Do Human Values Explain Economic Behaviour? An Experimental Study
AbstractIn contrast to current literature which mainly identifies relationships between particular economic behaviours and specific attitudes suggestive of those behaviours, we explore the potential of general human values for explaining economic behaviour. In particular, we investigate whether behaviours observed in binary-choice lotteries, time discounting, public good, ultimatum, dictator and trust game experiments can be explained by Schwartz’s theory of universal human values. We find that the values have explanatory power in relation to strategic, but not parametric, behaviours. We discuss this finding in terms of the sociology of values and suggest that situations involving human interactions provide the most conducive context for the expression of values. We also find that different subsets of the values relate to different strategic behaviours, indicating that there is no redundancy in their explanatory power.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Centre for Behavioural Business Research in its series ICBBR Working Papers with number 6.
Date of creation: 04 Jan 2010
Date of revision:
Contact details of provider:
Postal: Jubilee Campus, Nottingham NG2 8BB
Phone: +44-115-846 66 02
Fax: +44-115-846 66 67
Web page: http://www.nottingham.ac.uk/business/
More information through EDIRC
Values; behaviour; survey; experiments;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-CBE-2010-01-16 (Cognitive & Behavioural Economics)
- NEP-EVO-2010-01-16 (Evolutionary Economics)
- NEP-EXP-2010-01-16 (Experimental Economics)
- NEP-GTH-2010-01-16 (Game Theory)
- NEP-HPE-2010-01-16 (History & Philosophy of Economics)
- NEP-SOC-2010-01-16 (Social Norms & Social Capital)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Laure Cabantous).
If references are entirely missing, you can add them using this form.