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Trust, Values, And False Consensus

Author

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  • Jeffrey V. Butler
  • Paola Giuliano
  • Luigi Guiso

Abstract

Individuals’ beliefs about the trustworthiness of a generic member of the population are both heterogeneous across individuals and persistent across generations. We investigate one mechanism yielding these dual patterns: false consensus. In the context of a trust game experiment, we show that the relationship between behavior and beliefs is consistent with individuals extrapolating their trust beliefs from their own trustworthiness and that this tendency continues even after substantial learning opportunities. We go on to provide evidence suggesting that one's own trustworthiness can be traced back to the values parents transmit to their children during their upbringing.

Suggested Citation

  • Jeffrey V. Butler & Paola Giuliano & Luigi Guiso, 2015. "Trust, Values, And False Consensus," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56, pages 889-915, August.
  • Handle: RePEc:wly:iecrev:v:56:y:2015:i::p:889-915
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    File URL: http://hdl.handle.net/10.1111/iere.12125
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    References listed on IDEAS

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    1. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, pages 171-178.
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    Cited by:

    1. Jin, Dawei & Wang, Haizhi & Wang, Peng & Yin, Desheng, 2016. "Social trust and foreign ownership: Evidence from qualified foreign institutional investors in China," Journal of Financial Stability, Elsevier, pages 1-14.
    2. repec:eee:touman:v:52:y:2016:i:c:p:287-296 is not listed on IDEAS
    3. Daniele, Gianmarco & Geys, Benny, 2015. "Interpersonal trust and welfare state support," European Journal of Political Economy, Elsevier, pages 1-12.
    4. repec:eee:jeborg:v:136:y:2017:i:c:p:186-202 is not listed on IDEAS
    5. Proto, Eugenio & Sgroi, Daniel, 2017. "Biased beliefs and imperfect information," Journal of Economic Behavior & Organization, Elsevier, pages 186-202.
    6. Berggren, Niclas & Nilsson, Therese, 2015. "Globalization and the transmission of social values: The case of tolerance," Journal of Comparative Economics, Elsevier, pages 371-389.
    7. Erixson, Oscar & Ohlsson, Henry, 2014. "Estate division: Equal sharing as choice, social norm, and legal requirement," Working Paper Series 2014:1, Uppsala University, Department of Economics.
    8. repec:eee:jeborg:v:137:y:2017:i:c:p:132-144 is not listed on IDEAS

    More about this item

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D1 - Microeconomics - - Household Behavior
    • Z1 - Other Special Topics - - Cultural Economics

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