Showing 1 - 10 of 34
In this paper we propose a theory of cognitive dissonance through imperfect memory. Cognitive dissonance is the tendency of a person to engage in self justification after a decision. We offer an interpretation of the single decision cognitive dissonance experiments: an agent has an unknown cost...
Persistent link: https://www.econbiz.de/10010266334
Economics rests upon a set of presumptions about how human beings are affected by income. Yet causal evidence is scant. This paper reports a longitudinal study of randomly selected lottery winners. Remarkably, we show that it takes almost three years before they enjoy their money. We develop a...
Persistent link: https://www.econbiz.de/10010315565
This paper offers an explanation to why the general observation that elderly hold stronger moral attitudes than young ones may be an age rather than a cohort effect. We apply mechanisms from social psychology to explain how personal norms may evolve over the life cycle. We assume that people...
Persistent link: https://www.econbiz.de/10010321373
Cognitive dissonance theory predicts that the act of voting makes people more positive toward the party or candidate they have voted for. Following Mullainathan and Washington (2009), I test this prediction by using exogenous variation in turnout provided by the voting age restriction. I improve...
Persistent link: https://www.econbiz.de/10010321449
This paper presents a 3x3 general equilibrium model of an OLGeconomy with technological uncertainty, heterogeneous agents and quasi-homothetic preferences to analyze structural change between the real and the financial sector as well as within the financial sector. Besides the consumption and...
Persistent link: https://www.econbiz.de/10011420552
This article examines the spread of financialization in Germany before the financial crisis. It provides an up-to date … overview on the literature on financialization and reviews which of the phenomena typically associated with financialization … changes had contributed to or had countervailed the spread of financialization and how it had shaped the specific German …
Persistent link: https://www.econbiz.de/10012061719
Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater … influence over economic policy and economic outcomes. Financialization transforms the functioning of economic systems at both … contribute to wage stagnation. Additionally, there are reasons to believe that financialization may put the economy at risk of …
Persistent link: https://www.econbiz.de/10010266625
Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models as an analytical tool. This text suggests that: (1) this strategy is potentially misleading; (2) that the stock-flow...
Persistent link: https://www.econbiz.de/10010276453
as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of … term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly … Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the …
Persistent link: https://www.econbiz.de/10011461711
This paper contributes to the financialization literature exploring the dynamics of financialization in eight emerging … accumulation of foreign liabilities. Foreign financial flows in Russia were not as significant for the process of financialization …, but rather the state itself. In this paper we identify two types of financialization: 'foreign-finance-led' and 'state …
Persistent link: https://www.econbiz.de/10013261389