Key points are not available for this paper at this time.
Daniel Kahneman, Jack L. Knetsch, Richard H. Thaler, Fairness and the Assumptions of Economics, The Journal of Business, Vol. 59, No. 4, Part 2: The Behavioral Foundations of Economic Theory (Oct., 1986), pp. S285-S300
Kahneman et al. (Wed,) studied this question.