Wie (un-)fair sind Ökonomen? – Neue empirische Evidenz zur Marktbewertung und Rationalität / How (un-)fair are economists? New empirical evidence on market valuation and rationality

Ruske René and Suttner Johannes

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2012, vol. 63, issue 1, 179-194

Abstract: The present document analyzes the differences between economists and noneconomists with respect to the valuation of various mechanisms for the allocation of a scarce resource, as well as the isolated influence of rational choice on the fairness judgment of economists. For this purpose, we conducted a survey based on Frey et al. (1993) and Haucap and Just (2010) among more than 600 students of different fields of studies from the University of Münster. As a result, we show that there are different attitudes depending on the field of study, especially with regard to the fairness of the market mechanism. This fact could mainly be explained by self-selection effects of economists. Furthermore, this article shows that indoctrination with rational choice had almost no effect on the judgment of economists.

Date: 2012
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DOI: 10.1515/ordo-2012-0114

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