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lifting) matter less when individuals are more patient and altruistic, or exhibit less negative reciprocity. To account for …
Persistent link: https://www.econbiz.de/10012834459
We study how reelection concerns affect reciprocity by elected leaders to the voters who elected them. If showing … reciprocity? We present a signalling model of candidate behavior, where we show that candidates may limit intrinsic reciprocity to … for instrumental purposes. We then present an experiment that tests these ideas in the laboratory and finds support for …
Persistent link: https://www.econbiz.de/10013306903
Psychologists study regret primarily by measuring subjects' attitudes in laboratory experiments. This does not shed light on how expected regret affects economic actions in market settings. To address this, we use proprietary data from a blackjack table in Las Vegas to analyze how expected...
Persistent link: https://www.econbiz.de/10013152738
costly contracts or expensive reputations. Concurrently, experiments suggest that reciprocity is a potent substitute for law …
Persistent link: https://www.econbiz.de/10012957379
Saving when faced with the immediate option to spend is an unpleasant but not conceptually difficult task. One popular approach contradicts traditional economic theory by suggesting that people in debt should pay off their debts from smallest size to largest regardless of interest rate, to...
Persistent link: https://www.econbiz.de/10013053849
. This study also presents empirical evidence from a laboratory experiment in which students at a selective college were …
Persistent link: https://www.econbiz.de/10013213459
Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...
Persistent link: https://www.econbiz.de/10012760581
, laboratory work and, indeed, psychology more generally, gives us little guidance as to market outcomes. Economics provides a …
Persistent link: https://www.econbiz.de/10012752691
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
Research on behavioral economics has established the importance of factors such as reference dependent preferences, hyperbolic discounting, and the value placed on non-financial rewards. To date, these insights have had little impact on the way the educational system operates. Through a series...
Persistent link: https://www.econbiz.de/10013104979