Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96823
Authors: 
Breyer, Friedrich
Weimann, Joachim
Year of Publication: 
2014
Series/Report no.: 
CESifo Working Paper 4745
Abstract: 
A recent experimental study by Falk and Szech (Science, 2013) concludes that „markets erode moral values”. If this were true, economists, who have emphasized the efficiency enhancing effects of markets for centuries, would have to reconsider their judgments fundamentally. This would be no less than a revolution in normative economics. In this note we demonstrate that the claim made by Falk and Szech is unfounded and that their experimental results can be (and should be) interpreted in exactly the opposite way.
JEL: 
D01
D03
D63
Document Type: 
Working Paper

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