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Inequality Aversion and Performance in and on the Field

Torgler, Benno, Schaffner, Markus, Frey, Bruno, Schmidt, Sascha, & Dulleck, Uwe (2008) Inequality Aversion and Performance in and on the Field. RePEc. [Working Paper]

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Abstract

The experimental literature and studies using survey data have established that people care a great deal about their relative economic position and not solely, as standard economic theory assumes, about their absolute economic position. Individuals are concerned about social comparisons. However, behavioral evidence in the field is rare. This paper provides an empirical analysis, testing the model of inequality aversion using two unique panel data sets for basketball and soccer players. We find support that the concept of inequality aversion helps to understand how the relative income situation affects performance in a real competitive environment with real tasks and real incentives.

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ID Code: 32805
Item Type: Working Paper
Keywords: inequality aversion, relative income, positional concerns, envy, social comparison, performance, independent preferences
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > Economic Theory (140100) > Microeconomic Theory (140104)
Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > ECONOMETRICS (140300)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Deposited On: 21 Jun 2010 15:48
Last Modified: 05 Jan 2011 23:59

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