Confucianism and Preferences: Evidence from Lab Experiments in Taiwan and China
AbstractThis paper investigates how Confucianism affects individual decision making in Taiwan and in China and whether the Cultural Revolution in China, which denounced Confucian teaching, has had a long-lasting impact. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became more risk loving, less loss averse, and more impatient after being primed with Confucianism, whereas Taiwanese subjects became more trustworthy and more patient after being primed by Confucianism. Combining the evidence from the incentivized laboratory experiments and subjective survey measures, we found evidence that Chinese subjects and Taiwanese subjects reacted differently to Confucianism.
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Bibliographic InfoPaper provided by Department of Economics, University of Houston in its series Working Papers with number 2013-199-49.
Date of creation: 18 Jul 2013
Date of revision:
social norm; Confucianism; time preferences; risk aversion; trust;
Other versions of this item:
- Liu, Elaine M. & Meng, Juanjuan & Wang, Joseph Tao-yi, 2013. "Confucianism and Preferences: Evidence from Lab Experiments in Taiwan and China," IZA Discussion Papers 7684, Institute for the Study of Labor (IZA).
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- Z10 - Other Special Topics - - Cultural Economics - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-28 (All new papers)
- NEP-CNA-2013-07-28 (China)
- NEP-CUL-2013-07-28 (Cultural Economics)
- NEP-EVO-2013-07-28 (Evolutionary Economics)
- NEP-EXP-2013-07-28 (Experimental Economics)
- NEP-SOC-2013-07-28 (Social Norms & Social Capital)
- NEP-UPT-2013-07-28 (Utility Models & Prospect Theory)
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