Economics education and greed

Long Wang, Deepak Malhotra, J. Keith Murnighan

Research output: Contribution to journalArticle

  • 88 Citations

Abstract

The recent financial crisis, and repeated corporate scandals, raise serious questions about whether a business school education contributes to what some have described as a culture of greed. The dominance of economic-related courses in MBA curricula led us to assess the effects of economics education on greed in three studies using multiple methods. Study 1 found that economics majors and students who had taken multiple economics courses kept more money in a money allocation task (the Dictator Game). Study 2 found that economics education was associated with more positive attitudes toward greed and toward one's own greedy behavior. Study 3 found that a short statement on the societal benefits of self-interest led to more positive ratings of greed's moral acceptability, even for noneconomics students. These effects suggest that economics education may have serious, albeit unintended consequences on our students' attitudes toward greed.

LanguageEnglish (US)
Pages643-660
Number of pages18
JournalAcademy of Management Learning and Education
Volume10
Issue number4
DOIs
StatePublished - Dec 1 2011

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economic education
money
economics of education
economics
student
business school
scandal
school education
financial crisis
rating
curriculum
Economic education
Greed

ASJC Scopus subject areas

  • Education
  • Organizational Behavior and Human Resource Management

Cite this

Wang, L., Malhotra, D., & Murnighan, J. K. (2011). Economics education and greed. Academy of Management Learning and Education, 10(4), 643-660. DOI: 10.5465/amle.2009.0185
Wang, Long ; Malhotra, Deepak ; Murnighan, J. Keith. / Economics education and greed. In: Academy of Management Learning and Education. 2011 ; Vol. 10, No. 4. pp. 643-660
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Wang, L, Malhotra, D & Murnighan, JK 2011, 'Economics education and greed' Academy of Management Learning and Education, vol. 10, no. 4, pp. 643-660. DOI: 10.5465/amle.2009.0185

Economics education and greed. / Wang, Long; Malhotra, Deepak; Murnighan, J. Keith.

In: Academy of Management Learning and Education, Vol. 10, No. 4, 01.12.2011, p. 643-660.

Research output: Contribution to journalArticle

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Wang L, Malhotra D, Murnighan JK. Economics education and greed. Academy of Management Learning and Education. 2011 Dec 1;10(4):643-660. Available from, DOI: 10.5465/amle.2009.0185