Human Studies
IA research on humans mostly occurs in the discipline of economics though it is also studied in sociology.
Research on IA began in 1978 when studies suggested that humans are sensitive to inequities in favor of as well as those against them, and that some people attempt overcompensation when they feel "guilty" or unhappy to have received an undeserved reward.
A more recent definition of IA (resistance to inequitable outcomes) was developed in 1999 by Fehr and Schmidt. They postulated that people make decisions so as to minimize inequity in outcomes. Specifically, consider a setting with individuals {1,2,...,n} who receive pecuniary outcomes xi. Then the utility to person i would be given by
where α parametrizes the distaste of person i for disadvantageous inequality in the first nonstandard term, and β parametrizes the distaste of person i for advantageous inequality in the final term.
Read more about this topic: Inequity Aversion
Famous quotes containing the words human and/or studies:
“It is, in both cases, that a spiritual life has been imparted to nature; that the solid seeming block of matter has been pervaded and dissolved by a thought; that this feeble human being has penetrated the vast masses of nature with an informing soul, and recognised itself in their harmony, that is, seized their law. In physics, when this is attained, the memory disburthens itself of its cumbrous catalogues of particulars, and carries centuries of observation in a single formula.”
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“Even if one studies to an old age, one will never finish learning.”
—Chinese proverb.