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Efficient, but immoral?: Assessing market attitudes as multidimensional

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  • Goff, Sandra H.
  • Noblet, Caroline L.

Abstract

Much of the research on market attitudes to date has employed a one-dimensional scale through which individuals are described as being either pro-market or anti-market. We speculate that the use of a one-dimensional scale obscures important underlying variation in individuals’ attitudes toward market systems. Factor analysis of responses from nearly 2000 participants across three studies is used to create and validate a multidimensional scale consisting of five distinct components of market attitudes. We assert that understanding within-subject variation in attitudes towards markets better informs analyses that relate market attitudes with economic behavior.

Suggested Citation

  • Goff, Sandra H. & Noblet, Caroline L., 2018. "Efficient, but immoral?: Assessing market attitudes as multidimensional," Economics Letters, Elsevier, vol. 170(C), pages 96-99.
    • Handle: RePEc:eee:ecolet:v:170:y:2018:i:c:p:96-99
    DOI: 10.1016/j.econlet.2018.05.020
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    References listed on IDEAS

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    More about this item

    Keywords

    Free markets; Market attitudes; Fairness; Factor analysis; Moral foundations theory;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods

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