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Does having insurance change individuals' self-confidence?
Guber, Raphael; Kocher, Martin; Winter, Joachim - 2018
case. We show that in an insurance context, being insured against losses that may be incurred in a real-effort task changes … subjects' self-confidence. Our novel experimental design allows us to disentangle selection into insurance from the effects of … uninsured subjects are underconfident while those that obtain insurance have well-calibrated beliefs. Our results suggest that …
Persistent link: https://www.econbiz.de/10011812974
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Does having insurance change individuals self-confidence?
Guber, Raphael; Kocher, Martin; Winter, Joachim - 2018
case. We show that in an insurance context, being insured against losses that may be incurred in a real-effort task changes … subjects' self-confidence. Our novel experimental design allows us to disentangle selection into insurance from the effects of … uninsured subjects are underconfident while those that obtain insurance have well-calibrated beliefs. Our results suggest that …
Persistent link: https://www.econbiz.de/10011899247
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Timing of Predictions in Dynamic Cheap Talk : Experts vs. Quacks
Smirnov, Aleksei - 2019
The paper studies a dynamic communication game in the presence of adverse selection and career concerns. A forecaster of privately known competence, who cares about his reputation, chooses the timing of the forecast regarding the outcome of some future event. We find that in all equilibria in a...
Persistent link: https://www.econbiz.de/10012859563
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Belief Formation Under Signal Correlation
Hossain, Tanjim - 2020
This paper demonstrates the importance of simultaneously considering two behavioral biases, correlation neglect and overprecision, in characterizing belief formation. Our laboratory experiments reveal that, relative to independent signals, subjects overvalue moderately or strongly correlated...
Persistent link: https://www.econbiz.de/10012851813
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Entry and Exit Decisions Under Public and Private Information : An Experiment
Chernulich, Aleksei; Horowitz, John; Rabanal, Jean Paul; … - 2021
We design an experiment to study how reversible entry decisions are affected by public and private payoff disclosure policies. In our environment, subjects choose between a risky payoff, which evolves according to an autoregressive process, and a constant outside option payoff. The treatments...
Persistent link: https://www.econbiz.de/10013211962
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Forecasts as repeated cheap talk from an expert of unknown statistical bias
Valsecchi, Irene - 2023
For two periods an expert E announces his forecast of the state to a decision-maker D who chooses action. They disagree about the precision of the probability assessments. At the end of period 1 the state is observed. In the last period E makes announcements more extreme than his forecasts....
Persistent link: https://www.econbiz.de/10014390247
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Reputation vs selection effects in markets with informational asymmetries
Alysandratos, Theodore; Geōrganas, Sōtērēs; Sutter, … - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10013450739
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Reputation vs selection effects in markets with informational asymmetries
Alysandratos, Theodore; Geōrganas, Sōtērēs; Sutter, … - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10013448173
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Reputation vs selection effects in markets with informational asymmetries
Alysandratos, Theodore; Geōrganas, Sōtērēs; Sutter, … - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10013468203
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Hidden regret in insurance markets: Adverse and advantageous selection
Huang, Rachel J.; Muermann, Alexander; Tzeng, Larry Y. - 2008
We examine insurance markets with two types of customers: those who regret suboptimal decisions and those who don.t. In … positive correlation between the amount of insurance coverage and risk type, as in the standard economic models of adverse … selection, but there also exist separating equilibria that predict a negative correlation between the amount of insurance …
Persistent link: https://www.econbiz.de/10010303737