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Experimental economic summary paper - Essay Example

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9 March 2011. Does Studying Economics Inhibit Cooperation? Summary: This articles aims at studying the impact of study of economics on the cooperative behavior of individuals. Through various tests and games, the researchers have compared the behaviors of economists and non-economists on the scale of self interest…
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Experimental economic summary paper
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Experimental economic summary paper

Download file to see previous pages... 25 per cent of the non-economists called “all of the endowment” as fair investment whereas 75 per cent of them considered it to be “half or more” of the donation. The behavior of economics students was significantly different. To public account, they offered no more than 20 per cent of the donation. All non-economists said that they valued “fairness” in deciding about the investment whereas most of the economics students did not know what “fairness” is. Likewise, Carter and Irons (1991) who compared the behavior of economists and non-economists using an ultimatum bargaining game, found economists to be more complying with the characteristics of the self-interest model in the roles of both the allocator and the receiver than their non-economics counterparts. The charitable giving survey and results of the prisoner’s dilemma also supported the opinion that the likelihood of free riding is more profound in economists than non-economists. ...Download file to see next pagesRead More
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Experimental economics summary paper
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