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argue that guessing draws attention to the norm and therefore increases its effectiveness. Our results suggest that the … effectiveness of nudges that use descriptive norms depends on how the a priori beliefs about the descriptive norm are updated. …
Persistent link: https://www.econbiz.de/10011559978
kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events …
Persistent link: https://www.econbiz.de/10011413959
statistically insignificantly. Workers’ beliefs over the third party’s redistribution rate do not mediate such results and are …
Persistent link: https://www.econbiz.de/10013279997
forecast laboratory experiments with human subjects (Hommes et al. 2007), simultaneously and across different treatments …
Persistent link: https://www.econbiz.de/10003777257
We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...
Persistent link: https://www.econbiz.de/10009425488
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010341721
. Subjects' preferences, beliefs, and perceptions under each motive are compared with those of subjects experiencing a neutral … treatments, though higher beliefs explain part of the effect that Care has on giving. These results are robust to checking for … comprehension of the game's incentives. We also observe concomitant differences in attention to own and other's payoffs (using mouse …
Persistent link: https://www.econbiz.de/10011549564
We develop a theoretical model of human skill formation and emigration. Additionally to existing brain drain models, we partly endogenize the heterogeneity of the individuals, by introducing aspirations. Emigration of an individual will result in a migration experience, which increases the...
Persistent link: https://www.econbiz.de/10010402250
This paper proposes a simple framework to model social preferences in a game theoretic framework which explicitly separates economic incentives from social (context) effects. It is argued that such a perspective makes it easier to analyse contextual effects. Moreover, the framework is used to...
Persistent link: https://www.econbiz.de/10010429811
In this paper we incorporate the two most prominent approaches of inequality aversion, i.e. Fehr and Schmidt (1999) and Bolton and Ockenfels (2000) into an otherwise standard New Keynesian macro model and compare them with respect to their influence on the long-run effectiveness of monetary...
Persistent link: https://www.econbiz.de/10009671657