Does an economics education affect an individual's behavior? It is unclear whether differences in behavior are due to the education or whether those who choose to study economics are different. This issue is addressed using experimental evidence from the Trust Game where trusting and reciprocating behaviors can be measured. First, it is shown that economics students provide greater trusting investments and reciprocate more. Accounting for the selection effect, these effects are explained by those who choose to study economics and not directly from the education being provided. Thus, economists play well with others and these social preferences are not taught in the classroom.
BergJoyce, JohnDickhaut, and KevinMcCabe. 1995. “Trust, Reciprocity, and Social History.” Games and Economic Behavior10(1): 122–142.
2.
CoxJames C.2004. “How to Identify Trust and Reciprocity.” Games and Economic Behavior46: 260–281.
3.
FreyBruno S. and StephanMeier. 2003. “Are Political Economists Selfish and Indoctrinated? Evidence from a Natural Experiment.” Economic Inquiry41(3): 448–462.
4.
FrankBjorn and GüntherG. Schulze. 2000. “Does Economics Make Citizens Corrupt?” Journal of Economic Behavior & Organization43(1): 101-113.
5.
FrankRobert H., ThomasGilovich, and ReganDennis T.1993. “Does Studying Economics Inhibit Cooperation?” Journal of Economic Perspectives7(2): 159–171.
6.
HouserDaniel, ErteXiao, KevinMcCabe, and VernonSmith. 2008. “When Punishment Fails: Research on Sanctions, Intentions, and Non-Cooperation.” Games and Economic Behavior62: 509–532.
7.
MarwellGerald and AmesRuth E.1981. “Economists Free Ride, Does Anybody Else?” Journal of Public Economics15(3): 295–310.
8.
SongFei. 2008. “Trust and Reciprocity Behavior and Behavioral Forecasts: Individual versus Group Representatives.” Games and Economic Behavior62: 675–696.
9.
YezerAnthony M., GoldfarbRobert S., and PoppenPaul J.1996. “Does Studying Economics Discourage Cooperation? Watch What We Do, Not What We Say of How We Play.” Journal of Economic Perspectives10(1): 177–186.
