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Do Consumers Acquire Information Optimally? Experimental Evidence from Energy Efficiency

La Nauze, Andrea; Myers, Erica - National Bureau of Economic Research - 2023

We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely-available information. We find consumers acquire information suboptimally; there is little...

Persistent link: https://www.econbiz.de/10014372499

A Model of Behavioral Manipulation

Acemoglu, Daron; Makhdoumi, Ali; Malekian, Azarakhsh; … - National Bureau of Economic Research - 2023

We build a model of online behavioral manipulation driven by AI advances. A platform dynamically offers one of n products to a user who slowly learns product quality. User learning depends on a product's "glossiness,' which captures attributes that make products appear more attractive than they...

Persistent link: https://www.econbiz.de/10014437003

Consumer Demand with Social Influences : Evidence from an E-Commerce Platform

Caoui, El Hadi; Farronato, Chiara; Horton, John J.; … - National Bureau of Economic Research - 2022

For some kinds of goods, rarity itself is valued. "Fashionable'" goods are demanded in part because they are unique. In this paper, we explore the economics of rare goods using auctions of limited-edition shoes held by an e-commerce platform. We model endogenous entry and bidding in multi-unit...

Persistent link: https://www.econbiz.de/10013362005

Platform Information Provision and Consumer Search : A Field Experiment

Fang, Lu; Chen, Yanyou; Farronato, Chiara; Yuan, Zhe; … - National Bureau of Economic Research - 2024

Despite substantial efforts to help consumers search in more intuitive ways, text search remains the predominant tool for product discovery online. In this paper, we explore the effects of visual and textual cues for search refinement on consumer search and purchasing behavior. We collaborate...

Persistent link: https://www.econbiz.de/10014486191

You Can Lead a Horse to Water : Spatial Learning and Path Dependence in Consumer Search

Hodgson, Charles; Lewis, Gregory - National Bureau of Economic Research - 2023

We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously searched objects to unsearched objects that are nearby in attribute space, generating path dependence in search sequences. The estimated model rationalizes patterns in data on...

Persistent link: https://www.econbiz.de/10014372454

Managing Mental Accounts : Payment Cards and Consumption Expenditures

Gelman, Michael; Roussanov, Nikolai - National Bureau of Economic Research - 2023

Does mental accounting matter for total consumption expenditures? We exploit a unique setting in which individuals exogenously received a new credit card, without requesting one. Using random variation in the time of receipt we show that individuals temporarily increase total consumption...

Persistent link: https://www.econbiz.de/10014337846

CHOICE – What Can Go Wrong?

McFadden, Daniel - National Bureau of Economic Research - 2023

The elegant economic picture of rational consumers achieving Pareto optimality through trade in decentralized self-organized markets is blurred by market imperfections and choices inconsistent with consumer self-interest. Behavioral economics has documented these errors in choice, and considered...

Persistent link: https://www.econbiz.de/10014250182

Quality Signaling and Demand for Renewable Energy Technology : Evidence from a Randomized Field Experiment

Coville, Aidan; Zivin, Joshua S. Graff; Reichert, Arndt R. - National Bureau of Economic Research - 2024

Solar technologies have been associated with private and social returns, but their technological potential often remains unachieved because of persistently low demand for high-quality products. In a randomized field experiment in Senegal, we assess the potential of three types of quality...

Persistent link: https://www.econbiz.de/10014544676

Households' Response to the Wealth Effects of Inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023

We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

Persistent link: https://www.econbiz.de/10014372429

Media Bias and Reputation

Gentzkow, Matthew - 2005

which firms slant their reports toward the prior beliefs of their customers in order to build a reputation for quality. Bias … quality when its reports conform to the consumer's prior expectations. We use this fact to build a model of media bias in … emerges in our model even though it can make all market participants worse off. The model predicts that bias will be less …

Persistent link: https://www.econbiz.de/10012467012

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