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Natural born economists?

  • Cipriani, Giam Pietro
  • Lubian, Diego
  • Zago, Angelo

We carried out a survey among a large group of undergraduate students of different disciplines to test whether the study of economics influences students' view on profit maximization and the market mechanism. We find that there are significant differences between economics students and the others, suggesting the presence of both a selection bias against the market system in non economics students and a treatment effect in economics students.

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Article provided by Elsevier in its journal Journal of Economic Psychology.

Volume (Year): 30 (2009)
Issue (Month): 3 (June)
Pages: 455-468

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Handle: RePEc:eee:joepsy:v:30:y:2009:i:3:p:455-468
Contact details of provider: Web page: http://www.elsevier.com/locate/joep

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  1. Bruno S. Frey & Stephan Meier, 2003. "Are Political Economists Selfish and Indoctrinated? Evidence from a Natural Experiment," Economic Inquiry, Western Economic Association International, vol. 41(3), pages 448-462, July.
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  7. Marwell, Gerald & Ames, Ruth E., 1981. "Economists free ride, does anyone else? : Experiments on the provision of public goods, IV," Journal of Public Economics, Elsevier, vol. 15(3), pages 295-310, June.
  8. Keane, Michael P, 1994. "A Computationally Practical Simulation Estimator for Panel Data," Econometrica, Econometric Society, vol. 62(1), pages 95-116, January.
  9. Robert H. Frank & Thomas Gilovich & Dennis T. Regan, 1993. "Does Studying Economics Inhibit Cooperation?," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 159-171, Spring.
  10. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages S285-300, October.
  11. Lorenzo Cappellari & Stephen P. Jenkins, 2003. "Multivariate probit regression using simulated maximum likelihood," United Kingdom Stata Users' Group Meetings 2003 10, Stata Users Group.
  12. Haucap, Justus & Just, Tobias, 2003. "Not Guilty? Another Look at the Nature and Nurture of Economics Students," Working Paper 8/2003, Helmut Schmidt University, Hamburg.
  13. Eckel, Catherine C. & Grossman, Philip J., 1996. "The relative price of fairness: gender differences in a punishment game," Journal of Economic Behavior & Organization, Elsevier, vol. 30(2), pages 143-158, August.
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