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Self-serving bias

Article Abstract:

The theory of the self-serving bias proposed by Linda Babcock and George Loewenstein lacks a strong foundation. First, their definition of self-serving bias as the tendency to conflate what is fair with what benefits oneself appears too restrictive. In some cases, the behavior which Babcock and Loewenstein ascribe to self-serving bias can also be explained with subjects who have different concepts of fairness. A more appropriate definition of self-serving bias should disregard both context and fairness.

Author: Kaplan, Todd R., Ruffle, Bradley J.
Publisher: American Economic Association
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 1998

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Response from Linda Babcock and George Loewenstein

Article Abstract:

The theory of the self-serving bias extends beyond issues of fairness as claimed by Todd R. Kaplan and Bradley J. Ruffle. While they may be right in this regard, their argument that context must be eliminated from self-serving biases is debatable. Context-free self-serving bias is not only impossible but often not desirable. At any rate, the self-serving bias has already been demonstrated in a highly stylized environment in which fairness was not involved.

Author: Loewenstein, George, Babcock, Linda
Publisher: American Economic Association
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 1998

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Gift giving with emotions

Article Abstract:

Gift giving, which used to be a means of insurance, lending, borrowing and trade, has been replaced by formal banking and insurance systems. However, even in industrial relations, every act of giving is motivated by emotions. Givers make sure that the psychological benefit from the act of giving is greater than the cost of the gift. Moreover, employers strengthen their relationship with employees by offering gifts and rewards.

Author: Ruffle, Bradley J.
Publisher: Elsevier B.V.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1999
Gifts & Honoraria (Employee), Social aspects, Research, Gifts, Industrial psychology, Business gifts, Industrial-organizational psychology

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Subjects list: Psychological aspects, Economic aspects, Game theory, Rational expectations (Economics), Prejudices, Prejudice, Fairness
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