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' beliefs about the future performance of a company. Third, we identify the types of narratives that investors find convincing …, we examine the use of narratives as a persuasive tool in the context of financial advice where advisors may hold … mechanisms that govern narrative persuasion. First, we show that advisors construct self-interested narratives and make them …
Persistent link: https://www.econbiz.de/10013486094
first elicit beliefs about the returns to active investing. We then generate exogenous variation in beliefs by providing …
Persistent link: https://www.econbiz.de/10013536190
We theoretically show that there is a fundamental disconnect between the disposition effect, i.e., investors’ tendency to sell winning assets too early and losing assets too late, and its common empirical measure, namely a positive difference between the proportion of gains and losses...
Persistent link: https://www.econbiz.de/10012628736
discuss the measurement of subjective beliefs, including the role of incentives and ways to reduce measurement error. We also …
Persistent link: https://www.econbiz.de/10012240454
A large literature studies subjective beliefs about economic facts using unincentivized survey questions. We devise … beliefs about average earnings by professional degree and average public school spending. Incentive provision does not impact … earnings beliefs, but improves school-spending beliefs. Response patterns suggest that the latter effect likely reflects …
Persistent link: https://www.econbiz.de/10011987028
Cash is an important means of transaction, generally assumed to be fungible. However, behavioral economics and consumer research show that "cash in hand", physically holding on to cash and then handing it away, affects purchasing decisions. I study how cash in hand influences decisions in a...
Persistent link: https://www.econbiz.de/10012039050
We review the recent literature on the determinants and effects of housing market expectations. We begin by providing an overview of existing surveys that elicit housing market expectations, and discuss how those surveys may be expanded in the future. We then document a number of facts about...
Persistent link: https://www.econbiz.de/10013170986
This paper reports on experiments regarding cheap talk games where senders attempt deception when their interests are not in conflict with those of the receiver. The amount of miscommunication is higher than in previous experimental findings on cheap talk games in situations where senders’ and...
Persistent link: https://www.econbiz.de/10012418635
We investigate the link between leadership, beliefs and pro-social behavior. This link is interesting because field … influenced by leaders (CEOs, politicians) and beliefs about others' behavior. Our framework is an experimental public goods game … with a leader. We find that leaders strongly shape their followers' initial beliefs and contributions. In later rounds …
Persistent link: https://www.econbiz.de/10010428834
. Women leave more on the bargaining table, conditional on their beliefs, which contributes to the lower disagreement and …
Persistent link: https://www.econbiz.de/10012387489