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Satisfaction Guaranteed : When Moral Hazard Meets Moral Preferences

Andreoni, James - 2017

Theorists and policy analysts have convincingly argued that greater trust makes a more efficient society by eliminating … trust-building contract device: satisfaction guaranteed. We find that satisfaction guaranteed indeed builds trust and … it is fully voluntary, but the guarantee only elicits the trust of buyers when it has legal backing …

Persistent link: https://www.econbiz.de/10012957379

Global Evidence on Economic Preferences

Falk, Armin - 2017

reciprocity, altruism, and trust from 80,000 individuals in 76 countries. The data reveal substantial heterogeneity in preferences …

Persistent link: https://www.econbiz.de/10012945159

Reconciling Asymmetric Information and Divergent Expectations Theories of Litigation

Waldfogel, Joel - 2021

Both asymmetric information (AI) and divergent expectations (DE) theories offer possible explanations of the litigation puzzle. Under DE, cases proceed to trial when, by chance, the plaintiff is more optimistic than the defendant. As the fraction of cases tried (T) declines, this leads to a...

Persistent link: https://www.econbiz.de/10013220528

Stock Option Exercise and Gift Exchange Relationships : Evidence for a Large Us Company

Cappelli, Peter - 2011

We investigate gift exchange relationships in real jobs, making use of a field quasi-experiment associated with the exercise of stock options for roughly 4500 managers in a large public company. In this company, option grants are set equally for all employees within occupational categories, and...

Persistent link: https://www.econbiz.de/10013129185

You Owe Me

Malmendier, Ulrike - 2012

In many cultures and industries gifts are given in order to influence the recipient, often at the expense of a third party. Examples include business gifts of firms and lobbyists. In a series of experiments, we show that, even without incentive or informational effects, small gifts strongly...

Persistent link: https://www.econbiz.de/10013097778

Revenue or Reciprocity? Founding Feuds Over Early U.S. Trade Policy

Irwin, Douglas A. - 2009

The Constitution of 1787 was designed to give Congress powers over trade policy that it lacked under the Articles of Confederation. The Washington administration was split over whether to use these powers to raise revenue or to retaliate against Britain's discriminatory trade policies. Obsessed...

Persistent link: https://www.econbiz.de/10013158026

Social Interactions in Pandemics : Fear, Altruism, and Reciprocity

Alfaro, Laura - 2020

In SIR models, infection rates are typically exogenous, whereas individuals adjust their behavior in reality. City-level data across the globe suggest that mobility falls in response to fear, proxied by Google searches. Incorporating experimentally validated measures of social preferences at the...

Persistent link: https://www.econbiz.de/10012834459

The Design of Trade Agreements

Bagwell, Kyle - 2016

What does economics have to say about the design of international trade agreements? We review a literature on this question, providing detailed coverage on three key design features of the GATT/WTO: reciprocity, nondiscrimination as embodied in the MFN principle, and tariff bindings and binding...

Persistent link: https://www.econbiz.de/10012996393

Estimating Social Preferences and Gift Exchange at Work

DellaVigna, Stefano - 2016

We design a model-based field experiment to estimate the nature and magnitude of workers' social preferences towards their employers. We hire 446 workers for a one-time task. Within worker, we vary (i) piece rates; (ii) whether the work has payoffs only for the worker, or also for the employer;...

Persistent link: https://www.econbiz.de/10012997885

Reciprocity Versus Reelection

Dalmia, Prateik; Drazen, Allan; Ozbay, Erkut - 2022

We study how reelection concerns affect reciprocity by elected leaders to the voters who elected them. If showing kindness to past voters reduces the chances of reelection, will an elected leader reduce or eliminate such intrinsic reciprocity? We present a signalling model of candidate behavior,...

Persistent link: https://www.econbiz.de/10013306903

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