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Fair and Impartial Spectators in Experimental Economic Behavior

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  • Smith, Vernon L.
  • Wilson, Bart J.

Abstract

Our primary purpose in this article is to draw upon the literature of classical liberal economy to show how it informs and is informed by the results from experimental economics. Adam Smith's first great book, The Theory of Moral Sentiments , serves as our chief source of insights for understanding and interpreting modern laboratory research in terms of the conventions that govern human conduct in personal exchange.~ At the same time, we wish to demonstrate how today's economic experiments elucidate a reading of Adam Smith.

Suggested Citation

  • Smith, Vernon L. & Wilson, Bart J., 2014. "Fair and Impartial Spectators in Experimental Economic Behavior," Review of Behavioral Economics, now publishers, vol. 1(1-2), pages 1-26, January.
    • Handle: RePEc:now:jnlrbe:105.00000001
    DOI: 10.1561/105.00000001
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    Cited by:

    1. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    2. Pecorino, Paul & Van Boening, Mark, 2015. "Costly voluntary disclosure in a screening game," International Review of Law and Economics, Elsevier, vol. 44(C), pages 16-28.
    3. Tjøtta, Sigve, 2016. "You’ll never walk alone. An experimental study on receiving money," Working Papers in Economics 03/16, University of Bergen, Department of Economics.
    4. Deirdre Nansen McCloskey, 2017. "Writing The ‘Bourgeois Era’ Trilogy: A Reply To Eric Jones," Economic Affairs, Wiley Blackwell, vol. 37(2), pages 303-309, June.
    5. Khalil, Elias L., 2017. "Socialized view of man vs. rational choice theory: What does smith’s sympathy have to say?," Journal of Economic Behavior & Organization, Elsevier, vol. 143(C), pages 223-240.
    6. Schnellenbach, Jan & Schubert, Christian, 2014. "Behavioral public choice: A survey," Freiburg Discussion Papers on Constitutional Economics 14/03, Walter Eucken Institut e.V..
    7. Brandon Dupont, 2014. "Father Knows Best: Using Adam Smith to Teach Transactions Costs," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(4), pages 320-329, December.
    8. Vernon Smith, 2015. "Discovery processes, science, and ‘knowledge–how:’ Competition as a discovery procedure in the laboratory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(3), pages 237-245, September.
    9. Abbas Mirakhor, 2014. "The Starry Heavens Above and the Moral Law Within: On the Flatness of Economics," Econ Journal Watch, Econ Journal Watch, vol. 11(2), pages 186-193, May.
    10. Siri Terjesen & Amy Willis, 2016. "Experimental economics and business education: an interview with Nobel Laureate Vernon Lomax Smith," Small Business Economics, Springer, vol. 47(1), pages 261-275, June.
    11. Vernon L. Smith, 2018. "Adam Smith, scientist and evolutionist: modelling other-regarding behavior without social preferences," Journal of Bioeconomics, Springer, vol. 20(1), pages 7-21, April.
    12. Khalil, Elias, 2022. "Does Friendship Stem from Altruism? Adam Smith and the Distinction between Love-based and Interest-based Preferences," OSF Preprints ygpmq, Center for Open Science.

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