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Sensitivity of economists during market allocation

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  • Suttner, Johannes R.

Abstract

In this study, it was found that economists were sensitive to different commodities based on their attitudes in terms of fairness toward the price mechanism, whereas non-economists did not exhibit significant sensitivity. This sensitivity was so strong that no self-selection effect could be found in economists in the case of a survey of a basic commodity, whereas there was a clear self-selection effect with a luxury commodity. After one semester with intensive expo-sure to microeconomic theory, the market affinity of economists increased in both cases, but their sensitivity persisted. Surprisingly, it was the allocation mechanism of "first come, first served" and not the price mechanism that was affected more in terms of fairness. The latter reflects equal treatment in terms of general perceptions, thus this could be interpreted as an increased aversion to inequality among economists.

Suggested Citation

  • Suttner, Johannes R., 2014. "Sensitivity of economists during market allocation," CIW Discussion Papers 3/2014, University of Münster, Center for Interdisciplinary Economics (CIW).
    • Handle: RePEc:zbw:ciwdps:32014
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    More about this item

    Keywords

    attitude change; economics teaching; fairness; selection;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • R49 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Other

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