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Worker beliefs about outside options
Jäger, Simon; Roth, Christopher; Roussille, Nina; … - 2022
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 …
Persistent link: https://www.econbiz.de/10012799502
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010396967
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010397879
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The curse of knowledge increases self-selection into competition : experimental evidence
Danz, David - 2014 - Rev.
The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010403249
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The curse of knowledge increases self-selection into competition : experimental evidence ; conference paper
Danz, David - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010488505
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - Abteilung "Verhalten auf Märkten", … - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010955334
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - Verein für Socialpolitik - VfS - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10011163925
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Information Frictions among Firms and Households
Link, Sebastian; Peichl, Andreas; Roth, Christopher; … - 2022
We survey samples of German firms and households to document novel stylized facts about the extent of information frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less dispersed than households', consistent with higher...
Persistent link: https://www.econbiz.de/10013177731
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Information frictions among firms and households
Link, Sebastian; Peichl, Andreas; Roth, Christopher; … - 2022
We survey samples of German firms and households to document novel stylized facts about the extent of information frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less dispersed than households', consistent with higher...
Persistent link: https://www.econbiz.de/10013178163
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Information Frictions among Firms and Households
Link, Sebastian; Peichl, Andreas; Roth, Christopher; … - 2021
We leverage survey data from Germany, Italy, and the US to document several novel stylized facts about the extent of information frictions among firms and households. First, firms' expectations about the central bank policy rate, inflation, and aggregate unemployment are more aligned with expert...
Persistent link: https://www.econbiz.de/10013202281