Public Discourse and Socially Responsible Market Behavior
Björn Bartling, Vanessa Valero, Roberto A. Weber, Lan Yao
American Economic Review · 2024 · Volume 114 · Issue 10
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
Design of Experiments: Laboratory, Group Behavior, Externalities, Search, Learning, Information and Knowledge, Communication, Belief, Unawareness, Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making, Socialist Institutions and Their Transitions: Consumer Economics, Health, Education and Training: Welfare, Income, Wealth, and Poverty, Corporate Culture, Diversity, Social Responsibility, Economic Sociology, Economic Anthropology, Language, Social and Economic Stratification
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