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  Personal norms — and not only social norms — shape economic behavior

Bašić, Z., & Eugenio, V. (2020). Personal norms — and not only social norms — shape economic behavior.

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 Creators:
Bašić, Zvonimir1, Author              
Eugenio, Verrina1, Author              
Affiliations:
1Max Planck Institute for Research on Collective Goods, Max Planck Society, ou_2173688              

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Free keywords: personal norms, social norms, social image, reputation, elicitation method, normative conflict
 JEL: C91 - Laboratory, Individual Behavior
 JEL: D01 - Microeconomic Behavior: Underlying Principles
 JEL: D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
 JEL: D64 - Altruism; Philanthropy; Intergenerational Transfers
 JEL: D15 - Intertemporal Household Choice; Life Cycle Models and Saving
 Abstract: We propose a simple utility framework and design a novel two-part experiment to study the relevance of personal norms across various economic games and settings. We show that personal norms — together with social norms and monetary payoff — are highly predictive of individuals’ behavior. Moreover, they are: i) distinct from social norms across a series of economic contexts, ii) robust to an exogenous increase in the salience of social norms, and iii) complementary to social norms in predicting behavior. Our findings support personal norms as a key driver of economic behavior.

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 Dates: 2021-04-232020-10-27
 Publication Status: Published online
 Pages: -
 Publishing info: Bonn : Max Planck Institute for Research on Collective Goods, Discussion Paper 2020/25
 Table of Contents: -
 Rev. Type: -
 Identifiers: Other: 2020/25
 Degree: -

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