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Economic uncertainty and subjective inflation expectations
Rossmann, Tobias - 2019
. Macroeconomists increasingly rely on survey data on subjective expectations. An innovative approach to measure aggregate uncertainty … exploits the rounding patterns in individuals' responses to survey questions on inflation expectations (Binder, 2017). This … inflation expectations. …
Persistent link: https://www.econbiz.de/10012034114
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Heterogeneous expectations among professional forecasters
Conrad, Christian; Lahiri, Kajal - 2023
Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity …. In this paper, we focus on expectations heterogeneity among professional forecasters. We first present stylized facts and … discuss theoretical explanations for heterogeneous expectations. We then provide an overview of the empirical evidence …
Persistent link: https://www.econbiz.de/10014472058
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More effort with less pay : on information avoidance, belief design and performance
Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2015
be captured by a model of optimally distorted expectations following Brunnermeier and Parker (2005). …
Persistent link: https://www.econbiz.de/10011284957
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More effort with less pay : on information avoidance, belief design and performance
Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2015 - June 2015, revised September 2015
self-selected information avoidance. All our findings can be captured by a model of optimally distorted expectations …
Persistent link: https://www.econbiz.de/10011340265
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Decomposing the disposition effect
Maier, Johannes K.; Fischer, Dominik Simon - 2021
We theoretically show that there is a fundamental disconnect be- tween 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 re-...
Persistent link: https://www.econbiz.de/10012648374
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Do robo-advisors make us better investors?
Back, Camila; Morana, Stefan; Spann, Martin - 2021
Investors increasingly can obtain assistance from "robo-advisors," artificial intelligence - enabled digitalized service agents imbued with anthropomorphic design elements that can communicate using natural language. The present article considers the impact of anthropomorphized robo-advisors on...
Persistent link: https://www.econbiz.de/10012500401
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An economic model of the meat paradox
Hestermann, Nina; Le Yaouanq, Yves; Treich, Nicolas - 2019
Many individuals have empathetic feelings towards animals but frequently consume meat. We investigate this "meat paradox" using insights from the literature on motivated reasoning in moral dilemmata. We develop a model where individuals form self-serving beliefs about the suffering of animals...
Persistent link: https://www.econbiz.de/10012034136
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More effort with less pay : on information avoidance, optimistic beliefs, and performance
Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2017
Recent behavioral models argue in favor of avoidance of instrumental information. We explore the role of information avoidance in a real-effort setting. Our experiment offers three main results. First, we confirm that preferences for avoidance of instrumental information exist, studying...
Persistent link: https://www.econbiz.de/10011751477
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A model of ideological thinking
Le Yaouanq, Yves - 2018
This paper develops a theory in which heterogeneity in political preferences produces a partisan disagreement about objective facts. A political decision involving both idiosyncratic preferences and scientific knowledge is considered. Voters form motivated beliefs in order to improve their...
Persistent link: https://www.econbiz.de/10011899691
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Do legal standards affect ethical concerns of consumers?
Danz, David; Engelmann, Dirk; Kübler, Dorothea - 2020
To address the impact of regulation on ethical concerns of consumers, we study the example of minimum wages. In our experimental market, consumers have monopsony power, firms set prices and wages, and workers are passive recipients of a wage payment. We find that the majority of consumers...
Persistent link: https://www.econbiz.de/10012236843