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Economic behaviour and fairness perceptions: microeconomic analysis
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Paul, Maureen (2004) Economic behaviour and fairness perceptions: microeconomic analysis. PhD thesis, University of Warwick.
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Official URL: http://webcat.warwick.ac.uk/record=b1757734~S15
Abstract
This thesis is primarily concerned with the microeconomic implications of fairness considerations. It contributes to the existing literature by providing new insights into the behavioural consequences of fairness perceptions and it continues to challenge conventional wisdom by presenting further evidence that indicate that fairness considerations affect marginal choices.
Chapter 1 introduces the thesis and provides a summary of the subsequent chapters and a description of the data employed.
Chapter 2 presents the first known empirical analysis of the determinants of the fairncss-of-pay perceptions for employees in the United Kingdom. Interestingly, the findings reveal that demographic characteristics significantly influence individuals’ perceptions of how fairly they are paid. This suggests that to successfully tackle pay discrimination, it is not enough to concentrate only on wages. Policies should also target cultural and other institutional factors.
Chapter 3 uses both theory and evidence to explore the relationship between fairness perceptions of the wealth distribution and hours of work. It is the first study known at this time to carry out such an investigation. The empirical analysis uncovers a strong positive relationship between hours of work and fairness perceptions of the wealth distribution. It is proposed that as the wealth distribution becomes more unfair, there is a greater need for voluntary work. As a result, individuals increase the time spent on voluntary activities at the expense of labour market work. This relationship suggests that an unfair wealth distribution can have adverse effects on economic activity.
Chapter 4 examines the link between private savings and fairness perceptions of the wealth distribution. At this time, it the first study known to do so. Based on a simple theoretical model, the empirical analysis reveals that savings and fairness perceptions of the wealth distribution arc, on the whole, positively related. It is argued that an unfair wealth distribution encourages individuals to reduce savings and engage in conspicuous consumption as they seek to improve their economic status. Given the importance of savings for future consumption and growth, it is useful for policymakers to be aware of this link.
Chapter 5 concludes and proposes directions for future research.
Item Type: | Thesis (PhD) | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||
Library of Congress Subject Headings (LCSH): | Pay equity, Microeconomics -- Mathematical models, Wealth -- Mathematical models, Economics -- Sociological aspects | ||||
Official Date: | June 2004 | ||||
Dates: |
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Institution: | University of Warwick | ||||
Theses Department: | Department of Economics | ||||
Thesis Type: | PhD | ||||
Publication Status: | Unpublished | ||||
Supervisor(s)/Advisor: | Oswald, Andrew J. , Walker, Ian,1954- | ||||
Sponsors: | Department of Economics | ||||
Extent: | xv, 259 leaves : illustrations | ||||
Language: | eng |
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