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Is fairness in the eye of the beholder? An impartial spectator analysis of justice
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Cited by:
- Alexander W Cappelen & Johanna Mollerstrom & Bjørn-Atle Reme & Bertil Tungodden, 2022.
"A Meritocratic Origin of Egalitarian Behaviour,"
The Economic Journal, Royal Economic Society, vol. 132(646), pages 2101-2117.
- Cappelen, Alexander W. & Mollerstrom, Johanna & Reme, Bjørn-Atle & Tungodden, Bertil, 2019. "A Meritocratic Origin of Egalitarian Behavior," Discussion Paper Series in Economics 9/2019, Norwegian School of Economics, Department of Economics.
- Cappelen, Alexander W. & Möllerström, Johanna & Reme, Bjørn-Atle & Tungodden, Bertil, 2019. "A Meritocratic Origin of Egalitarian Behavior," Working Paper Series 1277, Research Institute of Industrial Economics.
- Konow, James, 2008. "The Moral High Ground: An Experimental Study of Spectator Impartiality," MPRA Paper 18558, University Library of Munich, Germany.
- Tan, Fangfang & Xiao, Erte, 2018.
"Third-party punishment: Retribution or deterrence?,"
Journal of Economic Psychology, Elsevier, vol. 67(C), pages 34-46.
- Fangfang Tan & Erte Xiao, 2014. "Third-Party Punishment: Retribution or Deterrence?," Working Papers tax-mpg-rps-2014-05, Max Planck Institute for Tax Law and Public Finance.
- Fangfang Tan & Erte Xiao, 2019. "Third-Party Punishment: Retribution or Deterrence?," Monash Economics Working Papers 06-18, Monash University, Department of Economics.
- Daniel Müller & Sander Renes, 2021.
"Fairness views and political preferences: evidence from a large and heterogeneous sample,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 56(4), pages 679-711, May.
- Müller, Daniel & Renes, Sander, 2020. "Fairness views and political preferences: evidence from a large and heterogeneous sample," Munich Reprints in Economics 84715, University of Munich, Department of Economics.
- Konow, James & Saijo, Tatsuyoshi & Akai, Kenju, 2016. "Equity versus Equality," MPRA Paper 75376, University Library of Munich, Germany.
- Robin, Stéphane & Rusinowska, Agnieszka & Villeval, Marie Claire, 2014.
"Ingratiation: Experimental evidence,"
European Economic Review, Elsevier, vol. 66(C), pages 16-38.
- Stéphane Robin & Agnieszka Rusinowska & Marie Claire Villeval, 2014. "Ingratiation: Experimental Evidence," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00911556, HAL.
- Stéphane Robin & Agnieszka Rusinowska & Marie Claire Villeval, 2014. "Ingratiation: Experimental Evidence," Post-Print halshs-00911556, HAL.
- Cubitt, Robin P. & Drouvelis, Michalis & Gächter, Simon & Kabalin, Ruslan, 2011.
"Moral judgments in social dilemmas: How bad is free riding?,"
Journal of Public Economics, Elsevier, vol. 95(3), pages 253-264.
- Cubitt, Robin P. & Drouvelis, Michalis & Gächter, Simon & Kabalin, Ruslan, 2011. "Moral judgments in social dilemmas: How bad is free riding?," Journal of Public Economics, Elsevier, vol. 95(3-4), pages 253-264, April.
- Robin Cubitt & Michalis Drouvelis & Simon Gachter & Ruslan Kabalin, "undated". "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 09/20, Department of Economics, University of York.
- Robin P. Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2010. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2010-18, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2009. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2009-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin P. Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2010. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," CESifo Working Paper Series 3230, CESifo.
- Elena Cettolin & Arno Riedl, 2017.
"Justice Under Uncertainty,"
Management Science, INFORMS, vol. 63(11), pages 3739-3759, November.
- Cettolin, E. & Riedl, A.M., 2013. "Justice under uncertainty," Research Memorandum 036, Maastricht University, Graduate School of Business and Economics (GSBE).
- Elena Cettolin & Arno Riedl, 2013. "Justice under Uncertainty," CESifo Working Paper Series 4326, CESifo.
- Rohde, Kirsten I.M. & Van Ourti, Tom & Soebhag, Amar, 2023. "Reducing socioeconomic health inequalities? A questionnaire study of majorization and invariance conditions," Journal of Health Economics, Elsevier, vol. 90(C).
