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The long shadow of income on trustworthiness

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  • Ermisch, John
  • Gambetta, Diego

Abstract

We employ a behavioural measure of trustworthiness obtained from an experiment carried out with a sample of the general British population whose individuals were extensively interviewed on earlier occasions. Our basic finding is that given past income, higher current income increases trustworthiness and, given current income, higher past income reduces trustworthiness. Past income determines the level of financial aspirations and whether or not these are fulfilled by the level of current income affects trustworthiness. We also suspect that past income may also capture heterogeneity in relevant subjects’ dispositions, with more opportunistic subjects being less trustworthy and having higher average incomes.

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Bibliographic Info

Paper provided by Institute for Social and Economic Research in its series ISER Working Paper Series with number 2011-08.

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Date of creation: 22 Mar 2011
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Publication status: published
Handle: RePEc:ese:iserwp:2011-08

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Postal: Publications Office, Institute for Social and Economic Research, University of Essex, Wivenhoe Park, Colchester, Essex CO4 3SQ UK
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Web page: https://www.iser.essex.ac.uk/
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Postal: Publications Office, Institute for Social and Economic Research, University of Essex, Wivenhoe Park, Colchester, Essex CO4 3SQ UK
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  1. Bellemare, Charles & Kröger, Sabine, 2003. "On Representative Trust," SFB 373 Discussion Papers 2003,27, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  2. John Ermisch & Diego Gambetta & Heather Laurie & Thomas Siedler & S. C. Noah Uhrig, 2009. "Measuring people's trust," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 172(4), pages 749-769.
  3. Annette Jäckle & Emanuela Sala & Stephen P. Jenkins & Peter Lynn, 2005. "Validation of Survey Data on Income and Employment: The ISMIE Experience," Discussion Papers of DIW Berlin 488, DIW Berlin, German Institute for Economic Research.
  4. Bellemare, Charles & Kröger, Sabine, 2004. "On Representative Social Capital," IZA Discussion Papers 1145, Institute for the Study of Labor (IZA).
  5. Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008. "Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles," Journal of Economic Literature, American Economic Association, vol. 46(1), pages 95-144, March.
  6. McCabe, Kevin A. & Rigdon, Mary L. & Smith, Vernon L., 2003. "Positive reciprocity and intentions in trust games," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 52(2), pages 267-275, October.
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