The objective of this paper is to test how priming manipulation affects time preference (subjective discount rates) and risk aversion. In this study, we exposed subjects to visual (pictorial) and textual priming for vacation and for old age in order to influence their time preference. The...

Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain numerous documented violations of classical...

The firms in this model set non-binding list prices before competing for buyers by non-cooperatively granting discounts. Each firm has an incentive to set a high list price if, for example, the customers anchor their willingness-to-pay on the list price. However, list price competition occurs if...

Tackling environmental pollution requires a permanent change in regular, repeated behavior of households. Bringing about change in such behavior may require interventions that are not limited to a single point in time, yet little evidence exists on how frequently we need to target households to...

Self-employment is considered one of the responses to precarious employment, particularly among those who lost jobs during an economic crisis. Although starting a new business is widely available, operating new ventures remains challenging. This article aims to explore the premises of...

We explore how inherent preferences for reciprocity and repeated interaction interact in an optimal incentive system. Developing a theoretical model of a long-term employment relationship, we first show that reciprocal preferences are more important when an employee is close to retirement. At...

Are poor individuals trapped by being unable to make good financial decisions? We use a randomized controlled survey experiment to examine how prompting individuals to think about their personal economic condition (priming) affects their scores on a subsequent financial literacy quiz. We find...

Online crowdfunding websites are multi-sided platforms that offer project founders the possibility to publish their project ideas, to address potential investors, and to ask for funding. The successful funding of crowdfunding campaigns is important for founders, investors, platform operators,...

Economic policy-making has long been more integrated than social policy-making in part because the statistics and much of the analysis that supports economic policy are based on a common conceptual framework – the system of national accounts. People interested in economic analysis and economic...