Why are Economists so Different? Nature, Nurture and Gender Effects in a Simple Trust Game

We analyze the behavior of 577 economics and law students in a simple binary trust experiment in class-room. While economists are both significantly less trusting and less trustworthy than law students, this difference is largely due to heterogeneity between female law and economics students. While female law and economics students are already different in nature (during the first term of study), the gap between them also widens more drastically over the course of their study compared to their male counterparts. This finding is rather critical as the detailed composition of students is typically neglected in most experiments.