In this paper we present an experiment on the false consensus effect. Unlike previous experiments, we provide monetary …

another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple … change consumption according to the suggestion of the label. A controlled laboratory experiment confirms this result and …

Fungibility of money is a central assumption in the theory of consumer choice: any unit of money is substitutable for … another. This implies that the composition of income or wealth is irrelevant for consumption. We find in a field experiment … of their budget, subjects change consumption according to the label. A controlled laboratory experiment confirms this …

another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple … change consumption according to the suggestion of the label. A controlled laboratory experiment confirms this result and … consumers ; field experiment ; laboratory experiment …

outcomes. Our evidence is based on an experiment in which subjects repeatedly invest in two identical, uncorrelated, risky …

experiment. In each period of their life both partners propose a consumption level of which one is then randomly implemented …