Are social preferences related to market performance?

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Abstract

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.
Original languageEnglish
Pages (from-to)589 - 603
Number of pages15
JournalExperimental Economics
Volume15
Issue number4
DOIs
Publication statusPublished - 2012

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