- Johansson-Stenman, Olof, 2012.
"Are most people consequentialists?,"
Economics Letters, Elsevier, vol. 115(2), pages 225-228.
- Johansson-Stenman, Olof, 2010. "Are Most People Consequentialists?," Working Papers in Economics 467, University of Gothenburg, Department of Economics.
- Cubitt, Robin P. & Drouvelis, Michalis & Gächter, Simon & Kabalin, Ruslan, 2011.
"Moral judgments in social dilemmas: How bad is free riding?,"
Journal of Public Economics, Elsevier, vol. 95(3), pages 253-264.
- Cubitt, Robin P. & Drouvelis, Michalis & Gächter, Simon & Kabalin, Ruslan, 2011. "Moral judgments in social dilemmas: How bad is free riding?," Journal of Public Economics, Elsevier, vol. 95(3-4), pages 253-264, April.
- Robin Cubitt & Michalis Drouvelis & Simon Gachter & Ruslan Kabalin, "undated". "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 09/20, Department of Economics, University of York.
- Robin P. Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2010. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2010-18, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2009. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2009-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin P. Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2010. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," CESifo Working Paper Series 3230, CESifo.
- Robin P. Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2010. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2010-18, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin Cubitt & Michalis Drouvelis & Simon Gaechter & Ruslan Kabalin, 2009. "Moral Judgments in Social Dilemmas: How Bad is Free Riding?," Discussion Papers 2009-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Ruben Durante & Louis Putterman & Joël Weele, 2014.
"Preferences For Redistribution And Perception Of Fairness: An Experimental Study,"
Journal of the European Economic Association, European Economic Association, vol. 12(4), pages 1059-1086, August.
- Ruben Durante & Louis Putterman, 2007. "Preferences For Redistribution and Perception of Fairness: An Experimental Study," Working Papers 2007-13, Brown University, Department of Economics.
- Ruben Durante & Louis Putterman & Joël van Der Weele, 2014. "Preferences for Redistribution and Perception of Fairness: an Experimental Study," Post-Print hal-03393021, HAL.
- Ruben Durante & Louis Putterman & JoÃŽl van der Weele, 2013. "Preferences for Redistribution and Perception of Fairness: An Experimental Study," Working Papers 2013-7, Brown University, Department of Economics.
- Ruben Durante & Louis Putterman & Joël van Der Weele, 2014. "Preferences for Redistribution and Perception of Fairness: an Experimental Study," SciencePo Working papers Main hal-03393021, HAL.
- Ruben Durante & Louis Putterman, 2009. "Preferences for Redistribution and Perception of Fairness: An Experimental Study," Working Papers hal-01073750, HAL.
- Romain Espinosa & Bruno Deffains & Christian Thöni, 2020.
"Debiasing preferences over redistribution: an experiment,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(4), pages 823-843, December.
- Romain Espinosa & Bruno Deffains & Christian Thöni, 2020. "Debiasing preferences over redistribution: An experiment," Cahiers de Recherches Economiques du Département d'économie 20.03, Université de Lausanne, Faculté des HEC, Département d’économie.
- Romain Espinosa & Bruno Deffains & Christian Thöni, 2020. "Debiasing preferences over redistribution: An experiment," Post-Print halshs-02614203, HAL.
- Jeremiah Hurley & Neil Buckley & Katherine Cuff & Mita Giacomini & David Cameron, 2011. "Judgments regarding the fair division of goods: the impact of verbal versus quantitative descriptions of alternative divisions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(2), pages 341-372, July.
- Grolleau, Gilles & Meunier, Luc & Mzoughi, Naoufel, 2023.
"Polluting for (higher) profits: Does an economic gain influence moral judgment of environmental wrongdoings?,"
Ecological Economics, Elsevier, vol. 213(C).
- Gilles Grolleau & Luc Meunier & Naoufel Mzoughi, 2023. "Polluting for (Higher) Profits: Does an Economic Gain Influence Moral Judgment of Environmental Wrongdoings?," Post-Print hal-04182138, HAL.
- Benoît Tarroux, 2015.
"Comparing two-dimensional distributions: a questionnaire-experimental approach,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(1), pages 87-108, January.
- Benoît Tarroux, 2015. "Comparing two-dimensional distributions: a questionnaire-experimental approach," Post-Print halshs-01023739, HAL.
