prices, for example, are more likely to perceive high prices as fair than buyers used to low market prices. Similarly, employees used to high wages are more likely to perceive low wages as unfair. Our data further allows us to decompose this history dependence into the effects of pure observation vs. the experience of payoff-relevant outcomes. We propose two classes of models of path-dependent fairness preferences—either based on endogenous fairness reference points or based on shifts in salience—that can account for our data. Structural estimates of both types of models imply a substantial deviation from existing history-independent models of fairness. Our results have implications for price discrimination, labor markets, and dynamic pricing.
主题	Econometrics ; Experimental Design ; Microeconomics ; Labor Economics ; Industrial Organization ; Market Structure and Firm Performance
URL	https://www.nber.org/papers/w22728
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/580401
推荐引用方式 GB/T 7714	Holger Herz,Dmitry Taubinsky. What Makes a Price Fair? An Experimental Analysis of Transaction Experience and Endogenous Fairness Views. 2016.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w22728.pdf（950KB）	智库出版物		限制开放	CC BY-NC-SA	浏览