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Are optimistic expectations keeping the Chinese happy?

Frijters, Paul; Liu, Amy Y.C.; Meng, Xin - In: Journal of Economic Behavior & Organization 81 (2012) 1, pp. 159-171

In this paper we study the effect of optimistic income expectations on life satisfaction amongst the Chinese population … strong in the countryside and amongst rural-to-urban migrants. The importance of these expectations for life satisfaction is … particularly pronounced in the urban areas, though also highly significant for the rural area. If expectations were to reverse from …

Persistent link: https://www.econbiz.de/10010597452

Sometimes less is more – The influence of information aggregation on investment decisions

Kaufmann, Christine; Weber, Martin - In: Journal of Economic Behavior & Organization 95 (2013) C, pp. 20-33

We study the effect of information aggregation on individual investors’ risk-taking behavior in two experiments, each having three different treatments. Subjects in the control group were given hypothetical returns for both the risk-free and the risky asset. Subjects in the account group were...

Persistent link: https://www.econbiz.de/10010719273

Information aggregation and belief elicitation in experimental parimutuel betting markets

Koessler, Frédéric; Noussair, Charles; Ziegelmeyer, … - In: Journal of Economic Behavior & Organization 83 (2012) 2, pp. 195-208

This paper studies the impact of belief elicitation on informational efficiency and individual behavior in experimental parimutuel betting markets. In one treatment, groups of eight participants, who possess a private signal about the eventual outcome, play a sequential betting game. The second...

Persistent link: https://www.econbiz.de/10010576944

Affecting policy by manipulating prediction markets: Experimental evidence

Deck, Cary; Lin, Shengle; Porter, David - In: Journal of Economic Behavior & Organization 85 (2013) C, pp. 48-62

Documented results indicate prediction markets effectively aggregate information and form accurate predictions. This has led to a proliferation of markets predicting everything from the results of elections to a company's sales to movie box office receipts. Recent research suggests prediction...

Persistent link: https://www.econbiz.de/10010608203

A simple model of project selection with strategic communication and uncertain motives

Rantakari, Heikki - In: Journal of Economic Behavior & Organization 102 (2014) C, pp. 14-42

I analyze a problem of project selection where two agents, privately informed of both the true value and their bias in favor of their alternatives, make non-verifiable proposals to an uninformed decision-maker. The analysis makes two contributions. First, I examine the consequences of preference...

Persistent link: https://www.econbiz.de/10010776750

Simple decision rules in small groups: Collegial rule vs. rotational rule

Shadmehr, Mehdi - In: Journal of Economic Behavior & Organization 113 (2015) C, pp. 51-63

I analyze the decision by ex ante identical group members with private preferences who must choose between two simple power-sharing schemes: collegial rule and rotational rule. Under collegial rule, members simultaneously express their preferred decisions, and the final decision takes the form...

Persistent link: https://www.econbiz.de/10011263908

Survey response in probabilistic questions and its impact on inference

de Bresser, Jochem; van Soest, Arthur - In: Journal of Economic Behavior & Organization 96 (2013) C, pp. 65-84

We develop a panel data model of expectations of a continuous outcome variable elicited on a percentage-chance scale …

Persistent link: https://www.econbiz.de/10010719275

Beliefs and ingroup favoritism

Ockenfels, Axel; Werner, Peter - In: Journal of Economic Behavior & Organization 108 (2014) C, pp. 453-462

We report on two experiments designed to investigate the role of beliefs for ingroup favoritism. On average, dictators transfer substantially more to recipients who are publicly known to share the same group identity, compared to transfers given to recipients who are publicly known to be...

Persistent link: https://www.econbiz.de/10011116869

Adaptive learning and survey data

Markiewicz, Agnieszka; Pick, Andreas - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 685-707

This paper investigates the ability of the adaptive learning approach to replicate the expectations of professional … simple, yet powerful benchmark models. We find that constant gain models provide a better fit for the expectations of …

Persistent link: https://www.econbiz.de/10011116871

Second-order beliefs and the individual investor

Egan, Daniel; Merkle, Christoph; Weber, Martin - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 652-666

expectations of other investors—influence investment decisions. Investors who believe others hold more optimistic stock market … expectations allocate more of their own portfolio to stocks even after controlling for their own risk and return expectations …

Persistent link: https://www.econbiz.de/10011116897