Are social preferences related to market performance?
- Andreas Leibbrandt
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This paper combines laboratory with field data from professional sellers to study whether social preferences are related to performance in open-air markets. The data show that sellers who are more pro-social in a laboratory experiment are also more successful in natural markets: They achieve higher prices for similar quality, have superior trade relations and better abilities to signal trustworthiness to buyers. These findings suggest that social preferences play a significant role for outcomes in natural markets.
- Are social preferences related to market performance?
Volume 15, Issue 4 , pp 589-603
- Cover Date
- Print ISSN
- Online ISSN
- Springer US
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- Social preferences
- Market performance
- External validity
- Quality misrepresentation
- Open-air markets
- Industry Sectors
- Author Affiliations
- 1. Department of Economics, Monash University, Clayton, 3800, Victoria, Australia