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Bornhorst, Fabian; Ichino, Andrea; Kirchkamp, Oliver; … - C.E.P.R. Discussion Papers - 2010

We run an experiment in which students of different European nationalities are matched in groups of five and repeatedly choose with whom within their group they want to play a trust game. Participants observe of each other age, gender, nationality and number of siblings. The region of origin,...

Persistent link: https://www.econbiz.de/10008468504

CEO emotional intelligence and firms’ financial policies : Bayesian network method

Azouzi, Mohamed Ali; Jarboui, Anis - In: Contemporary economics 8 (2014) 1, pp. 5-24

The aim of this paper is to explore the determinants of firms’ financial policies according to the manager's psychological characteristics. More specifically, it examines the links between emotional intelligence, decision biases and the effectiveness of firms' financial policies. The article...

Persistent link: https://www.econbiz.de/10010403928

Overconfidence and endogenous information acquisition

Liang, Tian - In: China Finance Review International 3 (2013) February, pp. 5-25

Purpose – The purpose of this paper is to examine the implications of overconfidence for information acquisition and … acquisition is exogenous, and overconfidence worsens price quality. Therefore, it may be crucial to incorporate endogenous … information acquisition into models of overconfidence. …

Persistent link: https://www.econbiz.de/10010610514

Optimal Expectation

Brunnermeier, Markus K; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2004

This Paper introduces a tractable, structural model of subjective beliefs. Forward-looking agents care about expected future utility flows, and hence have higher current felicity if they believe that better outcomes are more likely. On the other hand, biased expectations lead to poorer decisions...

Persistent link: https://www.econbiz.de/10005124341

Overconfidence and Trading Volume

Glaser, Markus; Weber, Martin - C.E.P.R. Discussion Papers - 2003

hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, the better than average effect, illusion of … calibration literature and model overconfidence as underestimation of the variance of signals. The results hold even when we …

Persistent link: https://www.econbiz.de/10005656212

Self-Esteem, Shame and Personal Motivation

Dessí, Roberta; Zhao, Xiaojian - C.E.P.R. Discussion Papers - 2011

Evidence from psychology suggests that overconfidence is more important in North America than in Japan. The pattern is … the benefits of promoting initiative and new investments. Overconfidence and high sensitivity to shame emerge as …

Persistent link: https://www.econbiz.de/10009399711

Organizational and epistemic change : the growth of the art investment field

Coslor, Erica; Spaenjers, Christophe - 2013

What can studying the creation of knowledge tell us about how new technical fields emerge and develop? This paper shows how a knowledge community may be necessary to support the legitimacy of new products that undergo performance evaluation before purchase. Using historical and ethnographic data...

Persistent link: https://www.econbiz.de/10010389016

Chapter 7 The Formation of Social Preferences: Some Lessons from Psychology and Biology

Lvy-Garboua, Louis; Meidinger, Claude; Rapoport, Benot - In: Handbook of the economics of giving, altruism and …, (pp. 545-613). 2006

The goal of this paper is to draw some lessons for economic theory from research in psychology, social psychology and, more briefly, in biology, which purports to explain the formation of social preferences. We elicit the basic mechanisms whereby a variety of social preferences are determined in...

Persistent link: https://www.econbiz.de/10014023676

Is It Trust we Model? An Attempt to Calculate the Non-Calculative

Rosenkranz, Stephanie; Weitzel, Utz - C.E.P.R. Discussion Papers - 2005

In this paper we characterize a situation in which non-calculative trust has to play a role in the decision to cooperate. We then analyse the given situation in game theoretical terms and distinguish those aspects of players’ decisions that are cooperative from those that may be interpreted as...

Persistent link: https://www.econbiz.de/10005792217

Social Reinforcement: Cascades, Entrapment, and Tipping

Heal, Geoffrey; Kunreuther, Howard - In: American Economic Journal: Microeconomics 2 (2010) 1, pp. 86-99

The actions of different agents sometimes reinforce each other. Examples are network effects and the threshold models used by sociologists as well as (Harvey) Leibenstein's "bandwagon effects." We model such situations as a game with increasing differences, and show that tipping of equilibria,...

Persistent link: https://www.econbiz.de/10008615402

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