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Inequity Aversion
Inequity aversion (IA) is the preference for fairness and resistance to incidental inequalities. The social sciences that study inequity aversion include sociology, economics, psychology, anthropology, and ethology. Human studies Inequity aversion research on humans mostly occurs in the discipline of economics though it is also studied in sociology. Research on inequity aversion began in 1978 when studies suggested that humans are sensitive to inequities in favor of as well as those against them, and that some people attempt overcompensation when they feel "guilty" or unhappy to have received an undeserved reward. A more recent definition of inequity aversion (resistance to inequitable outcomes) was developed in 1999 by Fehr and Schmidt. They postulated that people make decisions so as to minimize inequity in outcomes. Specifically, consider a setting with individuals who receive pecuniary outcomes ''xi''. Then the utility to person ''i'' would be given by :U_i(\) = x_i - \frac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Preference
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. Social preferences are studied extensively in behavioral and experimental economics and social psychology. Types of social preferences include altruism, fairness, reciprocity, and inequity aversion. The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's altruism, fairness and reciprocity concern between 1990 and 2010. More recently, there are growing amo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frans De Waal
Franciscus Bernardus Maria "Frans" de Waal (born October 29, 1948) is a Dutch primatologist and ethologist. He is the Charles Howard Candler Professor of Primate Behavior in the Department of Psychology at Emory University in Atlanta, Georgia, director of the Living Links Center at the Yerkes National Primate Research Center at Emory, and author of numerous books including ''Chimpanzee Politics'' (1982) and ''Our Inner Ape'' (2005). His research centers on primate social behavior, including conflict resolution, cooperation, inequity aversion, and food-sharing. He is a member of the United States National Academy of Sciences and the Royal Netherlands Academy of Arts and Sciences. Early life and education De Waal was born in 's-Hertogenbosch on October 29, 1948. He studied at the Dutch universities of Radboud University Nijmegen, University of Groningen, and Utrecht. In 1977, De Waal received his doctorate in biology from Utrecht University after training as a zoologist and ethol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sarah Brosnan
Sarah Brosnan is a researcher studying the development of cognitive processes that underlie cooperation and reciprocity. The focus of her work has been on how animals perceive "exchanged goods and services," as demonstrated by reciprocal interactions,. She has looked at both human and nonhuman primates as a way of understanding the evolution of cooperative and economic behaviors, specifically the topic of inequity aversion and the cooperative pulling paradigm. She works at Georgia State University in the Department of Psychology, and directs the university's Comparative Economics and Behavioral Studies Laboratory (CEBUS Lab). (Accessed April 2012) Selected publications * * * * ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capuchin Monkey
The capuchin monkeys () are New World monkeys of the subfamily Cebinae. They are readily identified as the " organ grinder" monkey, and have been used in many movies and television shows. The range of capuchin monkeys includes some tropical forests in Central America and South America as far south as northern Argentina. In Central America, where they are called white-faced monkeys ("carablanca"), they usually occupy the wet lowland forests on the Caribbean coast of Costa Rica and Panama and deciduous dry forest on the Pacific coast. Etymology The word "capuchin" derives from a group of friars named the Order of Friars Minor Capuchin, an offshoot from the Franciscans, who wear brown robes with large hoods. When Portuguese explorers reached the Americas in the 15th century, they found small monkeys whose coloring resembled these friars, especially when in their robes with hoods down, and named them capuchins. When the scientists described a specimen (thought to be a golden-bel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maximum Likelihood
In statistics, maximum likelihood estimation (MLE) is a method of estimating the parameters of an assumed probability distribution, given some observed data. This is achieved by maximizing a likelihood function so that, under the assumed statistical model, the observed data is most probable. The point in the parameter space that maximizes the likelihood function is called the maximum likelihood estimate. The logic of maximum likelihood is both intuitive and flexible, and as such the method has become a dominant means of statistical inference. If the likelihood function is differentiable, the derivative test for finding maxima can be applied. In some cases, the first-order conditions of the likelihood function can be solved analytically; for instance, the ordinary least squares estimator for a linear regression model maximizes the likelihood when all observed outcomes are assumed to have Normal distributions with the same variance. From the perspective of Bayesian infere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth Binmore
Kenneth George "Ken" Binmore, (born 27 September 1940) is an English mathematician, economist, and game theorist, a Professor Emeritus of Economics at University College London (UCL) and a Visiting Emeritus Professor of Economics at the University of Bristol. As a founder of modern economic theory of bargaining (with Nash and Rubinstein), he made important contributions to the foundations of game theory, experimental economics, evolutionary game theory and analytical philosophy. He took up economics after holding the Chair of Mathematics at the London School of Economics. The switch has put him at the forefront of developments in game theory. His other interests include political and moral philosophy, decision theory, and statistics. He has written over 100 scholarly papers and 14 books. Education Binmore studied mathematics at Imperial College London, where he was awarded a 1st class-honours BSc with a Governor's Prize, and later a PhD in mathematical analysis. Research ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhetoric
Rhetoric () is the art of persuasion, which along with grammar and logic (or dialectic), is one of the three ancient arts of discourse. Rhetoric aims to study the techniques writers or speakers utilize to inform, persuade, or motivate particular audiences in specific situations. Aristotle defines rhetoric as "the faculty of observing in any given case the available means of persuasion" and since mastery of the art was necessary for victory in a case at law, for passage of proposals in the assembly, or for fame as a speaker in civic ceremonies, he calls it "a combination of the science of logic and of the ethical branch of politics". Rhetoric typically provides heuristics for understanding, discovering, and developing arguments for particular situations, such as Aristotle's three persuasive audience appeals: logos, pathos, and ethos. The five canons of rhetoric or phases of developing a persuasive speech were first codified in classical Rome: invention, arrangement, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Performance-related Pay
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission. Many employers use this standards-based system for evaluating employees and for setting salaries. Standards-based methods have been in ''de facto'' use for centuries among commission-based sales staff: they receive a higher salary for selling more, and low performers do not earn enough to make keeping the job worthwhile even if they manage to keep the job. In effect, the salary would be re-evaluated up, or down, periodically (usually annually) based on the performance of the individual or team. The reward is the salary: with an expectation to be high on the pay band for high performance and low on the band for low performance. In comparison, the per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Equilibrium
In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the ( equilibrium) values of economic variables will not change. For example, in the standard text perfect competition, equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. But the concept of ''equilibrium'' in economics also applies to imperfectly competitive markets, where it takes the form of a Nash equilibrium. Understanding economic equili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Scandinavian Journal Of Economics
''The Scandinavian Journal of Economics'' was established as the ''Ekonomisk Tidskrift'' (in Swedish) in 1899 by David Davidson. It became ''The Swedish Journal of Economics'' in 1965 (in English) and then ''The Scandinavian Journal of Economics'' in 1976. Davidson was the editor until his retirement in 1939 at the age of 85, having run it virtually as a one-man operation. In its early history all articles were written in Swedish. The first article in English was printed in 1947. The journal published many important works by Gustaf Cassel, Knut Wicksell, Eli Heckscher, Gunnar Myrdal, and Erik Lindahl. It is owned by a non-profit association and published on its behalf by Wiley-Blackwell.Persson, Mats (1998) The First Century of The Scandinavian Journal of Economics, The Scandinavian Journal of Economics, Vol. 100, No. 1, 100th Anniversary Symposium According to the ''Journal Citation Reports'', the journal has a 2020 impact factor The impact factor (IF) or journal impact fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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