Social psychology and economics PDF
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SOCIAL PSYCHOLOGY AND ECONOMICS SOCIAL PSYCHOLOGY AND ECONOMICS Edited by David De Cremer Marcel Zeelenberg Tilburg University J. Keith Murnighan Northwestern University ~ ~~ I~~~ ra~~ i?G?l' P Press First published by Lawrence Erlbaum Associates, Inc., Publishers 10 Industrial Avenue Mahwah, New Jersey 07430 www.erlbaum.com This edition published 2012 by Psychology Press Psychology Press Psychology Press Taylor & Francis Group Taylor & Francis Group 711 Third Avenue 27 Church Road New York,NY 10017 Hove East Sussex BN3 2FA Copyright © 2006 by Lawrence Erlbaum Associates, Inc. All rights reserved. No part of this book may be reproduced in any form, by photostat, microform, retrieval system, or any other means, without the prior written permission of the publisher. Cover design by Kathryn Houghtaling Lacey Library of Congress Cataloging-in-Publication Data Social psychology and economics / edited by David De Cremer, Marcel Zeelenberg, and J. Keith Murnighan. p. cm. Includes bibliographical references and index. ISBN 0-8058-5755-9 (pbk. : alk. paper) ISBN 0-8058-5754-0 (case) 1. Economics-Psychological aspects. 2. Social psychology. 1. De Cremer, David. II. Zeclenberg, Marcel. III. Murnighan, J. Keith. HB74.P8.S565 2006 330.01 '9-dc22 2005058006 CIP This book is dedicated, with fondness and appreciation, to My parents, Brenda and Barbara Nathalie, Jimmie, and Storm Mom, Dad, and Beth Contents Preface xi I INTRODUCTION 1 Social Animals and Economic Beings: On Unifying Social Psychology and Economics 3 David De Cremer, Marcel Zeelenberg, and]. Keith Mumighan II PREFERENCES, UTILITY, AND CHOICE 2 Utility and the Psychology of Preference 17 David M. Messick 3 Conventional Behavior 31 Andrew Schotter 4 Social Decision Making in Fuzzy Situations: Motivated Information Processing and Strategic Choice 55 Carsten K. W. De Dreu and Wolfgang Steinel 5 How Regulatory Fit Creates Value 79 E. Tory Higgins vii viii CONTENTS III EMOTIONS 6 The Role of Moral Sentiments in Economic Decision Making 97 Timothy Ketelaar 7 Feeling Is for Doing: A Pragmatic Approach to the Study of Emotions in Economic Behavior 117 Marcel Zeelenberg and Ril< Pieters IV RECIPROCITY, COOPERATION, AND FAIRNESS 8 Tacit Coordination and Social Dilemmas: On the Importance of Self-Interest and Fairness 141 Eric van Dijl< and David De Cremer 9 Cooperation in Groups 155 Tom R. Tyler and David De Cremer 10 The Neuroeconomics of Personal and Interpersonal Decision Making 171 Kevin McCabe V SOCIAL DISTANCE 1 1 The Role of Mental Construal in Self-Control 193 Kentaro Fujita, Yaacov Trope, and Nira Liberman 12 How Institutions Affect Behavior: Insights From Economics and Psychology 213 Iris Bohnet 13 Gender Differences in the Propensity to Initiate Negotiations 239 Linda Babcocl<, Michele Gelfand, Deborah Small, and Heidi Stayn VI CHALLENGES TO SOCIAL PSYCHOLOGY AND ECONOMICS 1 4 Economics Wins, Psychology Loses, and Society Pays 263 Max H. Bazerman and Deepal< Malhotra CONTENTS ix 15 "Not All Self-Interest After All": Economics of Empathy-Induced Altruism 281 C. Daniel Batson 1 6 Contrasting Methods and Comparative Findings in Psychology and Economics 301 Rachel Croson VII COLLABORATIVE REFLECTIONS AND PROJECTIONS 17 Some of the Ancient History of Experimental Economics and Social Psychology: Reminiscences and Analysis of a Fruitful Collaboration 321 ]. Keith Mumighan and Alvin E. Roth Author Index 335 Subject Index 347 Preface The time is particularly right for a book like this one. For several years, an in spired group of economists have been paying close attention to the research in social psychology, and they have used it wisely and well in their own work. It is only recently that groups of social psychologists have also begun to pay close attention to economics, and only now are they incorporating its models and theories into their work. This book celebrates both areas of inquiry. The major avenue of ready access for social psychologists has been experi mental or behavioral economics. In other words, because economists have adopted a central methodological tool of social psychology, the laboratory experiment, social psychologists have seen how useful economic theory and economic analysis can be in social situations. This means that the balance of work that uses both fields, simultaneously, is getting more and more equal. It is our hope that soon economics is referenced in social psychological re search as much as social psychological research is referenced in economics. We also hope that the frequency of these cross-field citations continues and even accelerates its rapid growth. The initial impetus for the conference that formed the foundation for this book came from our lead editor, David De Cremer. He sketched the entire plan: to invite active researchers in the two fields, from Europe and America, who could talk to each other and would look forward to doing that; to invite junior colleagues to the conference to let them see how stimulating these in terdisciplinary collaborations can be; and to find an outstanding publisher who would print and market our work so that others could catch our same xi xii PREFACE illness (i.e., the desire to take advantage, simultaneously, of two tremen dously important disciplines). Our editorial collaboration was matched by our authors' dedication. We hope that the result provides a springboard to future bi- and interdisciplinary collaborations that have the inherent poten tial for truly path-breaking new discoveries. We would like to thank our contributors for their fine chapters; our finan cial supporters-the Kellogg School of Management, the Dispute Resolution Research Center at Kellogg, and the Oldendorff Research Institute of Til burg University-for their important assistance; and our colleagues, past, present, and future, for their critical inspiration. David De Cremer Marcel Zeelenberg ]. Keith Mumighan
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