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Everyday econometricians : selection neglect and overoptimism when learning from others
Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019
degree of bias due to selection neglect increases when other decision makers become more informed, or become more rational …
Persistent link: https://www.econbiz.de/10011982107
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It's not my fault! : self-confidence and experimentation
Hestermann, Nina; Le Yaouanq, Yves - 2018 - Current draft: October 8, 2018
We study the inference and experimentation problem of an agent in a situation where the outcomes depend on the individual's intrinsic ability and on an external variable. We analyze the mistakes made by decision-makers who hold inaccurate prior beliefs about their ability. Overconfident...
Persistent link: https://www.econbiz.de/10011930663
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The impact of social media on belief formation
Schwarz, Marco - 2017
Social media are becoming increasingly important in our society and change the way people communicate, how they acquire information, and how they form beliefs. Experts are concerned that the rise of social media may make interaction and information exchange among like-minded individuals more...
Persistent link: https://www.econbiz.de/10011762816
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Peer effects heterogeneity and social networks in education
Shkoza, Livia; Uysal, Selver Derya; Pohlmeier, Winfried - 2023
This study focuses on the role of heterogeneity in network peer effects by accounting for network-specific factors and different driving mechanisms of peer behavior. We propose a novel Multivariate Instrumental Variable (MVIV) estimator which is consistent for a large number of networks keeping...
Persistent link: https://www.econbiz.de/10014496412
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No inventor is an island: social connectedness and the geography of knowledge flows in the US
Diemer, Andreas; Regan, Tanner - 2020
Persistent link: https://www.econbiz.de/10012487139
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Behavioral biases in marketing
Guhl, Daniel; Klapper, Daniel; Massner, Katharina; … - 2017
Psychology and economics (the mixture of which is known as behavioral economics) are two fundamental disciplines underlying marketing. Various marketing studies document the non-rational behavior of consumers, even though behavioral biases might not always be consistently termed or formally...
Persistent link: https://www.econbiz.de/10011762602
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Is local bias a cross-border phenomenon? : evidence from individual investors’ international asset allocation
Baltzer, Markus; Stolper, Oscar; Walter, Andreas - 2013
stocks (local bias). We hypothesize that individual investors’ local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … display a significantly lower foreign investment bias towards investment opportunities in that country and (ii) that this drop …
Persistent link: https://www.econbiz.de/10009740268
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Truly costly search and word-of-mouth communication
Atayev, Atabek - 2021
friends via word-of-mouth (WOM) communication. How do sellers’ market power react to a very large increase in the number of …
Persistent link: https://www.econbiz.de/10012671888
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Getting it right : communication, voting, and collective truth finding
Burdea, Valeria; Woon, Jonathan - 2023
and statements, and we investigate whether communication improves information aggregation and the accuracy of group … decisions. Our findings suggest that the effect of communication depends on the underlying accuracy of individual judgments …. Communication improves accuracy when individuals tend to be incorrect, but diminishes it when individuals are likely to be correct …
Persistent link: https://www.econbiz.de/10014495051
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Persuasion against self-control problems
Wangenheim, Jonas von - 2018
I derive a social planner's optimal information design in an environment with quasi-hyperbolic discounting consumers without commitment. Consumption induces instantaneous utility, but unknown delayed cost. Consumers may or may not acquire additional costless information on the cost parameter....
Persistent link: https://www.econbiz.de/10011902726