Public discourse and socially responsible market behavior

Björn Bartling, Vanessa Valero (), Roberto A. Weber and Lan Yao
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Vanessa Valero: University of Leicester, IMT-BS - DEFI - Département Data analytics, Économie et Finances - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]
Roberto A. Weber: UZH - Universität Zürich [Zürich] = University of Zurich
Lan Yao: Shanghai University of Finance and Economics

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Abstract: We investigate the causal impact of public discourse on socially responsible market behavior. Across three laboratory experiments, having market participants engage in public discourse generally increases market social responsibility. These positive impacts are robust to variation in several characteristics of the discourse. We provide evidence that discourse strengthens beliefs that others support socially responsible exchange. However, relaxing requirements to engage in discourse sharply reduces its effectiveness. Our findings suggest that campaigns encouraging discussion of appropriate market behavior can have sizable impacts on addressing inefficiencies due to market failures but that policies encouraging broad public engagement may be important.

Keywords: Market failure; Externalities; Social responsibility; Experiment; Communication; Public discourse (search for similar items in EconPapers)
Date: 2024-10
New Economics Papers: this item is included in nep-exp
Note: View the original document on HAL open archive server: https://hal.science/hal-04740097v1
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Published in American Economic Review, 2024, 114 (10), pp.3041-3074. ⟨10.1257/aer.20201361⟩

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Related works:
Journal Article: Public Discourse and Socially Responsible Market Behavior (2024)
Working Paper: Public Discourse and Socially Responsible Market Behavior (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04740097

DOI: 10.1257/aer.20201361

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