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Beyond windfall gains
(2014)
The article on experimental economic research to further develop the model of the classic homo oeconomicus is based above all on experiments in which the behaviour of test subjects who were provided with windfall gains was observed. Dealing with windfall gains is systematically different from dealing with losses. In order to model this, we use squat jumps with arm-swings as payment instead of money, and test whether threatened losses in the sense of the assumptions of the homo oeconomicus will be minimised in an anonymous laboratory situation, or whether it shows the influence of implemented social norms. We find independence of the payment streams from physical influence factors, which suggests that the selected method is suitable. In addition, the payments measured by us are different both from chance behaviour and from behaviour which seeks to maximise use. We interpret this as an effect of social norms in anonymous small-cost situations with real losses.