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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/10011559579
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Famous after Death: The Effect of a Writer's Death on Book Sales
Ponzo, Michela; Scoppa, Vincenzo - 2022
In the standard neoclassical model consumers use all the available information and the demand for goods depends exclusively on preferences and prices whereas other spurious information do not play any role. In the market for books, we investigate if – in contrast to the standard model – the...
Persistent link: https://www.econbiz.de/10013426350
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Randomizing Endowments: An Experimental Study of Rational Expectations and Reference-Dependent Preferences
Götte, Lorenz; Harms, Annette; Sprenger, Charles - 2014
An important advance in the study of reference-dependent preferences is the discipline provided by coherent accounts of reference point formation. Kőszegi and Rabin (2006) provide such discipline by positing a reference point grounded in rational expectations. We examine the predictions of...
Persistent link: https://www.econbiz.de/10010468159
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Randomizing Endowments: An Experimental Study of Rational Expectations and Reference-Dependent Preferences
Götte, Lorenz; Harms, Annette; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2014
An important advance in the study of reference-dependent preferences is the discipline provided by coherent accounts of reference point formation. Kőszegi and Rabin (2006) provide such discipline by positing a reference point grounded in rational expectations. We examine the predictions of...
Persistent link: https://www.econbiz.de/10011078395
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Does the Dream of Home Ownership Rest upon Biased Beliefs? A Test Based on Predicted and Realized Life Satisfaction
Odermatt, Reto; Stutzer, Alois - 2020
The belief that home ownership makes people happy is probably one of the most widespread intuitive theories of happiness. However, whether it is accurate is an open question. Based on individual panel data, we explore whether home buyers systematically overestimate the life satisfaction...
Persistent link: https://www.econbiz.de/10012270188
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Complex Tax Incentives: An Experimental Investigation
Abeler, Johannes; Jäger, Simon - 2013
How does the tax system's complexity affect people's reaction to tax changes? To answer this question, we conduct a real-effort experiment in which subjects receive a piece rate and face a set of taxes. In one treatment the tax system is simple; in the other treatment it is highly complex. The...
Persistent link: https://www.econbiz.de/10010319504
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The role of salience in performance schemes: Evidence from a field experiment
Englmaier, Florian; Roider, Andreas; Sunde, Uwe - 2012
tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …
Persistent link: https://www.econbiz.de/10010282221
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Complex Tax Incentives: An Experimental Investigation
Abeler, Johannes; Jäger, Simon - Institute for the Study of Labor (IZA) - 2013
How does the tax system's complexity affect people's reaction to tax changes? To answer this question, we conduct a real-effort experiment in which subjects receive a piece rate and face a set of taxes. In one treatment the tax system is simple; in the other treatment it is highly complex. The...
Persistent link: https://www.econbiz.de/10010884214
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The Role of Salience in Performance Schemes: Evidence from a Field Experiment
Englmaier, Florian; Roider, Andreas; Sunde, Uwe - Institute for the Study of Labor (IZA) - 2012
tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …
Persistent link: https://www.econbiz.de/10011279295
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To Buy or Not to Buy? Price Salience in an Online Shopping Field Experiment
Dertwinkel-Kalt, Markus; Köster, Mats; Sutter, Matthias - 2020
We examine whether shrouding or partitioning of a surcharge raises demand in online shopping. In a field experiment with more than 34,000 consumers, we find that consumers in the online shop of a cinema are more likely to select tickets for a 3D movie when the 3D surcharge is shrouded, but they...
Persistent link: https://www.econbiz.de/10012322597