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Using Experimental Economics to Measure Social Capital and Predict Financial Decisions

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Author Info
Dean S. Karlan (Yale University)
Abstract

Economic theory suggests that market failures arise when contracts are difficult to enforce or observe. Social capital can help solve these failures. The more individuals trust each other, the more able they are to contract with each other.1 Hence, many believe trust is a critical input for both macro- and microeconomic outcomes. The Trust game has become a popular tool, with many researchers conducting it in both university laboratories and field locations in developing countries (Abigail M. Barr, 2003, Joyce E. Berg et al., 1995, Edward L. Glaeser et al., 2000). These studies have found that behaviors in the Trust game correlate intuitively with individual attitudes and the relationships between players. However, these are not outcomes of real interest, but rather proxies (or correlates) for the ability to overcome market failures and complete otherwise difficult to enforce contracts.

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Paper provided by Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies. in its series Working Papers with number 182.

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Date of creation: Jul 2005
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Handle: RePEc:pri:rpdevs:182

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  1. Matthias Benz & Stephan Meier, . "Do People Behave in Experiments as in the Field? – Evidence from Donations," IEW - Working Papers iewwp248, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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  2. Benjamin A. Olken, 2006. "Do Television and Radio Destroy Social Capital? Evidence from Indonesian Villages," NBER Working Papers 12561, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Olof Johansson Stenman & Minhaj Mahmud & Peter Martinsson, 2006. "Trust, Trust Games and Stated Trust: Evidence from Rural Bangladesh," Keele Economics Research Papers KERP 2006/11, Centre for Economic Research, Keele University. [Downloadable!]
    Other versions:
  4. Emanuele Ciriolo, 2005. "Inequity aversion and trustees’ reciprocity in the trust game," Working Papers DULBEA 05-20.RS, Université libre de Bruxelles, Department of Applied Economics (DULBEA). [Downloadable!]
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  5. Olof Johansson Stenman & Minhaj Mahmud & Peter Martinsson, 2006. "Trust and Religion: Experimental Evidence from Bangladesh," Keele Economics Research Papers KERP 2006/10, Centre for Economic Research, Keele University. [Downloadable!]
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  6. Holm, Håkan & Nystedt, Paul, 2006. "Collective Trust Behavior," Working Papers 2007:1, Lund University, Department of Economics. [Downloadable!]
  7. Dean Karlan & Xavier Gine & Jonathan Morduch & Pamela Jakiela, 2006. "Microfinance Games," Working Papers 936, Economic Growth Center, Yale University. [Downloadable!]
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  8. Karlan, Dean S., 2007. "Social Connections and Group Banking," CEPR Discussion Papers 6194, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  9. Johansson-Stenman, Olof, 2006. "Who Are the Trustworthy, We Think?," Working Papers in Economics 222, Göteborg University, Department of Economics. [Downloadable!]
  10. Andrew Leigh, 2006. "Trust, Inequality, and Ethnic Heterogeneity," CEPR Discussion Papers 511, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
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  11. Tomomi Tanaka & Colin F Camerer & Quang Nguyen, 2006. "Poverty, politics, and preferences: Field Experiments and survey data from Vietnam," Levine's Bibliography 122247000000001099, UCLA Department of Economics. [Downloadable!]
  12. Jeffery Carpenter & Juan Camilo Cardenas, 2006. "Behavioural Development Economics: Lessons from field labs in the developing world," Middlebury College Working Paper Series 0616, Middlebury College, Department of Economics. [Downloadable!]
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  13. Gerald Pruckner & Rupert Sausgruber, 2006. "Trust on the Streets: A Natural Field Experiment on Newspaper Purchasing," Discussion Papers 06-01, University of Copenhagen. Department of Economics. [Downloadable!]
  14. Nava Ashraf & James Berry & Jesse M. Shapiro, 2007. "Can Higher Prices Stimulate Product Use? Evidence from a Field Experiment in Zambia," NBER Working Papers 13247, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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