Artikel
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments asks participants to state beliefs explicitly but little is known about the causal relation between beliefs and actions. This paper discusses the possibility of creating exogenous instrumental variables for belief statements, by informing the agent about exogenous manipulations of the relevant events. We conduct trust game experiments where the amount sent back by the second player (trustee) is exogenously varied. The procedure allows detecting causal links from beliefs to actions under plausible assumptions. The IV-estimated effect is significant, confirming the causal role of beliefs.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Games and Economic Behavior ; ISSN: 0899-8256 ; Volume: 88 ; Year: 2014 ; Pages: 298-309 ; Amsterdam: Elsevier
- Klassifikation
-
Wirtschaft
Noncooperative Games
Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
Design of Experiments: Laboratory, Individual
Expectations; Speculations
- Thema
-
social capital
trust game
instrumental variables
belief elicitation
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Costa-Gomes, Miguel A.
Huck, Steffen
Weizsäcker, Georg
- Ereignis
-
Veröffentlichung
- (wer)
-
Elsevier
- (wo)
-
Amsterdam
- (wann)
-
2014
- DOI
-
doi:10.1016/j.geb.2014.10.006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Costa-Gomes, Miguel A.
- Huck, Steffen
- Weizsäcker, Georg
- Elsevier
Entstanden
- 2014
Ähnliche Objekte (12)
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Matching donations without crowding out? Some theoretical considerations and a field experiment
Von Seerosen, dem Coronavirus und guten Entscheidungen
Auch die Verhaltensökonomie muss aus der Corona-Krise lernen
What Behavioural Economics must learn from the coronavirus crisis
More effort with less pay: On information avoidance, optimistic beliefs, and performance
Absent-minded drivers in the lab: Testing Gilboa's model
Matched fundraising: evidence from a natural field experiment
Moral cost, commitment, and committee size
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Matching donations without crowding out? Some theoretical considerations and a field experiment
Von Seerosen, dem Coronavirus und guten Entscheidungen
Auch die Verhaltensökonomie muss aus der Corona-Krise lernen
What Behavioural Economics must learn from the coronavirus crisis
More effort with less pay: On information avoidance, optimistic beliefs, and performance
Absent-minded drivers in the lab: Testing Gilboa's model
Matched fundraising: evidence from a natural field experiment
Moral cost, commitment, and committee size
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: Creating instrumental variables to estimate the causal effect
Beliefs and actions in the trust game: creating instrumental variables to estimate the causal effect
Matching donations without crowding out? Some theoretical considerations and a field experiment
Von Seerosen, dem Coronavirus und guten Entscheidungen
Auch die Verhaltensökonomie muss aus der Corona-Krise lernen
What Behavioural Economics must learn from the coronavirus crisis
More effort with less pay: On information avoidance, optimistic beliefs, and performance
Absent-minded drivers in the lab: Testing Gilboa's model
Matched fundraising: evidence from a natural field experiment