A theory of fairness, competition and cooperation-英文文献.pdf

A Theory of Fairness, Competition, and Cooperation Ernst Fehr* and Klaus M. Schmidt** First Version: July 1997 This version: July 1998 *Institute for Empirical Research in Economics ** Department of Economics University of Zürich University of Munich Blümlisalpstrasse 10 Ludwigstrasse 28 (Rgb) CH-8006 Zürich D-80539 München Tel: +41-1-6343709 Tel: +49-89-2180-2250 Fax: +41-1-63 44907 Fax: +49-89-2180-3510 E-mail: efehr@iew.unizh.ch klaus.schmidt@lrz.uni-muenchen.de http://www.unizh.ch/iew/grp/fehr/index.html http://www.vwl.uni-muenchen. de/ls_schmidt/index.html _____________________________________________________________________________ We would like to thank seminar participants at the Universities of Bonn, Berlin, Harvard and Princeton, the European Summer Symposium on Economic Theory 1997 at Gerzensee (Switzerland) and the ESA conference in Mannheim for helpful comments and suggestions. We are particularly grateful to three excellent referees and to Drew Fudenberg and John Kagel for their insightful comments. The first author also gratefully acknowledges support from the Swiss National Science Foundation (project number 12-43590.95) and the Network on the Evolution of Preferences and Social Norms of the MacArthur Foundation. Abstract There is strong evidence that people exploit their bargaining power in competitive markets but not in bilateral bargaining situations. There is also strong evidence that people exploit free-riding opport