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“At least I didn’t lose money” - Nominal Loss Aversion Shapes Evaluations of Housing Transactions
Stephens, Thomas A.; Tyran, Jean-Robert - Økonomisk Institut, Københavns Universitet - 2012
Loss aversion is one of the most robust findings to have emerged from behavioral economics. Surprisingly little attention, however, has been devoted to nominal loss aversion, the interaction of loss aversion and money illusion. People tend to think of transactions in terms of their nominal...
Persistent link: https://www.econbiz.de/10010592980
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Public goods and voting on formal sanction schemes
Putterman, Louis; Tyran, Jean-Robert; Kamei, Kenju - In: Journal of Public Economics 95 (2011) 9, pp. 1213-1222
The burgeoning literature on the use of sanctions to support the provision of public goods has largely neglected the use of formal or centralized sanctions. We let subjects playing a linear public goods game vote on the parameters of a formal sanction scheme capable of either resolving or...
Persistent link: https://www.econbiz.de/10010574271
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Microfoundations of social capital
Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik - In: Journal of Public Economics 96 (2012) 7-8, pp. 635-643
Research on social capital routinely relies on survey measures of trust which can be collected in large and heterogeneous samples at low cost. We validate such survey measures in an incentivized public good experiment and show that they are importantly related to cooperation behavior in a large...
Persistent link: https://www.econbiz.de/10011056169
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Give and take in dictator games
Cappelen, Alexander W.; Nielsen, Ulrik H.; Sørensen, … - In: Economics Letters 118 (2013) 2, pp. 280-283
It has been shown that participants in the dictator game are less willing to give money to the other participant when their choice set also includes the option to take money. We examine whether this effect is due to the choice set providing a signal about entitlements in a setting where...
Persistent link: https://www.econbiz.de/10011041625
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“At least I didn’t lose money” Nominal Loss Aversion Shapes Evaluations of Housing Transactions
Stephens, Thomas A; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2012
Loss aversion is one of the most robust findings to have emerged from behavioral economics. Surprisingly little attention, however, has been devoted to nominal loss aversion, the interaction of loss aversion and money illusion. People tend to think of transactions in terms of their nominal...
Persistent link: https://www.econbiz.de/10011083826
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Medical insurance and free choice of physician shape patient overtreatment: A laboratory experiment
Huck, Steffen; Lünser, Gabriele; Spitzer, Florian; … - Abteilung "Ökonomik des Wandels", Wissenschaftszentrum … - 2014
In a laboratory experiment designed to capture key aspects of the interaction be-tween physicians and patients in a stylized way, we study the effects of medical insurance and competition in the guise of free choice of physician. Medical treat-ment is an example of a credence good: only the...
Persistent link: https://www.econbiz.de/10010983250
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Give and Take in Dictator Games.
Cappelen, Alexander W.; Nielsen, Ulrik H.; Sørensen, … - Institutt for samfunnsøkonomi, Norges Handelshøyskole … - 2012
It has been shown that participants in the dictator game are less willing to give money to the other participant when their choice set also includes the option to take money. We examine whether this effect is due to the choice set providing a signal about entitlements in a setting where...
Persistent link: https://www.econbiz.de/10010567131
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Microfoundations of Social Capital
Thöni, Christian; Tyran, Jean-Robert; Wengström, Erik - Økonomisk Institut, Københavns Universitet - 2009
We show that the standard trust question routinely used in social capital research is importantly related to cooperation behavior and we provide a microfoundation for this relation. We run a large-scale public goods experiment over the internet in Denmark and find that the trust question is a...
Persistent link: https://www.econbiz.de/10008559153
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Limited Rationality and Strategic Interaction : The Impact of the Strategic Environment on Nominal Inertia
Fehr, Ernst; Tyran, Jean-Robert - Institut für Schweizerisches Bankwesen <Zürich>; … - 2002
important economic problem the adjustment of nominal prices after an anticipated money shock. Our experiments show that when … agents actions are strategic substitutes adjustment to the new equilibrium is extremely quick whereas under strategic … complementarity adjustment lasts very long and is associated with relatively large real effects. This adjustment difference occurs …
Persistent link: https://www.econbiz.de/10005859327
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Does Money Illusion Matter? Reply
Fehr, Ernst; Tyran, Jean-Robert - In: American Economic Review 104 (2014) 3, pp. 1063-71
important role in nominal price adjustment after a fully anticipated negative monetary shock. Money Illusion affects subjects …
Persistent link: https://www.econbiz.de/10010815742