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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

Advanced counter-biasing

Carpenter, Jeffrey P.; Benscheidt, Kevin - 2019

improved the welfare of behavioral agents. We advance the notion of counter-biasing by demonstrating that one bias (present … bias) can be pit against another (choking at high stakes) to counteract the ill effects of the second. Our results …

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

Hidden skewness

Ensthaler, Ludwig; Nottmeyer, Olga; Weizsäcker, Georg - 2010

Persistent link: https://www.econbiz.de/10008780291

Persistent overconfidence and biased memory : evidence from managers

Huffman, David; Raymond, Collin; Shvets, Julia - 2023

A long-standing puzzle is how overconfidence can persist in settings characterized by repeated feedback. This paper studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each time. Using reduced form and structural methods we...

Persistent link: https://www.econbiz.de/10014311540

The effect of communication channels on promise-making and promise-keeping

Conrads, Julian; Reggiani, Tommaso - 2014

This paper investigates the effect of different communication channels on promise-making and promise-keeping in a helping situation. Four treatments differ with respect to the communication channel employed to solicit unincentivized cooperation, i.e., face-to-face, phone call and two different...

Persistent link: https://www.econbiz.de/10010414338

Limited self-knowledge and survey response behavior

Falk, Armin; Neuber, Thomas; Strack, Philipp - 2021

We study response behavior in surveys and show how the explanatory power of self-reports can be improved. First, we develop a choice model of survey response behavior under the assumption that the respondent has imperfect self-knowledge about her individual characteristics. In panel data, the...

Persistent link: https://www.econbiz.de/10012588630

Economic polarization and antisocial behavior : an experiment

Bigoni, Maria; Bortolotti, Stefania; Nas Özen, Efşan - 2019

Economic inequality may fuel frustration, possibly leading to anger and antisocial behavior. We experimentally study a situation where only the rich can reduce inequality while the poor can express their discontent by destroying the wealth of a rich counterpart with whom they had no previous...

Persistent link: https://www.econbiz.de/10012064378

Motivated belief updating and rationalization of information

Drobner, Christoph; Goerg, Sebastian J. - 2022

We study belief updating about relative performance in an ego-relevant task. Manipulating the perceived ego-relevance of the task, we show that subjects update their beliefs optimistically because they derive direct utility flows from holding positive beliefs. This finding provides a behavioral...

Persistent link: https://www.econbiz.de/10013433247

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 … "gun control" and the "existence of God". Results documented a confirmation bias in both information exposure and perceived …

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

Sophistication about self-control

Cobb-Clark, Deborah A.; Dahmann, Sarah Christina; … - 2021

We propose a broadly applicable empirical approach to classify individuals as time-consistent versus naïve or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that...

Persistent link: https://www.econbiz.de/10012600894

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