experts. Moreover, narratives about the drivers of the inflation increase are strongly correlated with beliefs about its …

Workers wrongly anchor their beliefs about outside options on their current wage. In particular, low-paid workers … underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany … particularly pronounced among workers in low-wage firms. If workers had correct beliefs, at least 10% of jobs, concentrated in low …

We study how the subjective beliefs about loan repayment on the side of liquidity-constrained banks affect the central … banks' belief distortions and always induce the socially optimal allocation. Under uncertainty about beliefs, the central … sufficiently pessimistic beliefs realize. In extreme cases, monetary policy aims at mitigating productivity losses only, instead of …

A growing literature uses now widely available data on beliefs and expectations in the estimation of structural models … show how expectations data have been used to relax strong assumptions about beliefs and outline how they can be used in …

and treat correlated information as independent. In consequence, people's beliefs are excessively sensitive to well …-connected information sources, implying a pattern of "overshooting" beliefs. Additionally, in an experimental asset market, correlation …

: excessively optimistic beliefs about future demands on an individual's time. The models can be distinguished by how individuals …