We experimentally test Kőszegi and Rabin's (2006, 2007) theory of reference-dependent preferences in the context of price expectations. In an incentivised valuation task, participants are endowed with a mug and provide their willingness to accept (WTA) to sell it. We manipulate the sale price...

We experimentally test Kőszegi and Rabin's (2006, 2007) theory of reference-dependent preferences in the context of price expectations. In an incentivised valuation task, participants are endowed with a mug and provide their willingness to accept (WTA) to sell it. We manipulate the sale price...

Access-based beliefs are the notion that the probability of obtaining an alternative in a choice set may directly impact beliefs about its value. Individuals may make themselves feel better by lowering beliefs of alternatives to which they have limited access; conversely, individuals may find...

Indonesia has made remarkable economic progress since the Asian Financial Crisis. To sustain its growth and achieve high-income status by 2045, it needs to address the long-standing challenge of informality. Doing so will require a coordinated policy approach informed by robust empirical...

Standard economic theory holds that beliefs about an alternative’s value are independent of the probability of it being in the choice set. Using data from two lab experiments (conducted in the US and India) and one field experiment (conducted in the US), I find consistent evidence that agents...

Indonesia has made remarkable economic progress since the Asian Financial Crisis. To sustain its growth and achieve high-income status by 2045, it needs to address the long-standing challenge of informality. Doing so will require a coordinated policy approach informed by robust empirical...

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This study examines the effect of several factors causally associated with CEO compensation on firm performance. Previous studies of the association between CEO compensation and firm perforamnce lacked sufficient use of control variables in the examination of this association. This study used a...

Pacific Basin Finance, Economics and Accounting Conference AND ADSGM International Conference

This study investigates financial cointegration of G7 equity markets. The term 'international stock market integration' refers to an area of research in financial economics that covers many different aspects of the interrelationships across equity markets. The cointegration of order tow model,...