Role-reversal consistency: an experimental study of the Golden Rule

Miguel A. Costa-Gomes, Yuan Ju, Jiawen Li

    Research output: Contribution to journalArticlepeer-review

    7 Citations (Scopus)
    1 Downloads (Pure)

    Abstract

    We report an experiment that asks whether people in a strategic situation behave according to the Golden Rule, that is, do not treat others in ways that they find disagreeable to themselves, a property that we call role‐reversal consistency. Overall, we find that over three quarters of the subjects are role‐reversal consistent. Regression analysis suggests that this finding is not driven by players maximizing their subjective expected monetary earnings given their stated beliefs about their opponents' behavior. We find that subjects' stated beliefs and actions reveal mild projection bias.
    Original languageEnglish
    Pages (from-to)685-704
    JournalEconomic Inquiry
    Volume57
    Issue number1
    Early online date31 Aug 2018
    DOIs
    Publication statusPublished - Jan 2019

    Keywords

    • Role-reversal consistency
    • The Golden Rule
    • Projection bias
    • Elicited beliefs

    Fingerprint

    Dive into the research topics of 'Role-reversal consistency: an experimental study of the Golden Rule'. Together they form a unique fingerprint.

    Cite this