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Trust and Trustworthiness among Economics Majors

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  • Utteeyo Dasgupta

    ()
    (Franklin and Marshall College)

  • Arjun Menon

    ()
    (Franklin and Marshall College; NERA Economic Consulting)

Abstract

We use a simple trust-game to elicit trusting and trustworthy behavior among students majoring in economics and other disciplines. We also administer a Social Values Orientation (SVO) survey to evaluate any possible correlation between an individual's levels of trust indicated in the survey and his/her action in the game. Our results suggest that although students pursuing a major in economics appear to be no different than other students in choosing trusting actions, when it comes to being trustworthy, the former group always chooses the self payoff maximizing action rather than the trustworthy action. Scores from the SVO survey do not help in predicting trusting or trustworthy behavior in our experiment.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 31 (2011)
Issue (Month): 4 ()
Pages: 2799-2815

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Handle: RePEc:ebl:ecbull:eb-11-00596

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Related research

Keywords: Trust; Trustworthiness; Major of Study; Social Value Orientation;

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References

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  1. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, Elsevier, vol. 10(1), pages 122-142, July.
  2. James C. Cox, 2009. "Some Issues of Methods, Theories, and Experimental Designs," Experimental Economics Center Working Paper Series, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University 2009-02, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  3. Bohnet, Iris & Croson, Rachel, 2004. "Trust and trustworthiness," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 55(4), pages 443-445, December.
  4. Hoffman, Elizabeth & McCabe, Kevin & Smith, Vernon L, 1996. "Social Distance and Other-Regarding Behavior in Dictator Games," American Economic Review, American Economic Association, American Economic Association, vol. 86(3), pages 653-60, June.
  5. Juan Camilo Cardenas & Jeffrey Carpenter, 2008. "Behavioural Development Economics: Lessons from Field Labs in the Developing World," Journal of Development Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 44(3), pages 311-338.
  6. Burks, Stephen V. & Carpenter, Jeffrey P. & Verhoogen, Eric, 2003. "Playing both roles in the trust game," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 51(2), pages 195-216, June.
  7. Ananish Chaudhuri & Lata Gangadharan, 2007. "An Experimental Analysis of Trust and Trustworthiness," Southern Economic Journal, Southern Economic Association, vol. 73(4), pages 959–985, April.
  8. Woolcock, Michael & Narayan, Deepa, 2000. "Social Capital: Implications for Development Theory, Research, and Policy," World Bank Research Observer, World Bank Group, World Bank Group, vol. 15(2), pages 225-49, August.
  9. Nava Ashraf & Iris Bohnet & Nikita Piankov, 2006. "Decomposing trust and trustworthiness," Experimental Economics, Springer, Springer, vol. 9(3), pages 193-208, September.
  10. Chaudhuri, Ananish & Sopher, Barry & Strand, Paul, 2002. "Cooperation in social dilemmas, trust and reciprocity," Journal of Economic Psychology, Elsevier, Elsevier, vol. 23(2), pages 231-249, April.
  11. McCabe, Kevin A. & Rassenti, Stephen J. & Smith, Vernon L., 1998. "Reciprocity, Trust, and Payoff Privacy in Extensive Form Bargaining," Games and Economic Behavior, Elsevier, Elsevier, vol. 24(1-2), pages 10-24, July.
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Cited by:
  1. Uwe Dulleck & Jonas Fooken & Yumei He, 2013. "Gender and other determinants of trust and reciprocity in an experimental labour market amongst Chinese students," QuBE Working Papers, QUT Business School 012, QUT Business School.
  2. Haucap, Justus & Müller, Andrea, 2014. "Why are economists so different? Nature, nurture, and gender effects in a simple trust game," DICE Discussion Papers 136, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).

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