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Proud to not own stocks: How identity shapes financial decisions

Henkel, Luca; Zimpelmann, Christian - 2022

experimental evidence that such perceptions of identity-relevant characteristics causally influence decisionmaking: if people view … administrative data, we show that negative perceptions strongly predict households' stock market participation, more so than leading … alternative determinants. Beyond investment decisions, perceptions predict individuals' polarizing behavior towards stockholders …

Persistent link: https://www.econbiz.de/10014374367

Prolonged learning and hasty stopping: The Wald problem with ambiguity

Auster, Sarah; Che, Yeon-Koo; Mierendorff, Konrad - 2022

This paper studies sequential information acquisition by an ambiguity-averse decision maker (DM), who decides how long to collect information before taking an irreversible action. The agent optimizes against the worst-case belief and updates prior by prior. We show that the consideration of...

Persistent link: https://www.econbiz.de/10013480172

Recent advances in studies of news consumption

Capozza, Francesco; Haaland, Ingar; Roth, Christopher; … - 2022

We review recent advances in the literature on news consumption. We first provide an overview of different empirical techniques to measure news consumption, including browser data, TV viewership data, and survey-based measures. We also discuss the pros and cons of these different techniques. We...

Persistent link: https://www.econbiz.de/10013480182

Attention to the macroeconomy

Link, Sebastian; Peichl, Andreas; Roth, Christopher; … - 2023

We provide evidence on the dynamics, drivers, and consequences of attention to the macroeconomy using tailored panel surveys of German firms and households. Draw-ing on novel measures of attention based on open-ended questions collected before and during a historic shock to inflation, we...

Persistent link: https://www.econbiz.de/10014475799

Can information be too much? Information source selection and beliefs

Amelio, Andrea - 2023

investigates how the number of available information sources impacts agents' ability to (i) select reliable sources and (ii) use …

Persistent link: https://www.econbiz.de/10014475802

Contingent belief updating

Aina, Chiara; Amelio, Andrea; Brütt, Katharina - 2023

We study how contingent thinking - that is, reasoning through all possible contingencies without knowing which is realized - affects belief updating. According to the Bayesian benchmark, beliefs updated after exposure to new information should be equivalent to beliefs assessed for the...

Persistent link: https://www.econbiz.de/10014475805

Mental models of the stock market

Andre, Peter; Schirmer, Philipp; Wohlfart, Johannes - 2023

Investors' return expectations are pivotal in stock markets, but the reasoning behind these expectations remains a black box for economists. This paper sheds light on economic agents' mental models - their subjective understanding - of the stock market, drawing on surveys with the US general...

Persistent link: https://www.econbiz.de/10014475810

When product markets become collective traps: The case of social media

Bursztyn, Leonardo; Handel, Benjamin; Jiménez Durán, … - 2023

Individuals might experience negative utility from not consuming a popular product. For example, being inactive on social media can lead to social exclusion or not owning luxury brands can be associated with having a low social status. We show that, in the presence of such spillovers to...

Persistent link: https://www.econbiz.de/10014475818

Information experiments

Haaland, Ingar; König, Julian; Roth, Christopher; … - 2024

Information provision experiments have become pivotal in understanding how beliefs influence human behavior in various social science contexts. These experiments, which manipulate the information sets available to respondents, enable the exogenous alteration of beliefs and perceived constraints,...

Persistent link: https://www.econbiz.de/10014475822

Fake news: Susceptibility, awareness and solutions

Assenza, Tiziana; Cardaci, Alberto; Huber, Stefanie J. - 2024

This paper investigates and quantifies citizens' susceptibility to fake news and assesses, using a randomized control trial, the effectiveness of a policy intervention to raise awareness. We find that the average citizen lacks proficiency in identifying fake news and harbors an inflated...

Persistent link: https://www.econbiz.de/10014525236