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Book/Printed Material The behavioralist meets the market measuring social preferences and reputation effects in actual transactions

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Title

  • The behavioralist meets the market measuring social preferences and reputation effects in actual transactions

Summary

  • "The role of the market in mitigating and mediating various forms of behavior is perhaps the central issue facing behavioral economics today. This study designs a field experiment that is explicitly linked to a controlled laboratory experiment to examine whether, and to what extent, social preferences influence outcomes in actual market transactions. While agents drawn from a well-functioning marketplace behave in accord with social preference models in tightly controlled laboratory experiments, when observed in their naturally occurring settings their behavior approaches what is predicted by self-interest theory. In the limit, much of the observed behavior in the marketplace that is consistent with social preferences is due to reputational concerns: suppliers who expect to have future interactions with buyers provide higher product quality only when the buyer can verify quality via a third-party certifier. The data also speak to theories of how reputation effects enhance market performance. In particular, reputation and the monitoring of quality are found to be complements, and findings suggest that the private market can solve the lemons problem through third party verification"--National Bureau of Economic Research web site.

Names

  • List, John A., 1968-
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2005.

Headings

  • -  Commerce--Social aspects
  • -  Consumers' preferences
  • -  Economics--Psychological aspects
  • -  Markets--Social aspects

Notes

  • -  Title from PDF file as viewed on 9/28/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005620322

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

List, John A, and National Bureau Of Economic Research. The Behavioralist Meets the Market Measuring Social Preferences and Reputation Effects in Actual Transactions. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. https://www.loc.gov/item/2005620322/.

APA citation style:

List, J. A. & National Bureau Of Economic Research. (2005) The Behavioralist Meets the Market Measuring Social Preferences and Reputation Effects in Actual Transactions. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://www.loc.gov/item/2005620322/.

MLA citation style:

List, John A, and National Bureau Of Economic Research. The Behavioralist Meets the Market Measuring Social Preferences and Reputation Effects in Actual Transactions. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. Retrieved from the Library of Congress, <www.loc.gov/item/2005620322/>.