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Behavioral Aspects of Price Setting, and Their Policy Implications
Rotemberg, Julio J. - 2008
This paper starts by discussing consumers' cognitive and emotional reaction to posted prices. Cognitively, some consumers do not appear to make effective use of price information to maximize their consumption-based utility. Emotionally, prices can induce regret and anger among consumers. The...
Persistent link: https://www.econbiz.de/10012464893
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Moral Rules and the Moral Sentiments : Toward a Theory of an Optimal Moral System
Kaplow, Louis - 2001
We examine how moral sanctions and rewards, notably the moral sentiments involving feelings of guilt and virtue, would … inculcating moral rules, constraints on the capacity to experience guilt and virtue, the fact that guilt and virtue often must be …
Persistent link: https://www.econbiz.de/10012470027
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Anger and Regulation
Tella, Rafael Di - 2009
We propose a model where voters experience an emotional cost when they observe a firm that has displayed insufficient concern for other people's welfare (altruism) in the process of making high profits. Even with few truly altruistic firms, an equilibrium may emerge where all firms pretend to be...
Persistent link: https://www.econbiz.de/10012463448
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The Demand for Social Interaction
Saffer, Henry - 2005
social interaction can also be explained in the model. The theory is tested with data from the General Social Survey (GSS …
Persistent link: https://www.econbiz.de/10012466790
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Nonparametric Identification and Estimation in a Generalized Roy Model
Bayer, Patrick - 2008
This paper considers nonparametric identification and estimation of a generalized Roy model that includes a non-pecuniary component of utility associated with each choice alternative. Previous work has found that, without parametric restrictions or the availability of covariates, all of the...
Persistent link: https://www.econbiz.de/10012464700
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Do Security Analysts Speak in Two Tongues?
Malmendier, Ulrike - 2007
Why do security analysts issue overly positive recommendations? We propose a novel approach to distinguish strategic motives (e.g., generating small-investor purchases and pleasing management) from nonstrategic motives (genuine overoptimism). We argue that nonstrategic distorters tend to issue...
Persistent link: https://www.econbiz.de/10012465530
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Self-Confidence and Social Interactions
Benabou, Roland - 2000
his self confidence. We first study situations where an informed principal chooses an incentive structure, such as …
Persistent link: https://www.econbiz.de/10012471184
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Economic Analysis of Social Interactions
Manski, Charles F. - 2000
rigor of modern economic analysis. Major theoretical developments in game theory, the economics of the family, and … endogenous growth theory have taken place. Economists have also performed new empirical research on social interactions, but the … empirical literature does not show progress comparable to that achieved in economic theory. This paper examines why and …
Persistent link: https://www.econbiz.de/10012471189
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The Cost of Friendship
Gompers, Paul - 2012
This paper explores two broad questions on collaboration between individuals. First, we investigate what personal characteristics affect people's desire to work together. Second, given the influence of these personal characteristics, we analyze whether this attraction enhances or detracts from...
Persistent link: https://www.econbiz.de/10012460518
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The Shape of Temptation : Implications for the Economic Lives of the Poor
Banerjee, Abhijit - 2010
This paper argues that the relation between temptations and the level of consumption plays a key role in explaining the observed behaviors of the poor. Temptation goods are defined to be the set of goods that generate positive utility for the self that consumes them, but not for any previous...
Persistent link: https://www.econbiz.de/10012462679