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We study collective decisions by time-discounting individuals choosing a common consumption stream. We show that with any heterogeneity in time preferences, utilitarian aggregation necessitates a present bias. In lab experiments three quarters of `social planners' exhibited present biases, and...
Persistent link: https://www.econbiz.de/10013065273
We study a vote buying setup where a committee votes on a proposal important to the vote buyer. We characterize the cheapest combination of bribes that guarantees the proposal's passing in different voting environments. We find that for both simultaneous and sequential votes, the vote buyer...
Persistent link: https://www.econbiz.de/10012833674
Persistent link: https://www.econbiz.de/10010400565
This article contrasts the secular and Catholic literature on consumerism and its implications for liberty. Three specific questions are considered: Is consumerism harmful to liberty? Is it a necessary consequence of a market economy? Who is responsible for consumerism? The article shows that...
Persistent link: https://www.econbiz.de/10014220374
Persistent link: https://www.econbiz.de/10009755392
This paper develops and offers the theory of embodied social presence (ESP). The paper reviews the literature on place and space, presence, and embodiment and demonstrates that the role of the body as a focal point for action during social interaction in multi-user virtual environments has been...
Persistent link: https://www.econbiz.de/10014213754
This chapter examines how the original tenets of the affect-as-information hypothesis can be extended to explain a wide range of judgment phenomena, especially with respect to consumer decision making. To this end, research within social psychology as well as research from other fields such as...
Persistent link: https://www.econbiz.de/10014218375
We study the consumption behaviour of an asymmetric network of heterogeneous agents in the framework of discrete choice models with stochastic decision rules. We assume that the interactions among agents are uniquely specified by their "social distance" and consumption is driven by peering,...
Persistent link: https://www.econbiz.de/10014143066
Online labor markets provide new opportunities for behavioral research, but conducting economic experiments online raises important methodological challenges. This particularly holds for interactive designs. In this paper, we provide a methodological discussion of the similarities and...
Persistent link: https://www.econbiz.de/10012963854
Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To operationalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed...
Persistent link: https://www.econbiz.de/10012948689