Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146134
Authors: 
Engler, Yola
Kerschbamer, Rudolf
Page, Lionel
Year of Publication: 
2016
Series/Report no.: 
Working Papers in Economics and Statistics 2016-17
Abstract: 
For the trust game, recent models of belief-dependent motivations make opposite predictions regarding the correlation between back-transfers and second- order beliefs of the trustor: While reciprocity models predict a negative correlation, guilt-aversion models predict a positive one. This paper tests the hypothesis that the inconclusive results in previous studies investigating the reaction of trustees to their beliefs are due to the fact that reciprocity and guilt-aversion are behaviorally relevant for different subgroups and that their impact cancels out in the aggregate. We find little evidence in support of this hypothesis and conclude that type heterogeneity is unlikely to explain previous results.
JEL: 
C25
C70
C91
D63
D64
Document Type: 
Working Paper

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