The possibility that market interaction may erode moral values is a long-standing, but controversial, hypothesis in the social sciences, ethics, and philosophy. To date, empirical evidence on decay of moral values through market interaction has been scarce. We present controlled experimental evidence on how market interaction changes how human subjects value harm and damage done to third partie...

The Hippocratic oath which I have just administered to myself before you in all solemnity—an oath which was never administered to me at any stage of my career. None of you too, I guess, has ever been subjected to this or any such oath. Although the Hippocratic oath may look out of place in our midst, the noble sentiments and high ideals expressed therein, the guiding principles for doctors arc ...