Egoism
Simple, yet Famous Models
Other–Regarding Utility functions used to explain experimental data
Fehr–Schmidt (Bolton–Ockenfels) introduce fairness and envy:
Ui=mi−Iα−i 1
∑
kmax{(mk−mi),^0 }−
βi
I− 1
∑
kmax{(mi−mk),^0 }
Charness–Rabin:mi+Iβ−i 1
[
δimin{m 1 ,...,mI}+ (1−δi)
∑I
j=1mj
]
Edgeworth already has looked atmi+mj
Shaked: such ad hoc models are not science (and Poincar ́e would
agree)