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Fehr, Ernst and Schmidt, Klaus M. ORCID logoORCID: https://orcid.org/0000-0002-5011-0828 (June 2005): The Economics of Fairness, Reciprocity and Altruism – Experimental Evidence and New Theories. Discussion Papers in Economics 2005-20 [PDF, 463kB]

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This paper surveys recent experimental and field evidence on the impact of concerns for fairness, reciprocity and altruism on economic decision making. It also reviews some new theoretical attempts to model the observed behavior.

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