Role-reversal consistency : an experimental study of the Golden Rule
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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.
Costa-Gomes , M A , Ju , Y & Li , J 2019 , ' Role-reversal consistency : an experimental study of the Golden Rule ' , Economic Inquiry , vol. 57 , no. 1 , pp. 685-704 . https://doi.org/10.1111/ecin.12708
Copyright © 2018, Western Economic Association International. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1111/ecin.12708
DescriptionThe financial support from the Super Pump Priming Fund (currently named as RIS Fund) at the University of York is gratefully acknowledged.
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