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Choice, deferral, and consistency
Costa‐Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1297-1318
We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced‐choice experiments and models can be helpful in separating people …
Persistent link: https://www.econbiz.de/10013382078
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Who Cares about social image?
Friedrichsen, Jana; Engelmann, Dirk - 2017
This paper experimentally investigates how concerns for social approval relate to intrinsic motivations to purchase ethically. Participants state their willingness-to-pay for both a fair trade and a conventional chocolate bar in private or publicly. A standard model of social image predicts that...
Persistent link: https://www.econbiz.de/10011587460
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Correlation neglect in belief formation : conference paper
Enke, Benjamin; Zimmermann, Florian - 2013
A frequent feature of information structures is that they generate signals which are not mutually independent, but rather rely on a common set of underlying information. Using a simple experimental design, we show that in such contexts many people neglect correlations in the updating process,...
Persistent link: https://www.econbiz.de/10010339934
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Who cares for social image? : interactions between intrinsic motivation and social image concerns ; conference paper
Friedrichsen, Jana; Engelmann, Dirk - 2013
We consider the interaction of intrinsic motivation and concerns for social approval in a laboratory experiment. We elicit a proxy for Fairtrade preferences before the experiment. In the experiment, we elicit willingness to pay for conventional and Fairtrade chocolate. Treatments vary whether...
Persistent link: https://www.econbiz.de/10010342805
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Who cares for social image? : interactions between intrinsic motivation and social image concerns
Friedrichsen, Jana; Engelmann, Dirk - 2013
We consider the interaction of intrinsic motivation and concerns for social approval in a laboratory experiment. We elicit a proxy for Fairtrade preferences before the experiment in which we elicit willingness to pay for conventional and Fairtrade chocolate. Treatments vary whether this can be...
Persistent link: https://www.econbiz.de/10010223073
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Tariff-mediated network effects with incompletely informed consumers
Muck, Johannes - 2016
I explore the competitive effects of on-net/off-net differentiation in a market with two asymmetric networks by combining the literature on on-net/off-net differentiation with research on costly consumer search in an agent-based simulation model. All consumers in the market are subscribed to one...
Persistent link: https://www.econbiz.de/10011416583
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Casting light on energy efficiency : evidence on consumer inattention and imperfect information
Rodemeier, Matthias; Löschel, Andreas; Kube, Roland - 2017
We investigate consumer inattention and imperfect information regarding the financial benefits of energy-efficient lighting using a randomized controlled trial with 1,084 observations. Results suggest that subjects generally know about cost savings of LED bulbs - the central lighting technology...
Persistent link: https://www.econbiz.de/10011594402
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Behavioral research and empirical modeling of marketing channels : Implications for both fields and a call for future research
Meyer, Robert J. - 2020
Game-theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game-theoretic...
Persistent link: https://www.econbiz.de/10012857645
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CHOICE – What Can Go Wrong?
McFadden, Daniel - National Bureau of Economic Research - 2023
The elegant economic picture of rational consumers achieving Pareto optimality through trade in decentralized self-organized markets is blurred by market imperfections and choices inconsistent with consumer self-interest. Behavioral economics has documented these errors in choice, and considered...
Persistent link: https://www.econbiz.de/10014250182
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The nature of risk preferences: Evidence from insurance choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2011
We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...
Persistent link: https://www.econbiz.de/10010292086