Role-Reversal Consistency:An Experimental Study of the Golden Rule

Costa-Gomes, Miguel A. and Ju, Yuan and Li, Jiawen (2019) Role-Reversal Consistency:An Experimental Study of the Golden Rule. Economic Inquiry, 57 (1). pp. 685-704. ISSN 0095-2583

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Abstract

We report an experiment that asks whether people in a strategic situation behave according to the Golden Rule, that is, do not treat others in ways that they find disagreeable to themselves, a property that we call role‐reversal consistency. Overall, we find that over three quarters of the subjects are role‐reversal consistent. Regression analysis suggests that this finding is not driven by players maximizing their subjective expected monetary earnings given their stated beliefs about their opponents' behavior. We find that subjects' stated beliefs and actions reveal mild projection bias. (JEL C78, C91)

Item Type:
Journal Article
Journal or Publication Title:
Economic Inquiry
Additional Information:
This is the peer reviewed version of the following article: Costa‐Gomes, M. A., Ju, Y. and Li, J. (2018), ROLE‐REVERSAL CONSISTENCY: AN EXPERIMENTAL STUDY OF THE GOLDEN RULE. Econ Inq. . doi:10.1111/ecin.12708 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/ecin.12708 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/2000/2002
Subjects:
ID Code:
126955
Deposited By:
Deposited On:
16 Aug 2018 15:16
Refereed?:
Yes
Published?:
Published
Last Modified:
24 Oct 2020 05:52