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The impact of markets on moral reasoning: Evidence from an online experiment

Author

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  • Gehrlein, Jonas
  • Crede, Ann-Kathrin
  • Adrian, Nana

Abstract

This paper investigates the impact of markets on moral reasoning. Whereas the current literature focuses on morally relevant decisions that arise in markets, little is known about whether the exposition to markets shapes subsequent moral reasoning. To close this gap, we run a large-scale online experiment with 3 conditions: In Baseline, participants make a choice in a moral dilemma. In the other two conditions, participants are exposed to either a Non-market or Market environment, before facing the identical choice in the moral dilemma. We hypothesize that being exposed to Market induces cost-benefit considerations, which translate into modified reasoning in the subsequent moral dilemma. Compared to the baseline distribution, we indeed find a substantial effect in Market. However, similar choices can be observed in Non-market. We discuss potential explanations for these results, and suggest avenues for future research.

Suggested Citation

  • Gehrlein, Jonas & Crede, Ann-Kathrin & Adrian, Nana, 2020. "The impact of markets on moral reasoning: Evidence from an online experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).
    • Handle: RePEc:eee:soceco:v:87:y:2020:i:c:s221480431930535x
    DOI: 10.1016/j.socec.2020.101577
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    Cited by:

    1. Choi, Ginny Seung & Storr, Virgil Henry, 2023. "The morality of markets in theory and empirics," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 590-607.

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    More about this item

    Keywords

    Morality; Markets; Deontology; Consequentialism; Otree; Online experiment;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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