Of Morals, Markets and Mice: A Comment on Falk and Szech

Friedrich Breyer and Joachim Weimann

No 4745, CESifo Working Paper Series from CESifo

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-codes: D01 D03 D63 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (6)

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