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Human Frictions in the Transmission of Economic Policies

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - National Bureau of Economic Research - 2021

Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in...

Persistent link: https://www.econbiz.de/10012629499

Measuring Self-Control

Ameriks, John - 2004

How significant are individual differences in self-control? Do these differences impact wealth accumulation? From where do they derive? Our survey-based measure of self-control provides insights into all three questions: 1.There are individual differences in self-control not only of a...

Persistent link: https://www.econbiz.de/10012468179

Biased Memory and Perceptions of Self-Control

Sial, Afras Y.; Sydnor, Justin R.; Taubinsky, Dmitry - National Bureau of Economic Research - 2023

Using data from a field experiment on exercise, we analyze the relationship between imperfect memory and people's awareness of their limited self-control. We find that people overestimate past gym attendance, and that larger overestimation of past attendance is associated with (i) more...

Persistent link: https://www.econbiz.de/10013537719

Generalized Agency Problems

Morck, Randall - 2009

Agency problems in economics virtually always entail self-interested agency exhibiting "insufficient" loyalty to principal. Social psychology also has a literature, mainly derived from work by Stanley Milgram, on issues of agency, but this emphasizes excessive loyalty -- people undergoing a...

Persistent link: https://www.econbiz.de/10012463599

Can Financial Incentives Help People Trying to Establish New Habits? Experimental Evidence with New Gym Members

Carrera, Mariana - 2017

We conducted a randomized controlled trial testing the effect of modest incentives to attend the gym among new members of a fitness facility, a population that is already engaged in trying to change a health behavior. Our experiment randomized 836 new members of a private gym into a control...

Persistent link: https://www.econbiz.de/10012455115

Trust and Health Care-Seeking Behavior

Darden, Michael; Macis, Mario - National Bureau of Economic Research - 2024

We present results from a nationally representative survey of American adults, guided by a simple theoretical model expressing health care-seeking behavior as a function of economic and behavioral fundamentals and highlighting the role of trust. We report several findings. First, we document a...

Persistent link: https://www.econbiz.de/10014468228

Managerial Value Diversion and Shareholder Wealth

Bebchuk, Lucian Arye - 2000

managers. We question this view within its own analytical framework by studying, in a principal-agent model, the effects of … diversion overlooks a significant cost of such behavior. Many common modes of compensation can provide managers with incentives …

Persistent link: https://www.econbiz.de/10012471137

Do CEOs Set Their Own Pay? The Ones Without Principals Do

Bertrand, Marianne - 2000

We empirically examine two competing views of CEO pay. In the contracting view, pay is used to solve an agency problem: the compensation committee optimally chooses pay contracts which give the CEO incentives to maximize shareholder wealth. In the skimming view, pay is the result of an agency...

Persistent link: https://www.econbiz.de/10012471166

Does Product Market Competition Reduce Agency Costs?

Jagannathan, Ravi - 2000

The folk wisdom is that competition reduces agency costs. We provide indirect empirical support for this view. We argue that the temptation to retain cash and engage in less productive activities is more severe for firms in less competitive industries. Hence an unanticipated increase in...

Persistent link: https://www.econbiz.de/10012471296

Empire-Builders and Shirkers : Investment, Firm Performance, and Managerial Incentives

Aggarwal, Rajesh K. - 1999

shareholders and managers in which managers have private benefits or private costs of investment. Managers overinvest when they …, in isolation, is insufficient to identify whether managers have private benefits or private costs of investment. In order … to identify whether managers have private benefits or costs, we estimate the joint relationships between incentives and …

Persistent link: https://www.econbiz.de/10012471449