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Can integrity replace institutions? : theory and evidence
Aharonovitz, Gilad D.; Skuza, Nathan; Fahs, Faysal - 2009
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show … that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of …) trust, or (3) integrity, foster economic growth. We construct data of economic performance of social groups in Lebanon …
Persistent link: https://www.econbiz.de/10010265978
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The intergenerational transmission of risk and trust attitudes
Dohmen, Thomas; Falk, Armin; Huffman, David - 2008
preferences such as risk preference, and crucial beliefs about the world, such as trust. This paper provides evidence on the three …
Persistent link: https://www.econbiz.de/10010264365
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What Money Can Buy: How Market Exchange Promotes Values
Weber, Roberto A.; Zhang, Sili - 2023
We study consumers' concerns for the ideological values of their market counterparts and the implications of such concerns for the public promotion of values. Using a survey and online and laboratory experiments, we find that consumers are willing to pay premiums to exchange with counterparts...
Persistent link: https://www.econbiz.de/10014469347
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Can competition spoil reciprocity? A laboratory experiment
Bauernschuster, Stefan; Falck, Oliver; Große, Niels Daniel - 2010
This paper investigates how group membership and competition among trustors interact with trust and trustworthiness in … a laboratory one-shot trust game. To analyze these effects, we apply a 2x2 design. We induce group membership by letting …
Persistent link: https://www.econbiz.de/10010274051
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How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?
Roth, Christopher; Wohlfart, Johannes - 2018
Using a representative online panel from the US, we examine how individuals’ macroeconomic expectations causally affect their personal economic prospects and their behavior. To exogenously vary respondents’ expectations we provide them with different professional forecasts about the...
Persistent link: https://www.econbiz.de/10011887414
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Risk Exposure and Acquisition of Macroeconomic Information
Roth, Christopher; Settele, Sonja; Wohlfart, Johannes - 2020
We conduct an experiment with a representative sample from the US to study households' demand for macroeconomic information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for an expert forecast about the likelihood of a...
Persistent link: https://www.econbiz.de/10012314921
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Uncertainty and Information Acquisition: Evidence from Firms and Households
Mikosch, Heiner; Roth, Christopher; Sarferaz, Samad; … - 2021
We leverage the small open economy Switzerland as a testing ground for basic premises of macroeconomic models of endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater exposure to exchange rate movements than households,...
Persistent link: https://www.econbiz.de/10012799762
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The Effects of Monetary Policy: Theory with Measured Expectations
Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes - 2023
We study the effects of monetary policy on aggregate consumption combining a heterogeneous agent model with measured expectations under different policy counterfactuals. We express the consumption of non-hand-to-mouth households as a function of expectations only and elicit all expectations...
Persistent link: https://www.econbiz.de/10014290126
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Subjective Models of the Macroeconomy: Evidence from Experts and a Representative Sample
Andre, Peter; Pizzinelli, Carlo; Roth, Christopher; … - 2019
We propose a method to measure people’s subjective models of the macroeconomy. Using a sample of 2,200 households representative of the US population and a sample of more than 1,000 experts, we measure beliefs about how the unemployment rate and the inflation rate respond to four different...
Persistent link: https://www.econbiz.de/10012141051
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Subjective Models of the Macroeconomy : Evidence from Experts and a Representative Sample
Andre, Peter - 2019
We propose a method to measure people's subjective models of the macroeconomy. Using a sample of 2,200 households representative of the US population and a sample of more than 1,000 experts, we measure beliefs about how the unemployment rate and the inflation rate respond to four different...
Persistent link: https://www.econbiz.de/10012861422