Fair Wages and Happiness

According to traditional economic theory, when people perform jobs for pay, they decide whether the pay they receive is large enough to justify the effort they put into the task at hand. But what if someone else is doing the same work for more pay? They probably won’t feel so great about their jobs anymore, will they? How basic is this reaction?
Watch this fascinating video of Capuchin monkeys, one of whom feels he is getting screwed:

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