Arbeitspapier
Trust, values and false consensus
Trust beliefs are heterogeneous across individuals and, at the same time, persistent across generations. We investigate one mechanism yielding these dual patterns: false consensus. In the context of a trust game experiment, we show that individuals extrapolate from their own type when forming trust beliefs about the same pool of potential partners - i.e., more (less) trustworthy individuals form more optimistic (pessimistic) trust beliefs - and that this tendency continues to color trust beliefs after several rounds of game-play. Moreover, we show that one's own type/trustworthiness can be traced back to the values parents transmit to their children during their upbringing. In a second closely-related experiment, we show the economic impact of mis-calibrated trust beliefs stemming from false consensus. Mis-calibrated beliefs lower participants' experimental trust game earnings by about 20 percent on average.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Discussion Papers ; No. 6916
- Classification
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Wirtschaft
Relation of Economics to Other Disciplines
- Subject
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trust
trustworthiness
culture
false consensus
Vertrauen
Soziale Werte
Wahrnehmung
Spieltheorie
Test
- Event
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Geistige Schöpfung
- (who)
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Butler, Jeffrey V.
Giuliano, Paola
Guiso, Luigi
- Event
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Veröffentlichung
- (who)
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Institute for the Study of Labor (IZA)
- (where)
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Bonn
- (when)
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2012
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Butler, Jeffrey V.
- Giuliano, Paola
- Guiso, Luigi
- Institute for the Study of Labor (IZA)
Time of origin
- 2012
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The false consensus effect disappears if representative information and monetary incentives are given
Capitalizing on the (false) consensus effect: Two tractable methods to elicit private information
Trust, trustworthiness and the consensus effect: An evolutionary approach
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Injunctions against false advertising
On the Interpretation of World Values Survey Trust Question: Global Expectations vs. Local Beliefs
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