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 language | English |
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Pages (from-to) | 589 - 603 |
Number of pages | 15 |
Journal | Experimental Economics |
Volume | 15 |
Issue number | 4 |
DOIs | |
Publication status | Published - 2012 |