Convertible local currency and trust: ‘It’s Not You, It’s Me’ – A field experiment in the French Basque Country

2020 ◽  
Vol 35 (2) ◽  
pp. 105-120
Author(s):  
Hayyan Alia ◽  
Eli Spiegelman
Keyword(s):  
Field Experiment ◽  
Experimental Economics ◽  
Strong Evidence ◽  
Basque Country ◽  
Trust Game ◽  
Local Currency ◽  
Economics Literature ◽  
Community Currencies ◽  
Weak Evidence ◽  
Community Currency

We present a field experiment investigating the mechanism by which community currencies enhance trust. Our question is the following: do I trust more when using a community currency because I am a trusting-type person or because I think that you are trustworthy? We call the former preference-based trust; while the latter is belief-based trust. We apply a modification of the standard trust game from the experimental economics literature to disentangle these mechanisms. Player A has to choose whether or not to trust player B, and player B can either reciprocate that trust or not. Our innovation is in experimentally separating the currency in which the game is played ( effective currency), from the currency preferred by the participant ( preferred currency). If the mechanism is preference-based, then preferred currency will determine trust more than effective; if it is belief-based, then the effective currency will be determinant. We find strong evidence of the preference-based mechanism of community currencies on trust, and only weak evidence of the belief-based mechanism.

scholarly journals Psychopathy and Economic Behavior Among Prison Inmates: An Experiment

2021 ◽  
Vol 12 ◽  
Author(s):  
Loukas Balafoutas ◽  
Aurora García-Gallego ◽  
Nikolaos Georgantzis ◽  
Tarek Jaber-Lopez ◽  
Evangelos Mitrokostas
Keyword(s):  
Social Behavior ◽  
Field Experiment ◽  
Experimental Economics ◽  
Economic Behavior ◽  
Self Report ◽  
Trust Game ◽  
Prison Inmates ◽  
Equivalence Test ◽  
Main Hypothesis ◽  
Distributional Preferences

This paper investigates whether there is a connection between psychopathy and certain manifestations of social and economic behavior, measured in a lab-in-the-field experiment with prison inmates. In order to test this main hypothesis, we let inmates play four games that have often been used to measure prosocial and antisocial behavior in previous experimental economics literature. Specifically, they play a prisoner's dilemma, a trust game, the equality equivalence test that elicits distributional preferences, and a corruption game. Psychopathy is measured by means of the Levenson Self-Report Psychopathy Scale (LSRP) questionnaire, which inmates filled out after having made their decisions in the four games. We find that higher scores in the LSRP are significantly correlated with anti-social behavior in the form of weaker reciprocity, lower cooperation, lower benevolence and more bribe-oriented decisions in the corruption game. In particular, not cooperating and bribe-maximizing decisions are associated with significantly higher LSRP primary and LSRP secondary scores. Not reciprocating is associated with higher LSRP primary and being spiteful with higher LSRP secondary scores.

Community Currency in the United States: The Social Environments in Which it Emerges and Survives

2005 ◽  
Vol 37 (9) ◽  
pp. 1565-1587 ◽  
Author(s):  
Ed Collom
Keyword(s):  
United States ◽  
Active Regions ◽  
The United States ◽  
Population Based ◽  
Social Environments ◽  
Community Currencies ◽  
Community Currency ◽  
Census 2000 ◽  
Higher Educational Attainment ◽  
Employment Sectors

Community currency originated as a means to empower the economically marginalized. This paper studies the US population of community currency systems using locally printed money. Eighty-two systems are identified that have been attempted in the United States since 1991. Internet searches and contact with system coordinators indicate that only 20.7% of all systems are active. Regions in which they occur are described; more than one quarter are in Pacific states. City-level Census 2000 data are employed in analyses of environmental conduciveness to determine in which types of social environments local currencies emerge and survive within. Social movement theory is engaged to identify general, population-based resources for local movements. Economic marginality and labor-market-independence hypotheses are also formulated and tested. The major findings indicate that cities with local currencies are characterized by populations with lower household incomes, higher poverty rates, higher unemployment rates, and larger self-employment sectors. Evidence is also presented indicating that community currencies tend to survive in places with younger populations, higher educational attainment, fewer married people, and less residential stability. Implications concerning the future of the community currency movement and its ability to empower the marginalized are drawn.

scholarly journals Using Experimental Economics to Measure Social Capital and Predict Financial Decisions

2005 ◽  
Vol 95 (5) ◽  
pp. 1688-1699 ◽  
Author(s):  
Dean S Karlan
Keyword(s):  
Social Capital ◽  
Public Goods ◽  
Experimental Economics ◽  
External Validity ◽  
Credit Markets ◽  
Trust Game ◽  
Information Asymmetries ◽  
Group Lending ◽  
Financial Decisions

Questions remain as to whether results from experimental economics are generalizable to real decisions in nonlaboratory settings. Furthermore, questions persist about whether social capital helps mitigate information asymmetries in credit markets. I examine whether behavior in two laboratory games, Trust and a Public Goods, predicts loan repayments to a Peruvian group-lending microfinance program. Since this program relies on social capital to enforce repayment, this tests the external validity of the games. Individuals identified as “trustworthy” by the Trust Game are indeed less likely to default on their loans. No similar support is found for the game's identification of “trusting” individuals.

