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Pré-publication, Document de travail Année : 2023

Why do oaths work? Image concerns and credibility in promise keeping

Résumé

We use a laboratory experiment to understand the channels through which honesty oaths can affect behavior and credibility. Using a game with asymmetric information in a financial market setting that captures some important features of advisor-investor interactions, we manipulate the common knowledge of the promise and investigate three non-pecuniary costs of breaking an oath: co-player image costs, audience-image costs, and self-image costs. For investors oaths are neither sufficient nor necessary to generate trust: ultimately investors rely on their experience. We link laboratory results to a survey we conducted in the Netherlands where oaths are required in the banking sector.
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Dates et versions

hal-04209489, version 1 (17-09-2023)

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  • HAL Id : hal-04209489 , version 1

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Sorravich Kingsuwankul, Chloe Tergiman, Marie Claire Villeval. Why do oaths work? Image concerns and credibility in promise keeping. 2023. ⟨hal-04209489⟩
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Dernière date de mise à jour le 28/04/2024
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