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A representation theorem for guilt aversion (2016)
Journal Article
Jensen, M. K., & Kozlovskaya, M. (2016). A representation theorem for guilt aversion. Journal of Economic Behavior and Organization, 125, 148-161. https://doi.org/10.1016/j.jebo.2016.02.001

Guilt aversion has been shown to play an important role in economic decision-making. In this paper, we take an axiomatic approach to guilt by deducing a utility representation from a list of easily interpretable assumptions on an agent's preferences.... Read More about A representation theorem for guilt aversion.