scholarly journals Chimpanzees trust conspecifics to engage in low-cost reciprocity

2015 ◽  
Vol 282 (1801) ◽  
pp. 20142803 ◽  
Author(s):  
Jan M. Engelmann ◽  
Esther Herrmann ◽  
Michael Tomasello
Keyword(s):  
Social Interactions ◽  
Pan Troglodytes ◽  
Strong Evidence ◽  
Low Cost ◽  
Trust Game ◽  
The Social ◽  
Over Time

Many of humans' most important social interactions rely on trust, including most notably among strangers. But little is known about the evolutionary roots of human trust. We presented chimpanzees ( Pan troglodytes ) with a modified version of the human trust game—trust in reciprocity—in which subjects could opt either to obtain a small but safe reward on their own or else to send a larger reward to a partner and trust her to reciprocate a part of the reward that she could not access herself. In a series of three studies, we found strong evidence that in interacting with a conspecific, chimpanzees show spontaneous trust in a novel context; flexibly adjust their level of trust to the trustworthiness of their partner and develop patterns of trusting reciprocity over time. At least in some contexts then, trust in reciprocity is not unique to humans, but rather has its evolutionary roots in the social interactions of humans' closest primate relatives.

scholarly journals Strong evidence for protein epistasis, weak evidence against it

2014 ◽  
Vol 111 (15) ◽  
pp. E1450-E1450 ◽  
Author(s):  
D. D. Pollock ◽  
R. A. Goldstein
Keyword(s):  
Strong Evidence ◽  
Weak Evidence

scholarly journals A review of the primary nutritional and environmental factors associated with Parkinson’s disease

2021 ◽  
Vol 10 (2) ◽  
Author(s):  
Eleanor Considine ◽  
Lucy Yin ◽  
Mitra Hartmann
Keyword(s):  
Parkinson’S Disease ◽  
Parkinson's Disease ◽  
Environmental Factors ◽  
Strong Evidence ◽  
Neuroprotective Effect ◽  
Neuroprotective Effects ◽  
Nutritional Factors ◽  
Weak Evidence ◽  
Increased Risk ◽  
System Disorder

Parkinson’s disease is a progressive nervous system disorder that produces both motor and nonmotor symptoms. This literature review begins by examining evidence for several possible origins for the disease:  does it begin in the brain and progress to the gut, or vice versa, or does it begin in both places concurrently?  Next, we examine several environmental factors that have been shown to either increase or decrease risk of Parkinson’s disease. These are primarily nutritional factors, specifically caffeine, nicotine, and dairy products. Studies in both animals and humans provide weak evidence that increased consumption of low fat dairy is associated with an increased risk of Parkinson’s disease development. Additionally, there is strong evidence that nicotine has a neuroprotective effect which also lowers the risk.  Finally, there is similarly strong evidence that caffeine exerts neuroprotective effects which lower the overall risk of developing Parkinson’s disease.

Wealth Effects Of Housing Market And Stock Market On Outbound Tourism In Singapore

2020 ◽  
Author(s):  
Chew Ging Lee
Keyword(s):  
Stock Market ◽  
Public Housing ◽  
Strong Evidence ◽  
Information Criterion ◽  
Wealth Effect ◽  
Wealth Effects ◽  
Housing Wealth ◽  
Weak Evidence ◽  
Housing Wealth Effect ◽  
The Government

This research note investigates the effects of stock market wealth and housing wealth on the demand for international tourism by the residents of Singapore while controlling for other important determinants for outbound tourism. The empirical results suggest that there are weak evidence to support the presence of stock market wealth effect and strong evidence to support the presence of housing wealth effect on outbound tourism. Weak evidence of stock market wealth effect is observed because the model derived from Akaike Information Criterion does not find significant effect of stock market wealth, but the model derived from Schwartz Criterion shows that positive stock market wealth effect is present. Strong evidence of housing wealth effect is observed because models estimated with both criteria show that housing wealth has negative effect on such consumption. The conclusion explains why the importance of public housing and the government intervention in public housing in Singapore lead to such negative housing wealth effect.

scholarly journals Weak Evidence of Regeneration Habitat but Strong Evidence of Regeneration Niche for a Leguminous Shrub

PLoS ONE ◽  
2015 ◽  
Vol 10 (6) ◽  
pp. e0130886 ◽  
Author(s):  
Florian Delerue ◽  
Maya Gonzalez ◽  
Richard Michalet ◽  
Sylvain Pellerin ◽  
Laurent Augusto
Keyword(s):  
Strong Evidence ◽  
Regeneration Niche ◽  
Weak Evidence

EXTERNAL VALIDITY AND LIBRARIES OF PHENOMENA: A CRITIQUE OF GUALA'S METHODOLOGY OF EXPERIMENTAL ECONOMICS

2011 ◽  
Vol 27 (3) ◽  
pp. 247-271 ◽  
Author(s):  
Martin K. Jones
Keyword(s):  
Experimental Economics ◽  
External Validity ◽  
Economics Literature ◽  
Radical Ideas

Francesco Guala has developed some novel and radical ideas on the problem of external validity, a topic that has not received much attention in the experimental economics literature. In this paper I argue that his views on external validity are not justified and the conclusions which he draws from these views, if widely adopted, could substantially undermine the experimental economics enterprise. In rejecting the justification of these views, the paper reaffirms the importance of experiments in economics.

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