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We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely available information. To test for optimal information acquisition we compare the average...
Persistent link: https://www.econbiz.de/10014247561
We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely available information. To test for optimal information acquisition we compare the average...
Persistent link: https://www.econbiz.de/10014358835
We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely-available information. We find consumers acquire information suboptimally; there is little...
Persistent link: https://www.econbiz.de/10014372499
The literature on the energy-efficiency gap discusses the status-quo bias as a behavioral anomaly that potentially … increases a household’s energy consumption. We empirically investigate the extent to which the status-quo bias is linked to … from a large household survey conducted in three European countries, we find that our measure of status-quo bias is a …
Persistent link: https://www.econbiz.de/10014109838
The literature on the energy-efficiency gap discusses the status-quo bias as a behavioral anomaly that potentially … the extent to which the presence of a bias towards the status quo is linked to residential electricity consumption through … from a large household survey conducted in three European countries, we find that our measure of status-quo bias is a …
Persistent link: https://www.econbiz.de/10014110522
We examine the impact of reputational concerns on seeking advice. While seeking can improve performance, it may affect how others perceive the seeker's competence. In an online experiment with white-collar professionals (N=2,521), we test how individuals navigate this tradeoff and if others'...
Persistent link: https://www.econbiz.de/10014495025
Persistent link: https://www.econbiz.de/10012129802
Persistent link: https://www.econbiz.de/10011420837
We empirically assess whether hindsight bias has consequences on how citizens evaluate their political actors. Using an …. Exogenous variation in the extent of hindsight bias, induced through random assignment to survey structures, allows us to show … that hindsight bias causally reduces trust in government. …
Persistent link: https://www.econbiz.de/10013205089
We first provide evidence of some retail investors taking real trading (selling) decisions which are clearly sub-optimal even from an ex-ante perspective. We then show that these investors also exhibit stronger investment biases, namely, the disposition effect, underdiversification, preference...
Persistent link: https://www.econbiz.de/10012120317