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Article: Estimating a parsimonious model of inequality aversion in stackelberg duopoly experiments
| Title | Estimating a parsimonious model of inequality aversion in stackelberg duopoly experiments | ||||
|---|---|---|---|---|---|
| Authors | |||||
| Issue Date | 2010 | ||||
| Publisher | Blackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/OBES | ||||
| Citation | Oxford Bulletin Of Economics And Statistics, 2010, v. 72 n. 5, p. 669-686 How to Cite? | ||||
| Abstract | In the Stackelberg duopoly experiments in Huck et al. (2001), nearly half of the followers' behaviours are inconsistent with conventional prediction. We use a test in which the conventional self-interested model is nested as a special case of an inequality aversion model. Maximum likelihood methods applied to the Huck et al. (2001) data set reject the self-interested model. We find that almost 40% of the players have disadvantageous inequality aversion that is statistically different from zero and economically significant, but advantageous inequality aversion is relatively unimportant. These estimates provide support for a more parsimonious model with no advantageous inequality aversion. © Blackwell Publishing Ltd and the Department of Economics, University of Oxford, 2010. | ||||
| Persistent Identifier | http://hdl.handle.net/10722/139811 | ||||
| ISSN | 2021 Impact Factor: 2.518 2020 SCImago Journal Rankings: 1.131 | ||||
| ISI Accession Number ID |
Funding Information: The authors thank Vai-Lam Mui, Hans Normann, participants of the Econometric Society North American Summer Meeting (Pittsburgh) and the Econometric Society European Meeting (Milan), an anonymous referee and two editors for helpful comments, Steffen Huck for providing the data, Philip Ng for research assistance and Robert Canwell for editorial help. Financial support from the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong is gratefully acknowledged. | ||||
| References |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Lau, SHP | en_HK |
| dc.contributor.author | Leung, F | en_HK |
| dc.date.accessioned | 2011-09-23T05:56:36Z | - |
| dc.date.available | 2011-09-23T05:56:36Z | - |
| dc.date.issued | 2010 | en_HK |
| dc.identifier.citation | Oxford Bulletin Of Economics And Statistics, 2010, v. 72 n. 5, p. 669-686 | en_HK |
| dc.identifier.issn | 0305-9049 | en_HK |
| dc.identifier.uri | http://hdl.handle.net/10722/139811 | - |
| dc.description.abstract | In the Stackelberg duopoly experiments in Huck et al. (2001), nearly half of the followers' behaviours are inconsistent with conventional prediction. We use a test in which the conventional self-interested model is nested as a special case of an inequality aversion model. Maximum likelihood methods applied to the Huck et al. (2001) data set reject the self-interested model. We find that almost 40% of the players have disadvantageous inequality aversion that is statistically different from zero and economically significant, but advantageous inequality aversion is relatively unimportant. These estimates provide support for a more parsimonious model with no advantageous inequality aversion. © Blackwell Publishing Ltd and the Department of Economics, University of Oxford, 2010. | en_HK |
| dc.language | eng | en_US |
| dc.publisher | Blackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/OBES | en_HK |
| dc.relation.ispartof | Oxford Bulletin of Economics and Statistics | en_HK |
| dc.rights | This is the peer reviewed version of the following article: Oxford Bulletin Of Economics And Statistics, 2010, v. 72 n. 5, p. 669-686, which has been published in final form at https://dx.doi.org/10.1111/j.1468-0084.2010.00592.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. | - |
| dc.title | Estimating a parsimonious model of inequality aversion in stackelberg duopoly experiments | en_HK |
| dc.type | Article | en_HK |
| dc.identifier.email | Lau, SHP: laushp@hkucc.hku.hk | en_HK |
| dc.identifier.authority | Lau, SHP=rp01073 | en_HK |
| dc.description.nature | postprint | - |
| dc.identifier.doi | 10.1111/j.1468-0084.2010.00592.x | en_HK |
| dc.identifier.scopus | eid_2-s2.0-77955932753 | en_HK |
| dc.identifier.hkuros | 194119 | en_US |
| dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-77955932753&selection=ref&src=s&origin=recordpage | en_HK |
| dc.identifier.volume | 72 | en_HK |
| dc.identifier.issue | 5 | en_HK |
| dc.identifier.spage | 669 | en_HK |
| dc.identifier.epage | 686 | en_HK |
| dc.identifier.eissn | 1468-0084 | - |
| dc.identifier.isi | WOS:000281216500005 | - |
| dc.publisher.place | United Kingdom | en_HK |
| dc.identifier.scopusauthorid | Lau, SHP=7401596159 | en_HK |
| dc.identifier.scopusauthorid | Leung, F=36442719400 | en_HK |
| dc.identifier.citeulike | 7757860 | - |
| dc.identifier.issnl | 0305-9049 | - |