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Contribution Details
| Type | Conference or Workshop Paper |
| Scope | Discipline-based scholarship |
| Published in Proceedings | Yes |
| Title | How exposure to markets can favor inequity-averse preferences |
| Organization Unit | |
| Authors |
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| Presentation Type | paper |
| Item Subtype | Original Work |
| Refereed | No |
| Status | Published in final form |
| Language |
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| Event Title | Conference on Rationality and Irrationality: Game-Theoretic and Other Perspectives |
| Event Type | conference |
| Event Location | Stockholm |
| Event Start Date | June 3 - 2011 |
| Event End Date | June 4 - 2011 |
| Abstract Text | This paper shows how non-individualistic preferences can be individual fitness maximizing in market-integrated societies. In the model, individuals share an endowment, which is used for consumption and/or purchase of goods on the external market. We show that inequity aversion about endowment distribution can be an optimal response to merchants' price discrimination. Then, assuming that increased consumption means increased individual fitness, we argue that evolutionary selection can favor inequity-averse preferences. We also argue that our model can explain the empirical finding of Henrich et al. (2004) about the positive effect of a society's exposure to markets on its members' sociality. |
| Official URL | http://www.hhs.se/Education/PhD/PhDE/Documents/How%20Exposure.pdf |
| Related URLs | |
| Digital Object Identifier | 10.1016/j.jebo.2012.07.008 |
| Other Identification Number | merlin-id:6125 |
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