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  • GoldenRule2018_06_final

    Rights statement: 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.

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

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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<mark>Journal publication date</mark>01/2019
<mark>Journal</mark>Economic Inquiry
Issue number1
Volume57
Number of pages20
Pages (from-to)685-704
Publication StatusPublished
Early online date31/08/18
<mark>Original language</mark>English

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)

Bibliographic note

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.