There have been significant changes in the personal credit card market over the past decade, partly reflecting the Reserve Bank’s reforms from the early 2000s, which were aimed at improving efficiency and competition in the payments system. One of the effects of the reforms has been an...

Using a stochastic dominance approach in an international dataset of about 10,000 Catholic subjects, we show that incentives (based on absolute belief) play a crucial role in religious practice (church attendance and prayer). Furthermore, we find that when both positive (heaven) and negative...

Using a stochastic dominance approach in an international dataset of about 10,000 Catholic subjects, we show that incentives (based on absolute belief) play a crucial role in religious practice (church attendance and prayer). Furthermore, we find that when both positive (heaven) and negative...

This paper provides an empirical demonstration of high stakes incentives in relation to religious practice. It shows that, when both positive (carrot) and negative (stick) incentives are available, the former are more effective than the latter. Specifically, it is shown that beliefs in heaven...