Measuring Inequity Aversion in a Heterogeneous Population Using Experimental Decisions and Subjective Probabilities

We combine choice data in the ultimatum game with the expectations of proposers elicited by subjective probability questions to estimate a structural model of decision making under uncertainty. The model, estimated using a large representative sample of subjects from the Dutch population, allows bot...

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Bibliographic Details
Published in:	Econometrica Vol. 76; no. 4; pp. 815 - 839
Main Authors:	Bellemare, Charles, Kröger, Sabine, van Soest, Arthur
Format:	Journal Article
Language:	English
Published:	Oxford, UK Econometric Society 01.07.2008 Blackwell Publishing Ltd Blackwell
Subjects:	Applications Decision making Decision making models Dictators Economic expectations Economic forecasting models Economic models Exact sciences and technology Expectations Game theory Heterogeneity Inequality inequity aversion Inference from stochastic processes; time series analysis Insurance, economics, finance Mathematics Modeling P values Preferences Probability Probability and statistics Probability theory and stochastic processes Return on investment Sciences and techniques of general use Socioeconomic status Statistics Stochastic processes Studies subjective expectations Subjectivity Transponders Ultimatum game Uncertainty Vocational education Netherlands Decision making Prediction Large sample Prediction theory Statistical estimation Probability distribution Preference theory Stochastic process Subjective probability Concave function Statistical method Heterogeneity Increasing function inequity aversion Ultimatum game Structural model Filtering theory Expectation Econometrics subjective expectations Payoff function
ISSN:	0012-9682, 1468-0262
Online Access:	Get full text
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