I'll probably deal with that in another video in the future, but there's a general difference between outcomes-based models (such as this one) vs. models that also have to do with the process or intentions of people. A substantial amount of evidence suggests that people don't only care about the amount of money they receive in a game, but whether they are treated with good intentions by other players. See, e.g. this paper on which Fehr was also a co-author: www.sciencedirect.com/science/article/abs/pii/S0899825607000784
I was having difficulties with this topic before watching this video. Thank you very much for great explanation. Please, make more videos like this
Crystal clear explanation! Thanks to you ❤
awesome video!! was really clear--great teaching!
Thank you for the explanation - it was great!
Amazing video!
Thank you for the good explanation
Very concise
great vid!
Hi thanks for the video!! What are the things that the Fehr and Schmidt model don't explain?
I'll probably deal with that in another video in the future, but there's a general difference between outcomes-based models (such as this one) vs. models that also have to do with the process or intentions of people. A substantial amount of evidence suggests that people don't only care about the amount of money they receive in a game, but whether they are treated with good intentions by other players. See, e.g. this paper on which Fehr was also a co-author: www.sciencedirect.com/science/article/abs/pii/S0899825607000784
Thanks, that's perfect