Markets and morals: an experimental survey study.

Area of Science:

• Behavioral Economics
• Social Psychology
• Public Policy

Background:

• Societies often ban market transactions due to moral concerns, even if mutually beneficial.
• Human organ payments are prohibited globally, despite critical shortages and patient deaths.
• Previous studies suggest information can increase support for regulated organ markets.

Purpose of the Study:

• To investigate if general market information alters attitudes toward "repugnant" trades.
• To determine if specific context information influences acceptance of price mechanisms in other controversial areas.
• To assess the potential for market-oriented approaches to reduce moral opposition and explore information cross-effects.

Main Methods:

• An online survey experiment involving 5,324 U.S. residents.
• Participants were provided with varying levels of information on market efficiency and specific trade contexts.
• Attitudes toward regulated payments for human organs and indoor prostitution were measured.

Main Results:

• General information on market efficiency did not affect acceptance of controversial markets.
• Acceptance of controversial markets appears contingent on them solving specific problems.
• Some cross-effects of information were observed, but mediated by respondent gender and religiosity.
• Women exposed to information on legalizing prostitution showed reduced support for regulated organ payments.

Conclusions:

• Moral opposition to controversial markets is not easily overcome by general economic information.
• Specific problem-solving contexts are crucial for market acceptance.
• Information's impact on controversial markets is complex and influenced by demographic factors like gender and religiosity.