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Personal norms — and not only social norms — shape economic behavior

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  • Bašić, Zvonimir
  • Verrina, Eugenio

Abstract

We propose a simple utility framework and design a novel two-part experiment to study the relevance of personal norms across various economic games and settings. We show that personal norms — together with social norms and monetary payoff — are highly predictive of individuals’ behavior. Moreover, they are: (i) distinct from social norms across a series of economic contexts; (ii) robust to an exogenous increase in the salience of social norms; and (iii) complementary to social norms in predicting behavior. Our findings support personal norms as a key driver of economic behavior.

Suggested Citation

  • Bašić, Zvonimir & Verrina, Eugenio, 2024. "Personal norms — and not only social norms — shape economic behavior," Journal of Public Economics, Elsevier, vol. 239(C).
  • Handle: RePEc:eee:pubeco:v:239:y:2024:i:c:s0047272724001919
    DOI: 10.1016/j.jpubeco.2024.105255
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    4. Marco Catola & Simone D'Alessandro & Pietro Guarnieri & Veronica Pizziol, 2021. "Personal and social norms in a multilevel public goods experiment," Discussion Papers 2021/272, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    5. Merguei, Nitzan & Strobel, Martin & Vostroknutov, Alexander, 2022. "Moral opportunism as a consequence of decision making under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 624-642.
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    7. Lergetporer, Philipp & Rittmannsberger, Thomas & Werner, Katharina & Zeidler, Helen, 2025. "Anchoring Effects in the Elicitation of Multidimensional Beliefs: Evidence from a Representative Survey Experiment," IZA Discussion Papers 17931, Institute of Labor Economics (IZA).
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    10. Behnk, Sascha & Hao, Li & Reuben, Ernesto, 2022. "Shifting normative beliefs: On why groups behave more antisocially than individuals," European Economic Review, Elsevier, vol. 145(C).
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    12. Marco Catola & Simone D'Alessandro & Pietro Guarnieri & Veronica Pizziol, 2021. "Personal norms in the online public good game," Discussion Papers 2021/276, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.

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    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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