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Add-on pricing in retail financial markets and the fallacies of consumer education
Kosfeld, Michael; Schüwer, Ulrich - 2014
This paper explores consequences of consumer education on prices and welfare in retail financial markets when some …
Persistent link: https://www.econbiz.de/10010337570
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Pricing in retail financial markets and the fallacies of consumer education
Kosfeld, Michael; Schüwer, Ulrich - 2016
We analyze the consequences of consumer education on prices and welfare in retail financial markets when some consumers … new equilibrium in which banks discriminate between consumer types. Welfare analysis reveals that education, while … banks respond by setting higher prices. Overall, the welfare effects of consumer education can be negative. Our results …
Persistent link: https://www.econbiz.de/10012061092
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Consumer myopia, competition and the incentives to unshroud add-on information
Wenzel, Tobias - 2013
This paper studies unshrouding decisions in a framework similar to Gabaix and Laibson (2006), but considers an alternative unshrouding mechanism where the impact of advertising add-on information depends on the number of unshrouding firms. We show that shrouding becomes less prevalent as the...
Persistent link: https://www.econbiz.de/10010223577
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Choice complexity and market competition
Spiegler, Ran - In: Annual review of economics 8 (2016), pp. 1-25
Persistent link: https://www.econbiz.de/10011743157
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Ownership structures in network industries when the rationality of regulators is bounded
Colombo, Massimo G. - In: Industrial and corporate change 6 (1997) 4, pp. 783-806
Persistent link: https://www.econbiz.de/10001338061
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Information overload in multi-stage selection procedures
Ficco, Stefano; Karamychev, Vladimir A. - 2004
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10011335195
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Capacity constraints and beliefs about demand
Vikander, Nick - 2010
This paper examines how a firm can strategically choose its capacity to manipulate consumer beliefs about aggregate demand. It looks at a market with social effects where consumers want to do what is popular, to buy what they believe others want to buy. By imposing a capacity constraint and...
Persistent link: https://www.econbiz.de/10011382750
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Who lacks pension knowledge, why and does it matter? : evidence from Swedish retirement savers
Elinder, Mikael; Hagen, Johannes; Nordin, Mattias; … - 2020
Recent pension reforms have shifted a larger responsibility towards savers. Individuals therefore need better knowledge of the rules and incentives embedded in the pension system to adequately save and prepare for retirement. In this paper, we use a novel Swedish survey matched with high-quality...
Persistent link: https://www.econbiz.de/10012384259
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What you see is all there is
Enke, Benjamin - 2020
News reports and communication are inherently constrained by space, time, and attention. As a result, news sources often condition the decision of whether to share a piece of information on the similarity between the signal and the prior belief of the audience, which generates a sample selection...
Persistent link: https://www.econbiz.de/10012171711
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Incentive complexity, bounded rationality and effort provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014309731