@ARTICLE{26543120_26551655_2006, author = {Yury Avtonomov}, keywords = {, economic modeling, experimental economicsrational pursuit of self-interest}, title = {Modern Approaches to Economic Modeling of Fairness}, journal = {HSE Economic Journal }, year = {2006}, month = {4}, volume = {10}, number = {4}, pages = {620-637}, url = {https://ej.hse.ru/en/2006-10-4/26551655.html}, publisher = {}, abstract = {By now experimental economists have accumulated a vast array of data indicating that human behavior in certain experiments systematically refutes the core self-interest hypothesis of microeconomics, but can be instead explained by fairness and reciprocity concerns. This paper gives an overview of the theories and models developed to explain and predict such behavior, and assesses the relative strengths and weaknesses of various existing approaches.}, annote = {By now experimental economists have accumulated a vast array of data indicating that human behavior in certain experiments systematically refutes the core self-interest hypothesis of microeconomics, but can be instead explained by fairness and reciprocity concerns. This paper gives an overview of the theories and models developed to explain and predict such behavior, and assesses the relative strengths and weaknesses of various existing approaches.} }