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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | How exposure to markets can favor inequity-averse preferences |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Economic Behavior & Organization |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0167-2681 |
| Volume | 84 |
| Number | 1 |
| Page Range | 174 - 181 |
| Date | 2012 |
| Abstract Text | This paper shows how market exposure can support the evolution of non-individualisticpreferences. In a group, one agent is randomly selected to divide an exogenous endowment.Endowment shares are used for either consumption or market exchange with external merchants.As a more equal endowment distribution attenuates the scope of merchants’ price discrimination,we argue that inequity-averse preferences may lead to a higher utility of consumption and sosurvive evolutionary pressures. This effect arises from an opportunity to create and extractinformation rents. We offer a new explanation to the empirical finding that a society's exposure tomarkets has a positive effect on its members’ sociality. |
| Digital Object Identifier | 10.1016/j.jebo.2012.07.008 |
| Other Identification Number | merlin-id:7250 |
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