Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/268432 
Year of Publication: 
2023
Citation: 
[Journal:] The Review of Economics and Statistics [ISSN:] 1530-9142 [Volume:] 105 [Issue:] 1 [Publisher:] MIT Press [Place:] Cambridge MA [Year:] 2023 [Pages:] 226-235
Publisher: 
MIT Press, Cambridge MA
Abstract: 
The widespread use of markets leads to unprecedented material well-being in many societies. We study whether market interaction, as a side effect, erodes moral values. In an influential paper, Falk and Szech (2013) provide experimental data that seem to suggest that “market interaction erodes moral values.” Although we replicate their main treatment effect, we show that additional treatments are necessary to corroborate their conclusion. These treatments reveal that playing repeatedly, and not market interaction, causes the erosion of moral values. Our paper thus shows that neither Falk and Szech's data nor our data support the claim that markets erode morals.
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)
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