Rabin Fairness

Beschreibung

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Beschreibung

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Rabin fairness is a fairness model invented by Matthew Rabin. It goes beyond the standard assumptions in modeling behavior, rationality and self-interest, to incorporate fairness. Rabin''s fairness model incorporates findings from the fields of economics and psychology fields to provide an alternative utility model. Fairness is one type of social preference. Past utility models incorporated altruism or the fact that people may care not only about their own well-being, but also about the well-being of others. However, evidence indicates that pure altruism does not occur often, contrarily most altruistic behavior demonstrates three facts (as defined by Rabin) and these facts are proven by past events.