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Eco-labels present a promising policy tool in the effort to achieve sustainable consumption. Many questions remain, however, about the extent to which eco-labels can contribute to sustainability efforts and how to maximize their effectiveness. This Article deploys research from evolutionary...
Persistent link: https://www.econbiz.de/10012913062
This article examines evidence for the private rationality of decisions to choose bottled water using a large …
Persistent link: https://www.econbiz.de/10014150092
In a market with hidden product details and systematic consumer biases, firms have the possibility to unshroud and thereby to rectify such market obliquities. While the classical view was that firms will have an incentive to unshroud, Gabaix and Laibson (2006) show that there exist...
Persistent link: https://www.econbiz.de/10014188427
Individuals with a preference for keeping moral obligations may dislike learning that voluntary contributions are socially valuable: Such information can trigger unpleasant feelings of cognitive dissonance. I show that if initial beliefs about the social value of contributions are sufficiently...
Persistent link: https://www.econbiz.de/10010285608
The confirmation bias is a well-known form of motivated reasoning that serves to protect an individual from cognitive discomfort. Hearing rival viewpoints or belief-opposing information creates cognitive dissonance, and so avoiding exposure to, or discounting the validity of, dissonant...
Persistent link: https://www.econbiz.de/10014080616
Choices made under risk appear to be different depending on decision problem either presented as an explicit description or experienced by subjects in a series of choices and outcomes. The difference, labeled the description-experience gap (DEG; Hertwig and Erev, 2009), has recently attracted a...
Persistent link: https://www.econbiz.de/10012962570
Recommender systems are becoming a salient part of many e-commerce websites. Much research has focused on advancing recommendation technologies to improve accuracy of predictions, while behavioral aspects of using recommender systems are often overlooked. In our studies, we explore how consumer...
Persistent link: https://www.econbiz.de/10013063621
The confirmation bias is a well-known form of motivated reasoning that serves to protect an individual from cognitive discomfort. Hearing rival viewpoints or belief-opposing information creates cognitive dissonance, and so avoiding exposure to, or discounting the validity of, dissonant...
Persistent link: https://www.econbiz.de/10013286207
We analyze how customers with limited attention value and choose among health plans. We show how the model can accommodate three observations regarding plan choice. First, people tend to overweight the premium and thus underappreciate the value of health insurance. Second, insurance companies...
Persistent link: https://www.econbiz.de/10010336265
Individuals with a preference for keeping moral obligations may dislike learning that voluntary contributions are socially valuable: Such information can trigger unpleasant feelings of cognitive dissonance. I show that if initial beliefs about the social value of contributions are sufficiently...
Persistent link: https://www.econbiz.de/10003751905