- Yoram Amiel & Michele Bernasconi & Frank Cowell & Valentino Dardanoni, 2015.
"Do we value mobility?,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(2), pages 231-255, February.
- Amiel, Yoram & Bernasconi, Michele & Cowell, Frank A. & Dardanoni, Valentino, 2013. "Do we value mobility?," LSE Research Online Documents on Economics 58061, London School of Economics and Political Science, LSE Library.
- Amiel, Yoram & Bernasconi, Michele & Cowell, Frank & Dardanoni, Valentino, 2015. "Do we value mobility?," LSE Research Online Documents on Economics 59415, London School of Economics and Political Science, LSE Library.
- Yoram Amiel & Michele Bernasconi & Michele Bernasconi & Frank A Cowell & Valentino Dardanoni & Valentino Dardanoni, 2013. "Do We Value Mobility?," STICERD - Public Economics Programme Discussion Papers 17, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Stefania Bortolotti & Ivan Soraperra & Matthias Sutter & Claudia Zoller, 2017.
"Too Lucky to be True - Fairness Views under the Shadow of Cheating,"
CESifo Working Paper Series
6563, CESifo.
- Bortolotti, Stefania & Soraperra, Ivan & Sutter, Matthias & Zoller, Claudia, 2017. "Too Lucky to Be True: Fairness Views under the Shadow of Cheating," IZA Discussion Papers 10877, Institute of Labor Economics (IZA).
- Alexander W. Cappelen & James Konow & Erik ?. S?rensen & Bertil Tungodden, 2013.
"Just Luck: An Experimental Study of Risk-Taking and Fairness,"
American Economic Review, American Economic Association, vol. 103(4), pages 1398-1413, June.
- Cappelen, Alexander W. & Konow, James & Sørensen, Erik Ø. & Tungodden, Bertil, 2010. "Just Luck: An Experimental Study of Risk Taking and Fairness," Discussion Paper Series in Economics 4/2010, Norwegian School of Economics, Department of Economics.
- Cappelen, Alexander W & Konow, James & Sorensen, Erik O & Tungodden, Bertil, 2010. "Just luck: an experimental study of risk taking and fairness," MPRA Paper 24475, University Library of Munich, Germany.
- Fehr, Dietmar & Vollmann, Martin, 2020.
"Misperceiving Economic Success: Experimental Evidence on Meritocratic Beliefs and Inequality Acceptance,"
Working Papers
0695, University of Heidelberg, Department of Economics.
- Dietmar Fehr & Martin Vollmann, 2022. "Misperceiving Economic Success: Experimental Evidence on Meritocratic Beliefs and Inequality Acceptance," CESifo Working Paper Series 9983, CESifo.
- Rustichini, Aldo & Villeval, Marie Claire, 2014.
"Moral hypocrisy, power and social preferences,"
Journal of Economic Behavior & Organization, Elsevier, vol. 107(PA), pages 10-24.
- Rustichini, Aldo & Villeval, Marie Claire, 2012. "Moral Hypocrisy, Power and Social Preferences," IZA Discussion Papers 6590, Institute of Labor Economics (IZA).
- Marie Claire Villeval & Aldo Rustichini, 2012. "Moral Hypocrisy, Power and Social Preferences," Post-Print halshs-00725939, HAL.
- Aldo Rustichini & Marie-Claire Villeval, 2012. "Moral Hypocrisy, Power and Social Preferences," Working Papers 1216, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
- Marie Claire Villeval & Aldo Rustichini, 2012. "Moral Hypocrisy, Power and Social Preferences," Post-Print halshs-00725940, HAL.
- Aldo Rustichini & Marie Claire Villeval, 2012. "Moral Hypocrisy, Power and Social Preferences," Working Papers halshs-00702578, HAL.
- Aldo Rustichini & Marie Claire Villeval, 2014. "Moral hypocrisy, power and social preferences," Post-Print halshs-01080999, HAL.
- Bjorvatn, Kjetil & Getahun, Tigabu Degu & Halvorsen, Sandra Kristine, 2020. "Conflict or cooperation? Experimental evidence on intra-household allocations in Ethiopia," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 85(C).
- Strobl, Renate & Wunsch, Conny, 2018.
