Abstract

http://ssrn.com/abstract=1128066
 
 

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Looking Awkward when Winning and Foolish when Losing: Inequity Aversion and Performance in the Field


Benno Torgler


Yale University - Yale Center for International and Area Studies

Markus Schaffner


Queensland University of Technology

Bruno S. Frey


CREMA; Zeppelin University

Sascha L. Schmidt


EBS Universität für Wirtschaft und Recht - Institute for Sports, Business & Society

April 2008

IEW Working Paper No. 369

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 inequity aversion using two unique panel data sets for basketball and soccer players. We find support that the concept of inequity aversion helps to understand how the relative income situation affects performance in a real competitive environment with real tasks and real incentives.

Number of Pages in PDF File: 34

Keywords: inequity aversion, relative income, positional concerns, envy, social comparison, performance, interdependent preferences

JEL Classification: D000, D600, 8222, 9210, L830

working papers series


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Date posted: May 5, 2008  

Suggested Citation

Torgler, Benno and Schaffner, Markus and Frey, Bruno S. and Schmidt, Sascha L., Looking Awkward when Winning and Foolish when Losing: Inequity Aversion and Performance in the Field (April 2008). Available at SSRN: http://ssrn.com/abstract=1128066 or http://dx.doi.org/10.2139/ssrn.1128066

Contact Information

Benno Torgler (Contact Author)
Yale University - Yale Center for International and Area Studies ( email )
P.O. Box 208206
New Haven, CT 06520-8206
United States
HOME PAGE: http://www.crema-research.ch/fellowseiten/torgler.htm
Markus Schaffner
Queensland University of Technology ( email )
GPO Box 2434
Brisbane, Queensland 4000
Australia
Bruno S. Frey
CREMA ( email )
Südstrasse 11
Zurich, CH 8008
Switzerland
Zeppelin University ( email )
Am Seemooser Horn 20
Friedrichshafen, Lake Constance 88045
Germany
Sascha L. Schmidt
EBS Universität für Wirtschaft und Recht - Institute for Sports, Business & Society ( email )
Gustav-Stresemann-Ring 3
65189 Wiesbaden, Hessen 65189
Germany
0611 7102 2064 (Phone)
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