Psychology - Is there Fairness?

Taking a break away from Charlie Munger and his Misjudgment of the Human Behavior, I thought it would be a refreshing change to touch on something simpler. Something most of us can identify with... something to do with a beer. Still, this has to do with my pet topic on financial pyschology. Let me elaborate.

You are at the Beach. The sun is hot and it is a great day. But you are now so thirsty and dying for a cold beer. Your friend volunteered to go to the nearby Hotel resort to buy a beer for you but wanted to know what would be the maximum price that you would pay for the beer. He will not buy the beer if the price is higher than your price (maximum). What will be your maximum price?

Now, in another scenario, supposing you are at the beach, and still dying for a beer etc but your friend now volunteers to buy the same beer at the nearby convenience store, our friendly neighbourhood store. What is your maximum price?

Are the 2 prices different? Why? By pure economic theory, the two prices should be the same, as the ultility derive ie. the joy of the quenched thirst is the same. There should be no difference as we have assumed it to be the same beer. Or is it? Did the fact that one was purchased at the Hotel and the other at the neighbourhood store affect our decision making? Why did it affect our decision?

From this simple exercise, Behaviorists began to postulate that the old classical theories may be inadequate. Fairness, in this case, has changed the outcome. The sense of fairness, is also applicable in employment and other macro situations. In short, decision making is more complex than originally thought... Emotions play a role.

Are there other emotions that play a role? There certainly are many others... Can you name some?