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Social Preferences and Social Curiosity

Weiwei Tasch () and Daniel Houser ()
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Weiwei Tasch: Interdisciplinary Center for Economic Science and Department of Economics, George Mason University
Daniel Houser: Interdisciplinary Center for Economic Science and Department of Economics, George Mason University

No 1067, Working Papers from George Mason University, Interdisciplinary Center for Economic Science

Abstract: Over the last two decades social preferences have been implicated in a wide variety of key economic behaviors. Here we investigate connections between social preferences and the demand for information about others’ economic decisions and outcomes, which we denote “social curiosity.†Our analysis is within the context of the inequality aversion model of Fehr and Schmidt (1999). Using data from laboratory experiments with sequential public goods games, we estimate social preferences at the individual level, and then correlate social preferences with one’s willingness to pay to make visible others’ contribution decisions. Our investigation enables us to shed light on how costs to knowing others’ economic decisions and outcomes impact decisions among people with different social preferences, and in particular the extent to which such costs impact the willingness for groups to cooperate.

Keywords: Laboratory Experiment; Inequality Aversion; Social Curiosity; Information; Sequential Public Goods Game (search for similar items in EconPapers)
JEL-codes: C91 D83 D91 H41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-ltv and nep-upt
Date: 2018-07
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