Does Market Interaction Erode Moral Values?

Björn Bartling, Ernst Fehr and Yagiz Ozdemir
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Yagiz Ozdemir: University of Zurich

The Review of Economics and Statistics, 2023, vol. 105, issue 1, 226-235

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.

Date: 2023
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Working Paper: Does Market Interaction Erode Moral Values? (2020)
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