Equity Concerns are Narrowly Framed: Why Money Cannot Buy Time
نویسندگان
چکیده
What are individuals’ preferences over the payoffs of others? We show that individuals aim to achieve equity among other agents but that they narrowly bracket their equity concerns — they equalize time budgets or monetary budgets at the expense of equalizing overall budgets. Indeed, individuals believe that achieving equity within narrow brackets is more socially appropriate than achieving overall equity. Furthermore, we find that individuals care more about achieving equity in time than equity in money. These preferences suggest a parsimonious explanation for why certain transactions that turn money into time are deemed repugnant. In addition, all of our results persist in the presence of payoff uncertainty. ∗Exley: clexley@hbs.edu, Harvard Business School; Kessler: judd.kessler@wharton.upenn.edu, The Wharton School
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تاریخ انتشار 2017