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Guilt from Promise-Breaking and Trust in Markets for Expert Services : Theory and Experiment
Beck, Adrian - 2010
We examine the influence of guilt and trust on the performance of credence goods markets. An expert can make a promise to a consumer first, whereupon the consumer can express her trust by paying an interaction price before the expert's provision and charging decisions. We argue that the expert's...
Persistent link: https://www.econbiz.de/10013146471
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Reveal it or Conceal it : On the Value of Second Opinions in a Low-Entry-Barriers Credence Goods Market
Bindra, Parampreet - 2020
. In theory, poorly informed consumers can protect themselves from maltreatment through sellers by asking for second …
Persistent link: https://www.econbiz.de/10012831233
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Conformism, Social Norms and the Dynamics of Assimilation
Olcina, Gonzalo - 2018
We consider a model where each individual (or ethnic minority) is embedded in a network of relation-ships and decides whether or not she wants to be assimilated to the majority norm. Each individual wants her behavior to agree with her personal ideal action or norm but also wants her behavior to...
Persistent link: https://www.econbiz.de/10012922451
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In Search of Stars : Network Formation among Heterogeneous Agents
Goeree, Jacob K.; Riedl, Arno; Ule, Aljaz - 2021
This paper reports results from a laboratory experiment on network formation among heterogeneous agents. The experimental design extends the Bala-Goyal (2000) model of network formation with decay and two-way flow of benefits by allowing for agents with lower linking costs or higher benefits to...
Persistent link: https://www.econbiz.de/10013318256
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Narratives, Imperatives, and Moral Reasoning
Bénabou, Roland - 2018
By downplaying externalities, magnifying the cost of moral behavior, or suggesting not being pivotal, exculpatory narratives can allow individuals to maintain a positive image when in fact acting in a morally questionable way. Conversely, responsibilizing narratives can help sustain better...
Persistent link: https://www.econbiz.de/10012914337
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Aligning Ambition and Incentives
Koch, Alexander K.; Peyrache, Eloic - 2021
Labor turnover creates longer term career concerns incentives that motivate employees in addition to the short term monetary incentives provided by the current employer. We analyze how these incentives interact and derive implications for the design of incentive contracts and organizational...
Persistent link: https://www.econbiz.de/10013318646
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Free-Riding and Knowledge Spillovers in Teams : The Role of Social Ties
De Paola, Maria - 2016
We investigate whether and how social ties affect performance in teams by implementing a field experiment in which a sample of undergraduate students are randomly assigned to either teams composed by friends or teams composed by individuals not linked by friendship relationships. Students...
Persistent link: https://www.econbiz.de/10012981511
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Competition and the Ratchet Effect
Charness, Gary; Kuhn, Peter; Villeval, Marie Claire - 2021
The 'ratchet effect' refers to a situation where a principal uses private information that is revealed by an agent's early actions to the agent's later disadvantage, in a context where binding multi-period contracts are not enforceable. In a simple, context-rich environment, we experimentally...
Persistent link: https://www.econbiz.de/10013324885
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Signaling and Employer Learning with Instruments
Aryal, Gaurab - 2020
The social and the private returns to education differ when education can increase productivity, and also be used to signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and private returns to education within the employer learning...
Persistent link: https://www.econbiz.de/10012842034
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Overconfidence is a Social Signaling Bias
Burks, Stephen V. - 2010
relatively. We test three different theories about observed relative overconfidence. The first theory notes that simple … on 1,016 individuals' relative ability judgments about two cognitive tests rejects the Bayesian model. The second theory … might make this belief worse. Our data also reject this prediction. The third theory is that overconfidence is induced by …
Persistent link: https://www.econbiz.de/10013146457