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Rational Choice and Voter Turnout : Evidence from Union Representation Elections
Farber, Henry S. - 2010
In order to address this issue, I study turnout in union representation elections in the U.S. (government supervised secret ballot elections, generally held at the workplace, on the question of whether the workers would like to be represented by a union). These elections provide a particularly...
Persistent link: https://www.econbiz.de/10012462498
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Learning Through Imitation : an Experiment
Agranov, Marina; Lopez-Moctezuma, Gabriel; Strack, Philipp - National Bureau of Economic Research - 2022
We compare how well agents aggregate information in two repeated social learning environments. In the first setting agents have access to a public data set. In the second they have access to the same data, and also to the past actions of others. Despite the fact that actions contain no...
Persistent link: https://www.econbiz.de/10013191057
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Coordination with Differential Time Preferences : Experimental Evidence
Agranov, Marina; Kim, Jeongbin; Yariv, Leeat - National Bureau of Economic Research - 2023
The experimental literature on repeated games has largely focused on settings where players discount the future identically. In applications, however, interactions often occur between players whose time preferences differ. We study experimentally the effects of discounting differentials in...
Persistent link: https://www.econbiz.de/10014287389
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Neighborhood-Based Information Costs
Hébert, Benjamin M. - 2020
We propose a new measure of the cost of information structures in rational inattention problems, the "neighborhood-based" cost functions, given that many applications involve states with a topological structure. These cost functions summarize the results of a sequential information sampling...
Persistent link: https://www.econbiz.de/10012479267
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Learning and Disagreement in an Uncertain World
Acemoglu, Daron - 2006
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/10012466013
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Moral Costs and Rational Choice : Theory and Experimental Evidence
Cox, James C. - 2016
The literature exploring other regarding behavior sheds important light on interesting social phenomena, yet less attention has been given to how the received results speak to foundational assumptions within economics. Our study synthesizes the empirical evidence, showing that recent work...
Persistent link: https://www.econbiz.de/10012456441
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Inflation Illusion, Credit, and Asset Pricing
Piazzesi, Monika - 2007
inflation illusion. Illusionary investors mistake changes in nominal interest rates for changes in real rates, while smart … moves with expected inflation. The model also predicts a nonmonotonic relationship between the price-to-rent ratio on … developed. We document that many countries experienced a housing boom in the high-inflation 1970s and a second, stronger, boom …
Persistent link: https://www.econbiz.de/10012465699
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Money Illusion and Housing Frenzies
Brunnermeier, Markus K. - 2006
A reduction in inflation can fuel run-ups in housing prices if people suffer from money illusion. For example … account that inflation lowers future real mortgage costs. We decompose the price-rent ratio in a rational component -- meant … to capture the proxy effect and risk premia -- and an implied mispricing. We find that inflation and nominal interest …
Persistent link: https://www.econbiz.de/10012465849
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Retrospective Search : Exploration and Ambition on Uncharted Terrain
Urgun, Can; Yariv, Leeat - National Bureau of Economic Research - 2021
We study a model of retrospective search in which an agent--a researcher, an online shopper, or a politician--tracks the value of a product. Discoveries beget discoveries and their observations are correlated over time, which we model using a Brownian motion. The agent, a standard exponential...
Persistent link: https://www.econbiz.de/10012616575
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Do Trust and Trustworthiness Pay Off?
Slemrod, Joel - 2002
Are individuals who trust others better off than those who do not? Do trustworthy people prosper more than untrustworthy ones? We first pose these questions in a search model where individuals face repeated choices between trusting (initiating an investment transaction) and not trusting, and...
Persistent link: https://www.econbiz.de/10012469510