"Risky Choices and Solidarity: Why Experimental Design Matters,"
Working papers
2018/17, Faculty of Business and Economics - University of Basel.
- Conny Wunsch & Renate Strobl, 2018. "Risky Choices and Solidarity: Why Experimental Design Matters," CESifo Working Paper Series 7125, CESifo.
- Wunsch, Conny & Strobl, Renate, 2018. "Risky Choices and Solidarity: Why Experimental Design Matters," CEPR Discussion Papers 12995, C.E.P.R. Discussion Papers.
- Wunsch, Conny & Strobl, Renate, 2018. "Risky Choices and Solidarity: Why Experimental Design Matters," IZA Discussion Papers 11641, Institute of Labor Economics (IZA).
- Darryl Biggar, 2010. "Fairness in Public-utility Regulation: A Theory," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 17(1), pages 5-32.
- Emin Karagözoglu & Arno Riedl, 2010.
"Information, Uncertainty, and Subjective Entitlements in Bargaining,"
CESifo Working Paper Series
3133, CESifo.
- Karagozoglu, Emin & Riedl, Arno, 2010. "Information, Uncertainty, and Subjective Entitlements in Bargaining," IZA Discussion Papers 5079, Institute of Labor Economics (IZA).
- Karagozoglu, E. & Riedl, A.M., 2010. "Information, uncertainty, and subjective entitlements in bargaining," Research Memorandum 043, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Jordi Brandts & Enrique Fatas & Ernan Haruvy & Francisco Lagos, 2015. "The impact of relative position and returns on sacrifice and reciprocity: an experimental study using individual decisions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(3), pages 489-511, October.
- Hong, Hao & Ding, Jianfeng & Yao, Yang, 2015. "Individual social welfare preferences: An experimental study," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 57(C), pages 89-97.
- Victoria Westbrooke & Xiaomeng Lucock & Isobel Greenhalgh, 2023. "Drone Use in On-Farm Environmental Compliance: An Investigation of Regulators’ Perspectives," Sustainability, MDPI, vol. 15(3), pages 1-15, January.
- Mollerstrom, Johanna & Reme, Bjørn-Atle & Sørensen, Erik Ø., 2015.
"Luck, choice and responsibility — An experimental study of fairness views,"
Journal of Public Economics, Elsevier, vol. 131(C), pages 33-40.
- Möllerström, Johanna & Reme, Bjørn-Atle & Sørensen, Eric Ø., 2014. "Luck, Choice and Responsibility: An Experimental Study of Fairness Views," Working Paper Series 1014, Research Institute of Industrial Economics.
- Johanna Mollerstrom & Bjorn-Atle Reme & Erik O. Sorensen, 2015. "Luck, Choice and Responsibility: An Experimental Study of Fairness Views," Working Papers 1053, George Mason University, Interdisciplinary Center for Economic Science.
- Möllerström, Johanna & Reme, Bjørn-Atle & Sørensen, Erik Ø., 2014. "Luck, Choice and Responsibility. An experimental study of fairness views," Discussion Paper Series in Economics 6/2014, Norwegian School of Economics, Department of Economics.
- Ben D'Exelle & Marrit Berg, 2014.
"Aid Distribution and Cooperation in Unequal Communities,"
Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(1), pages 114-132, March.
- Ben D'Exelle & Marrit van den Berg, 2012. "Aid Distribution and Co-operation in Unequal Communities," WIDER Working Paper Series wp-2012-111, World Institute for Development Economic Research (UNU-WIDER).
- Clément, Valérie & Rey-Valette, Hélène & Rulleau, Bénédicte, 2015. "Perceptions on equity and responsibility in coastal zone policies," Ecological Economics, Elsevier, vol. 119(C), pages 284-291.
- Hayes, Tanya & Murtinho, Felipe, 2018. "Communal governance, equity and payment for ecosystem services," Land Use Policy, Elsevier, vol. 79(C), pages 123-136.
- Cappelen, Alexander & Liu, Yiming & Nielsen, Hedda & Tungodden, Bertil, 2024. "Fairness in a Society of Unequal Opportunities," Discussion Paper Series in Economics 17/2024, Norwegian School of Economics, Department of Economics.
- Ingrid T. Rohde & Kirsten M. Rohde, 2015. "Managing social risks – tradeoffs between risks and inequalities," Journal of Risk and Uncertainty, Springer, vol. 51(2), pages 103-124, October.
