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Title:Testing the framework of other-regarding preferences PDF Logo
Authors:Levati, M. Vittoria
Nicholas, Aaron
Rai, Birendra
Issue Date:2011
Series/Report no.:Jena economic research papers 2011,041
Abstract:We assess the empirical validity of the overall theoretical framework of other-regarding preferences by focusing on those preference axioms that are common to all the prominent theories of outcome-based other-regarding preferences. This common set of preference axioms leads to a testable implication: the strict preference ranking of self over a finite number of alternatives lying on any straight line in the space of material payoffs to self and other will be single-peaked. The extent of single-peakedness varies from a high of 79% to a low of 54% across our treatments that are based on dictator and trust games. Positively and/or negatively other-regarding subjects are significantly less likely to report single-peaked rankings relative to self-regarding subjects. We delineate the potential reasons for violations of single-peakedness and discuss the implications of our findings for theoretical modeling of other-regarding preferences.
Subjects:other-regarding preferences
social preferences
decision making under risk
single-peaked preferences
experiments
JEL:C70
C91
D63
D81
Document Type:Working Paper
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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