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We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household data from the German Socio-Economic Panel, we estimate the causal effect of changes in reference consumption, defined as the consumption level of all households who are perceived...
Persistent link: https://www.econbiz.de/10010190171
We study a novel trade-off in market transparency regulation by estimating a structural model of the German retail gasoline market. Transparent environments enable easy price comparisons and match findings. Restricting transparency such that only the cheapest offers are shown induces firms to...
Persistent link: https://www.econbiz.de/10012268956
whether flood risk perception in the housing market changes across a country after the occurrence of a catastrophic fluvial … flood. Using a comprehensive geocoded German house price data set and official flood risk maps, we exploit the July 2021 … fluvial flood that was salient across Germany as an exogenous variation to causally measure the flood risk valuation update in …
Persistent link: https://www.econbiz.de/10013413310
This paper develops a conceptual framework that can explain why economic development goes along with increases in body weight and obesity rates. We first introduce the concept of novelty consumption, which refers to an increase in food availability due to trade or innovation. Then we study how...
Persistent link: https://www.econbiz.de/10010510027
This paper develops a conceptual framework that can explain why economic development goes along with increases in body weight and obesity rates. We first introduce the concept of novelty consumption, which refers to an increase in food availability due to trade or innovation. Then we study how...
Persistent link: https://www.econbiz.de/10011715829
The literature on subjective well-being (SWB) and the environment has found robust evidence of positive net marginal SWB from pro-environmental behavior (PEB), that is, positive marginal SWB net of the associated costs in terms of money, time and effort (Finding 1). Accordingly, people could...
Persistent link: https://www.econbiz.de/10014283751
Persistent link: https://www.econbiz.de/10011602179
A longstanding question in the study of energy demand concerns the role of information as a determinant of home-efficiency improvements. Although the provision of information via home energy audits is frequently asserted to be an effective means for governments to encourage the implementation of...
Persistent link: https://www.econbiz.de/10013065966
Many economic decisions involve a substantial amount of uncertainty, and therefore crucially depend on how individuals process probabilistic information. In this paper, we investigate the capability for probability judgment in a representative sample of the German population. Our results show...
Persistent link: https://www.econbiz.de/10003845575
A longstanding question in the study of energy demand concerns the role of information as a determinant of home efficiency improvements. Although the provision of information via energy audits is frequently asserted to be an effective means for governments to encourage the implementation of...
Persistent link: https://www.econbiz.de/10014161825