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Crowdsourcing financial information to change spending behavior
D'Acunto, Francesco; Rossi, Alberto G.; Weber, Michael - 2019
We document five effects of providing individuals with crowdsourced spending information about their peers (individuals with similar characteristics) through a FinTech app. First, users who spend more than their peers reduce their spending significantly, whereas users who spend less keep...
Persistent link: https://www.econbiz.de/10012018224
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2023
unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014340155
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Households' Response to the Wealth Effects of Inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas; … - 2023
unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014469510
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Crowdsourcing financial information to change spending behavior
D'Acunto, Francesco; Rossi, Alberto; Weber, Michael - 2019
We document five effects of providing individuals with crowdsourced spending information about their peers (individuals with similar characteristics) through a FinTech app. First, users who spend more than their peers reduce their spending significantly, whereas users who spend less keep...
Persistent link: https://www.econbiz.de/10011982228
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Households' Response to the Wealth Effects of Inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023
unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014372429
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Crowdsourcing Financial Information to Change Spending Behavior
D'Acunto, Francesco - 2019
We document five effects of providing individuals with crowdsourced spending information about their peers (individuals with similar characteristics) through a FinTech app. First, users who spend more than their peers reduce their spending significantly, whereas users who spend less keep...
Persistent link: https://www.econbiz.de/10012891053
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Crowdsourcing Peer Information to Change Spending Behavior
D'Acunto, Francesco - 2020
Consumers might overestimate optimal spending if forming beliefs based on others' spending, because others' conspicuous consumption is more visible than the rest of their consumption. If true, information about others' overall spending should change beliefs and choice. For a test, we provide...
Persistent link: https://www.econbiz.de/10012850061
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2023
unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014364676
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2023
unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …
Persistent link: https://www.econbiz.de/10014339966
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Inflation, Net Nominal Positions, and Consumption
Hackethal, Andreas; Schnorpfeil, Philip; Weber, Michael - 2022
and debt positions. Once they receive information on this erosion channel, they update perceptions and expectations about …
Persistent link: https://www.econbiz.de/10014236128