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disadvantages are dispersed over numerous periods. We provide novel experimental evidence for “concentration bias”, the tendency to … days in exchange for a bonus that is concentrated in time: concentration bias increases subjects’ willingness to work by 22 ….4% beyond what standard discounting models could account for. In additional conditions and a complementary experiment involving …
Persistent link: https://www.econbiz.de/10013232411
European countries for more than a decade, we estimate time-varying individual level bias in ‘survival expectations' (BSE) at …
Persistent link: https://www.econbiz.de/10013311581
Literature in economics and psychology on moral behaviour explores the contexts in which people act in ways that are consistent or inconsistent with their past actions. Such inconsistencies appear to violate economists' assumption of rational consumer behaviour. In this note we show that a...
Persistent link: https://www.econbiz.de/10012861419
We study the question whether a holder of standard essential patents (SEPs) should be allowed to choose the level in the value chain at which to offer a FRAND license to its SEPs. We give a pos-itive answer to this question for two reasons. First, the SEP holder and the social planner tend to...
Persistent link: https://www.econbiz.de/10013300871
We consider a streaming platform which carries content from various upstream content providers. Participating customers face personalized recommendations from the platform and consume a mix of content originating from each provider. We analyze when the platform uses its personalized...
Persistent link: https://www.econbiz.de/10012892194
We consider a consumption model that takes into account the valuation and demand uncertainties that consumers face while using access services. Typical examples of such services include telecommunication services, extended warranties for consumer electronics, and club memberships. We demonstrate...
Persistent link: https://www.econbiz.de/10013111994
This paper examines how skill-biased growth can generate economic fragmentation (income dis-parities) that give rise to social fragmentation (the adoption of increasingly incompatible social identities and values), which generate political fragmentation (the adoption of increasingly incompatible...
Persistent link: https://www.econbiz.de/10012859600
. This may lead to exaggerated conservatism in the voting decision (status quo bias). To investigate how complexity affects …
Persistent link: https://www.econbiz.de/10012892298
psychological channels underlying such a bias is scarce. We present a laboratory experiment designed to investigate the sunk cost …Evidence from hypothetical scenarios strongly suggests the existence of a sunk cost bias, the tendency to ‘throw good … bias and to test some prominent psychological mechanisms. Inspired by the hypothetical scenarios, we use a two …
Persistent link: https://www.econbiz.de/10013315181
I consider a market with two firms, a minority group of customers, and a bigoted (racist, ethnocentric, xenophobic, or sexist) majority group of customers. There exists a Nash equilibrium with full segregation in which a low-price firm serves only the minority and a high-price firm serves only...
Persistent link: https://www.econbiz.de/10014348139