Five experiments were conducted to investigate whether perceived inflation and expected future prices are influenced by the nominal representation of increases in product prices in different currencies. In contrast to previous research demonstrating overestimates of the perceived inflation of...

The efficiency of deregulated markets is jeopardized by consumers failing to switch supplier to the extent that would be beneficial to them. In order to disentangle the determinants of failures to switch, the present study investigates consumers' motives for negative attitudes towards switching...

The recent financial crisis has affected most countries. With cutbacks in business, trade and government spending, millions world-wide have lost their jobs, with young people disproportionately affected. This paper synthesizes the thoughts expressed during an interdisciplinary discussion held in...

A series of four experiments were performed to examine the accuracy of estimations of economic growth by both experts and lay people, the factors that influence the accuracy of their estimations, and which procedures they use to make estimations. The results show that for actual growth rates...

This paper examines a potential confirmation bias in price perception in consequence to a real-world event and different explanations for such a confirmation bias. In a panel design conducted 2 months before and after a raise in value-added tax (VAT), 303 participants had to estimate the...

It is widely acknowledged that lay and expert perspectives on the economy widely diverge. In this context, teachers and journalists play a major role because they act as promoters for economic knowledge transfer through schools and media. This study analyzes how teachers and journalists judge...

type="main" xml:id="geer12017-abs-0001" <title type="main">Abstract</title> <p>This study evaluates whether economists support economic policies such as free trade because they deem them to be good for their home country or because they increase global welfare. In a telephone survey, 100 German economists were asked to judge...</p>