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Face Value

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  • Catherine C. Eckel
  • Ragan Petrie

Abstract

People pay attention to the appearance of others, and personal characteristics can affect many types of decisions. We ask, is there informational value in a face in a situation where trust and reciprocity can increase earnings? We use a laboratory trust game experiment where subjects are unable to observe a counterpart, must observe a counterpart, or can pay to reveal a counterpart's photograph. Both senders and responders are willing to pay to observe the photos, and we show that behavior, earnings, and efficiency are affected. When subjects are "face to face," efficiency is enhanced, and senders have higher earnings. (JEL D12, D83, Z13)

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.4.1497
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 101 (2011)
Issue (Month): 4 (June)
Pages: 1497-1513

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Handle: RePEc:aea:aecrev:v:101:y:2011:i:4:p:1497-1513

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References

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Citations

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Cited by:
  1. Shakun D. Mago & Anya C. Savikhin & Roman M. Sheremeta, 2012. "Facing Your Opponents: Social identification and information feedback in contests," Working Papers 12-15, Chapman University, Economic Science Institute.
  2. Englmaier, Florian & Strasser, Sebastian & Winter, Joachim, 2014. "Worker characteristics and wage differentials: Evidence from a gift-exchange experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 97(C), pages 185-203.
  3. Busetta, Giovanni & Fiorillo, Fabio & Visalli, Emanuela, 2013. "Searching for a job is a beauty contest," MPRA Paper 49392, University Library of Munich, Germany.
  4. Faillo, Marco & Grieco, Daniela & Zarri, Luca, 2012. "Cultural Diversity, Cooperation,and Anti-social Punishment," AICCON Working Papers 102-2012, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
  5. Redzo Mujcic & Paul Frijters, 2013. "Conspicuous Consumption, Conspicuous Health, and Optimal Taxation," Discussion Papers Series 483, School of Economics, University of Queensland, Australia.
  6. Anya Savikhin Samek & Roman M. Sheremeta, 2014. "When Identifying Contributors is Costly: An Experiment on Public Goods," Working Papers 14-04, Chapman University, Economic Science Institute.
  7. Anya Savikhin & Roman Sheremeta, 2010. "Visibility of Contributions and Cost of Information: An Experiment on Public Goods," Working Papers 10-22, Chapman University, Economic Science Institute.
  8. Friesen, Jane & Arifovic, Jasmina & Wright, Stephen C. & Ludwig, Andreas & Giamo, Lisa & Baray, Gamze, 2012. "Ethnic identity and discrimination among children," Journal of Economic Psychology, Elsevier, vol. 33(6), pages 1156-1169.
  9. Kai A. Konrad & Tim Lohse & Salmai Qari, 2013. "Dubious Versus Trustworthy Faces - What Difference Does it Make for Tax Compliance?," CESifo Working Paper Series 4373, CESifo Group Munich.

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