- Alexander Cappelen & Yiming Liu & Hedda Nielsen & Bertil Tungodden, 2024. "Fairness in a Society of Unequal Opportunities," Rationality and Competition Discussion Paper Series 506, CRC TRR 190 Rationality and Competition.
- repec:sae:envval:v:24:y:2015:i:6:p:777-798 is not listed on IDEAS
- Paetzel, Fabian & Lorenz, Jan & Tepe, Markus, 2018. "Transparency diminishes framing-effects in voting on redistribution: Some experimental evidence," European Journal of Political Economy, Elsevier, vol. 55(C), pages 169-184.
- David Chavanne & Kevin A. McCabe & Maria Pia Paganelli, 2019. "Shared Experience and Third-Party Redistribution," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(3), pages 446-463, June.
- Johansson-Stenman, Olof & Konow, James, 2009. "Fairness Concerns in Environmental Economics - Do They Really Matter and If So How?," Working Papers in Economics 398, University of Gothenburg, Department of Economics.
- Ivo Bischoff & Nataliya Kusa, 2015. "Policy preferences for inheritance taxation," MAGKS Papers on Economics 201531, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
- Ivo Bischoff & Nataliya Kusa, 2016. "Should wealth transfers be taxed? Citizens’ view on a fundamental question," MAGKS Papers on Economics 201636, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
- Alexander Max Bauer & Frauke Meyer & Jan Romann & Mark Siebel & Stefan Traub, 2022. "Need, equity, and accountability," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 59(4), pages 769-814, November.
- David Chavanne, 2017. "Shaking Off Burdens – Debt Relief and Moral Intuitions," Kyklos, Wiley Blackwell, vol. 70(3), pages 381-401, August.
- Urs Fischbacher & Nadja Kairies-Schwarz & Ulrike Stefani, 2017. "Non-additivity and the Salience of Marginal Productivities: Experimental Evidence on Distributive Fairness," Economica, London School of Economics and Political Science, vol. 84(336), pages 587-610, October.
- Dong, Lu & Falvey, Rod & Luckraz, Shravan, 2019.
"Fair share and social efficiency: A mechanism in which peers decide on the payoff division,"
Games and Economic Behavior, Elsevier, vol. 115(C), pages 209-224.
- Lu Dong & Rod Falvey & Shravan Luckraz, 2016. "Fair share and social effciency: a mechanism in which peers decide on the payoff division," Discussion Papers 2016-10, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Jella Pfeiffer & Julia Gutschow & Christian Haas & Florian Möslein & Oliver Maspfuhl & Frederik Borgers & Suzana Alpsancar, 2023. "Algorithmic Fairness in AI," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 65(2), pages 209-222, April.
- David Chavanne & Kevin A. McCabe & Maria Pia Paganelli, 2015. "Are Self-Made Men Made Equally? An Experimental Test of Impartial Redistribution and Perceptions of Self-Determination," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 40, pages 1-3.
- Benoît Tarroux, 2012. "Appraising two-Dimensional Inequality: A Questionnaire-Experimental Approach," Economics Working Paper Archive (University of Rennes & University of Caen) 201216, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
- Konow, James, 2009. "Adam Smith and Moral Knowledge," MPRA Paper 18557, University Library of Munich, Germany.
- Cappelen, Alexander W. & de Haan, Thomas & Tungodden, Bertil, 2024.
"Fairness and limited information: Are people Bayesian meritocrats?,"
Journal of Public Economics, Elsevier, vol. 233(C).
- Cappelen, Alexander & Haan, Thomas de & Tungodden, Bertil, 2022. "Fairness and limited information: Are people Bayesian meritocrats?," Discussion Paper Series in Economics 7/2022, Norwegian School of Economics, Department of Economics.
- Cloos, Janis & Mohr, Svenja, 2022. "Acceptance of data sharing in smartphone apps from key industries of the digital transformation: A representative population survey for Germany," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
- Christine L. Exley & Judd B. Kessler, 2018. "Equity Concerns are Narrowly Framed," NBER Working Papers 25326, National Bureau of Economic Research, Inc.
- Pedro FrancŽs-G—mez & Lorenzo Sacconi & Marco Faillo, 2012. "Behavioral Business Ethics as a Method for Normative Business Ethics," Econometica Working Papers wp42, Econometica.