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"Buy-It-Now" or "Sell-It-Now" auctions : effects of changing bargaining power in sequential trading mechanisms

Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2015

at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price … prior to the auction; whereas in the "Sell-It-Now" format, it is the buyer. Both formats are extensively used in online and … offline markets. Despite very different strategic implications for buyers and sellers, results from our experiment suggest no …

Persistent link: https://www.econbiz.de/10011407823

Advanced counter-biasing

Carpenter, Jeffrey P.; Benscheidt, Kevin - 2019

Viewed through the lens of the prominent two-system model of decision making, behavioral economics is seen as studying the tension between impulses (System 1) and rationality (System 2). In this context, two strategies, "de-biasing" informing agents of their biases and "counter-biasing" using...

Persistent link: https://www.econbiz.de/10011996314

How to help the poor to save a bit : evidence from a field experiment in Kenya

Akbas, Merve; Ariely, Dan; Robalino Aguirre, David A.; … - 2016

financial incentives can increase the saving rate of individuals with low and irregular income. Our experiment lasted for six …

Persistent link: https://www.econbiz.de/10011497226

Anchoring in financial decision-making : evidence from the field

Jetter, Michael; Walker, Jay K. - 2016

This paper analyzes 12,596 wagering decisions of 6,064 contestants in the US game show Jeopardy!, focusing on the anchoring phenomenon in financial decision-making. We find that contestants anchor heavily on the initial dollar value of a clue in their wagering decision, even though there exists...

Persistent link: https://www.econbiz.de/10011526727

Incorporating conditional morality into economic decisions

Masclet, David; Dickinson, David L. - 2019

We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea is that individuals face a preference trade-off between their material individual interest and their desire to follow moral norms. In our model, we assume that moral motivation...

Persistent link: https://www.econbiz.de/10012138532

Testing the advantages of conscious vs. unconscious thought for complex decisions in a distraction free paradigm

McElroy, Todd; Dickinson, David L. - 2016

In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we use a method of manipulating conscious and...

Persistent link: https://www.econbiz.de/10011580853

Deliberation enhances the confirmation bias : an examination of politics and religion

Dickinson, David L. - 2020

Existing research has documented the confirmation bias in the domain of politics, but relatively little research has examined the confirmation bias in religion. I developed a novel task in the religious domain and compare confirmation bias evidence to that observed in the political domain. Using...

Persistent link: https://www.econbiz.de/10012213878

Improving tax compliance without increasing revenue: evidence from population-wide randomized controlled trials in Papua New Guinea

Hoy, Christopher; McKenzie, Luke; Sinning, Mathias - 2020

This paper studies the impact of "nudges" on taxpayers with varying tax compliance histories in Papua New Guinea. We present the results from two population-wide randomized controlled trials in a setting that is characterized by low compliance rates and a lack of effective enforcement. We test...

Persistent link: https://www.econbiz.de/10012242367

Incentives and information as driving forces of default effects

Altmann, Steffen; Falk, Armin; Grunewald, Andreas - 2013

The behavioral relevance of non-binding default options is well established. While most research has focused on decision makers' responses to a given default, we argue that this individual decision making perspective is incomplete. Instead, a comprehensive understanding of the foundation of...

Persistent link: https://www.econbiz.de/10010128312

Playing "hard to get" : an economic rationale for crowding out of intrinsically motivated behavior

Schnedler, Wendelin; Vanberg, Christoph - 2014

Anecdotal, empirical, and experimental evidence suggests that offering extrinsic rewards for certain activities can reduce people's willingness to engage in those activities voluntarily. We propose a simple rationale for this "crowding out" phenomenon, using standard economic arguments. The...

Persistent link: https://www.econbiz.de/10010345273

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