Unformatted text preview: basis, and the results may not generalize to market or organizational
settings. Third, I used student-subjects for the experiment rather than experienced auditors
and managers. This may not be a material shortcoming for two reasons. First, previous
research concludes that student-subjects may be most appropriate in experiments that do
not incorporate mundane realism (Ball and Cech 1996). Second, Bazerman et al.’s (1997)
conclusion was based on research that used student-subjects, and it seems reasonable to
use the same subject pool to investigate the robustness of their conclusions. Another potential limitation of the research is that the experiment is devoid of context (i.e., without
mention of fraud, audit, or self-serving bias). As Haynes and Kachelmeier (1998) suggest,
context can affect subject behavior in important ways.
Future research could modify this setting to incorporate a more realistic context. One
possibility is to build on Kadous et al. (2001) to investigate how motivated reasoning might
affect auditor-subjects’ strategies,...
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