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The market for retail financial products (e.g. investment funds or insurances) is marred by information asymmetries. Clients are not well informed about the quality of these products. They have to rely on the recommendations of advisors. Incentives of advisors and clients may not be aligned,...
Persistent link: https://www.econbiz.de/10010281621
The market for retail financial products (e.g. investment funds or insurances) is marred by information asymmetries. Clients are not well informed about the quality of these products. They have to rely on the recommendations of advisors. Incentives of advisors and clients may not be aligned,...
Persistent link: https://www.econbiz.de/10010539175
Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate experimentally which factors could improve advice quality. Besides advisor...
Persistent link: https://www.econbiz.de/10011985504
Actual behaviour is influenced in important ways by moral emotions, for instance guilt or shame (see among others Tangney et al., 2007). Belief-dependant models of social preferences using the framework of psychological games aim to consider such emotions to explain other-regarding behaviour....
Persistent link: https://www.econbiz.de/10010281628
Actual behaviour is influenced in important ways by moral emotions, for instance guilt or shame (see, among others, Tangney et al., 2007). Belief-dependant models of social preferences using the framework of psychological games aim to consider such emotions to explain other-regarding behaviour....
Persistent link: https://www.econbiz.de/10009144133
) is added in order to introduce reciprocity. We find significantly higher rates of selfish choices in our treatments that …
Persistent link: https://www.econbiz.de/10011580465
experiment, a trust game variant, we study whether moral wiggle room also prevails, when reciprocity is a potential motivation … reciprocity. Among our subjects, 40% of the reciprocators exploited moral wiggle room. …
Persistent link: https://www.econbiz.de/10011522057
We analyse two types of belief-dependant models of social preferences: guilt aversion and reciprocity. In particular …, we test the relevance of their input variables (second-order beliefs and general dispositions for guilt/reciprocity). The … data confirm the predictions of belief-dependant models. Both second-order beliefs and a participant's sensitivity to guilt/reciprocity …
Persistent link: https://www.econbiz.de/10008671387
We report three repetitions of Falk and Kosfeld's (2006) low and medium control treatmentswith 364 subjects. Each repetition employs a sample drawn from a standard subject pool ofstudents and demographics vary across samples. Our results largely conict with those of theoriginal study. We mainly...
Persistent link: https://www.econbiz.de/10005870900
We conduct a real-effort task experiment where subjects' performance translates into a donation to a charity. In a within-subjects design we vary the visibility of the donation (no/private/public feedback). Confirming previous studies, we find that subjects' performance increases, that is, they...
Persistent link: https://www.econbiz.de/10010291810