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Inconsistent time preferences and on-the-job search - when it pays to be naive
Fahn, Matthias; Seibel, Regina - 2019
We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...
Persistent link: https://www.econbiz.de/10012018295
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Consumer Loss Aversion and Scale-Dependent Psychological Switching Costs
Karle, Heiko; Schumacher, Heiner; Vølund, Rune - 2021
We consider the Salop (1979) model of product differentiation and assume that consumers are uncertain about the qualities and prices of firms' products. They can inspect all products at zero cost. A share of consumers is expectation-based loss averse. For these consumers, a purchase plan, which...
Persistent link: https://www.econbiz.de/10012658019
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Apparent Competition in Two-Sided Platforms
Guven, Gokhan; Inci, Eren; Russo, Antonio - 2017
We study a platform’s design of membership and transaction fees when sellers compete and buyers cannot observe the prices and features of goods without incurring search costs. The platform alleviates sellers’ competition by charging them transaction fees that increase with sales revenue, and...
Persistent link: https://www.econbiz.de/10011744966
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Inconsistent Time Preferences and On-the-Job Search - When it Pays to Be Naive
Fahn, Matthias - 2019
We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...
Persistent link: https://www.econbiz.de/10012871758
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Consumer Loss Aversion and Scale-Dependent Psychological Switching Costs
Karle, Heiko; Schumacher, Heiner; Vølund, Rune - 2021
We consider the Salop (1979) model of product differentiation and assume that consumers are uncertain about the qualities and prices of firms’ products. They can inspect all products at zero cost. A share of consumers is expectation-based loss averse. For these consumers, a purchase plan,...
Persistent link: https://www.econbiz.de/10013211121
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How Information Affects Support for Education Spending: Evidence from Survey Experiments in Germany and the United States
West, Martin R.; Woessmann, Ludger; Lergetporer, Philipp; … - 2016
education spending and teacher salaries falls when respondents receive information about existing levels. Treatment effects vary … by prior knowledge in a manner consistent with information effects rather than priming. Support for salary increases is …’ lower support for increases. Information about the tradeoffs between specific spending categories shifts preferences from …
Persistent link: https://www.econbiz.de/10011584891
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The political economy of higher education finance: how information and design affect public preferences for tuition
Lergetporer, Philipp; Wößmann, Ludger - 2019
support for tuition depends on information and design, we devise several survey experiments in representative samples of the … German electorate (N>19,500). The electorate is divided, with a slight plurality opposing tuition. Providing information on … opposition-reducing effect persists two weeks after treatment. Information on fiscal costs and unequal access does not affect …
Persistent link: https://www.econbiz.de/10012018227
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Do Party positions affect the public's policy preferences?
Grewenig, Elisabeth; Lergetporer, Philipp; Werner, Katharina - 2019
, implying endogeneity of policy preferences. The information treatment also affects non-partisan swing voters. …
Persistent link: https://www.econbiz.de/10012018270
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Does Ignorance of Economic Returns and Costs Explain the Educational Aspiration Gap? Evidence from Representative Survey Experiments
Lergetporer, Philipp; Werner, Katharina; Wößmann, Ludger - 2018
. Experimental provision of return and cost information significantly increases educational aspirations. However, it does not close … the aspiration gap as university graduates respond even more strongly to the information treatment. Persistent effects in … a follow-up survey indicate that participants indeed process and remember the information. Differences in economic …
Persistent link: https://www.econbiz.de/10011872057
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How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?
Roth, Christopher; Wohlfart, Johannes - 2018
exposure to macroeconomic risk, consistent with sticky information models in which people are inattentive, but understand how …
Persistent link: https://www.econbiz.de/10011887414