Unit 5 Who gets what and why? Flashcards
(5 cards)
1
Q
Structural power
A
- based on value of someone’s next best alternative
- means someone can walk away from a bad deal
- ltd by structural power of the other person
2
Q
Bargaining power
A
- structural power b/w 2 people determines the greatest and least a person can get from the interaction
- people w bargaining power can set terms of an exchange / impose or threaten to impose heavy costs
3
Q
Substantive judgements of fairness
A
- only need to look at allocations/payoffs
4
Q
Procedural judgements of fairness
A
- how the allocations came about (rules, other factors etc)
5
Q
Gini coefficient
A
measure of inequality
0.5 x avg difference in income / avg income
- closer to 1, more inequality
- closer to zero, less inequality
