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Top-down or bottom-up? : disentangling channels of attention in risky choice
Engelmann, Jan; Hirmas, Alejandro; Weele, Joël J. van der - 2021
Economists have become increasingly interested in using attention to explain behavioral patterns both on the micro and macro level. This has resulted in several disparate theoretical approaches. Some, like rational inattention, assume a "top-down" model of executive optimization. Others, like...
Persistent link: https://www.econbiz.de/10012510861
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Impulsiveness moderates the effects of exogenous attention on the sensitivity to gains and losses in risky lotteries
Hirmas, Alejandro; Engelmann, Jan - 2022
Does attention have a causal impact on risky decisions? We address this question in a preregistered experiment in which participants accept or reject a series of mixed gambles while exogenously varying how information can be sampled. Specifically, in each trial participants observe the outcomes...
Persistent link: https://www.econbiz.de/10013332731
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Risk and loss aversion, price uncertainty and the implications for consumer search
Soetevent, Adriaan R.; Bruzikas, Tadas - 2016
Do the choices of consumers who search for a product's best price exhibit risk neutral, risk averse or loss averse risk attitudes? We study how in a problem of sequential search with costless recall the relation between a consumer's willingness to pay for continued search and the level of price...
Persistent link: https://www.econbiz.de/10011520488
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Committees as active audiences : reputation concerns and information
Swank, Otto H.; Visser, Bauke - 2018
payoffs and about his reputation for expertise. The state remains unobserved, even after the decision has been taken. In such … inconclusive environments, in equilibrium, a member's internal (peer) reputation is based on deliberation patterns, while member …'s external (market) reputation is based on the observed group decision. Either form of reputation concerns create strategic …
Persistent link: https://www.econbiz.de/10011895815
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Internet retailing as a marketing strategy
Janssen, Maarten C. W.; Noll, Rob van der - 2005
present for a pure Internet player,we show that these firms will start online retail channels under a much widerrange of … Internet retail channelthemselves. We also show that a low cost of building up an online retail channelor online shopping …
Persistent link: https://www.econbiz.de/10011343275
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Electronic commerce and retail channel substitution
Janssen, Maarten C. W.; Noll, Rob van der - 2002
We analyze a market where firms compete in a conventional and an electronicretail channel. Consumers easily compare prices online, but some incur purchaseuncertainties on the online channel. We investigate the market shares of the two retailchannels and the prices that are charged. We find that...
Persistent link: https://www.econbiz.de/10011326968
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Why are residents reluctant to consult attending physicians?
Swank, Otto H. - 2009
A physician performs two tasks: making diagnoses and determining treatments. To reduce medical error, residents are supposed to consult their supervisors when they face uncommon circumstances. However, recent research shows that residents are reluctant to do so. This paper presents a model that...
Persistent link: https://www.econbiz.de/10011378360
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Pricing, consumer search and the size of internet markets
Janssen, Maarten C. W.; Moraga-González, José Luis - 2000
Despite the mixed empirical evidence, many economists stillhold to the view that Internet will promote competition …
Persistent link: https://www.econbiz.de/10011303295
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Measuring biases in expectation formation
Peters, Florian; Kucinskas, Simas - 2018
We develop a general framework for measuring biases in expectation formation. The method is based on the insight that biases can be inferred from the response of forecast errors to past news. Empirically, biases are measured by flexibly estimating the impulse response function of forecast...
Persistent link: https://www.econbiz.de/10011869992
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A theory on media bias and elections
Sun, Junze; Schram, Arthur; Sloof, Randolph - 2019
rise in media bias affects the election outcome in a non-monotonic way, and reduces voter welfare by decreasing the …
Persistent link: https://www.econbiz.de/10012030647