Showing 1 - 10 of 635
This paper presents new evidence on the question: Why don’t consumers switch electricity contracts? By conducting a large-scale survey experiment with 3% of the Danish working-age population, I have gathered data on respondents’ factual knowledge of the retail electricity market, their...
Persistent link: https://www.econbiz.de/10015047305
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10010328793
In Switzerland, two key church institutions - the Conference of Swiss Bishops (CSB) and the Federation of Protestant Churches (FPC) - make public recommendations on how to vote for certain referenda. We leverage this unique situation to directly measure religious organizations' power to shape...
Persistent link: https://www.econbiz.de/10010328867
We examine the relationship between the prices paid by households and their shopping patterns measured in terms of shopping frequency and the range of stores visited. We use the TNS data which allows us to control for household heterogeneity. The main contribution of the paper is that we find...
Persistent link: https://www.econbiz.de/10010398583
For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms auctions if sellers are likely to have superior information...
Persistent link: https://www.econbiz.de/10010500427
A longstanding distinction in psychology is between implicit and explicit preferences. Implicit preferences are ordinarily measured by observing non-choice data, such as response time. In this paper we introduce a method for inferring implicit preferences directly from choices. The necessary...
Persistent link: https://www.econbiz.de/10011431240
Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. Theoretically, these strategies result in anticipated...
Persistent link: https://www.econbiz.de/10012599209
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011555503
We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...
Persistent link: https://www.econbiz.de/10011584855
We perform a (psychological) game-theoretic analysis of cheating in the setting proposed by Fischbacher & Föllmi-Heusi (2013). The key assumption, which we refer to as perceived cheating aversion, is that the decision maker derives disutility in proportion to the amount in which he is perceived...
Persistent link: https://www.econbiz.de/10011584907