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We show that prior lifetime experiences can "scar" consumers. Consumers who have lived through times of high unemployment exhibit persistent pessimism about their future financial situation and spend significantly less, controlling for the standard life-cycle consumption factors, even though...
Persistent link: https://www.econbiz.de/10012126124
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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
In a large-scale online experiment with U.S. Democrats, we examine how the demand for a newsletter about an economic relief plan changes when the newsletter content is fact-checked. We first document an overall muted demand for fact-checking when the newsletter features stories from an...
Persistent link: https://www.econbiz.de/10012668494
In a large-scale online experiment with U.S. Democrats, we examine how the demand for a newsletter about an economic relief plan changes when the newsletter content is fact-checked. We first document an overall muted demand for factchecking when the newsletter features stories from an...
Persistent link: https://www.econbiz.de/10012663061
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that participants with present bias are predicted to consume on average 9% more electricity than participants with time …
Persistent link: https://www.econbiz.de/10012025609
This paper tests whether heterogeneity of time preferences can explain individual credit behavior. In a field experiment targeting individuals from low-to-moderate income households, we measure individual time preferences through choice experiments, and then match these time preference measures...
Persistent link: https://www.econbiz.de/10003715716
Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...
Persistent link: https://www.econbiz.de/10003859319
In dieser Analyse schätzen wir den Einfluss von Gewohnheits-(Habits) gegenüber Vergleichsmotiven (Envy) zur Erklärung des Konsumverhaltens US-amerikanischer Haushalte. Wir verwenden Daten der seit August 2013 erhältlichen Konsumerhebungen des Panel Study of Income Dynamics (PSID) für den...
Persistent link: https://www.econbiz.de/10010201638