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In a pre-registered laboratory asset market study, we investigate dynamics of asset markets with zero (or close to zero) fundamental values. We introduce the "greater fool asset market game" with a zero-value token, whose price doubles in each period. We design several treatments, which differ...
Persistent link: https://www.econbiz.de/10015125380
Entrepreneurs may differentiate their ventures and attract investments by advertising that their firm produces positive externalities for society. Such signaling of entrepreneurs' trustworthiness may be a prevalent practice in these “impact investment'' opportunities. This paper investigates...
Persistent link: https://www.econbiz.de/10012899141
Using a unique dataset on gaming and credit cards, we discover that default rates are higher among individuals who spend more, more frequently, and more erratically on video games, and among those who have more and more diverse games on their mobile devices. These results are less pronounced...
Persistent link: https://www.econbiz.de/10012862080
Experimental evidence shows that the rational expectations hypothesis fails to characterize the path to equilibrium after an exogenous shock when actions are strategic complements. Under identical shocks, however, repetition allows adaptive learning, so that inertia in adjustment should fade...
Persistent link: https://www.econbiz.de/10012842597
Experimental evidence shows that the rational expectations hypothesis fails to characterize the path to equilibrium after an exogenous shock when actions are strategic complements. Under identical shocks, however, repetition allows adaptive learning, so that inertia in adjustment should fade...
Persistent link: https://www.econbiz.de/10012842925
We report on an experiment designed to explore whether a written expression of disapproval affects future levels of cooperation. In between two identical public goods games, participants play a mini dictator game that, depending on the treatment, either gives or does not give the recipient the...
Persistent link: https://www.econbiz.de/10010405218
primarily interested in how emotions influenceresponder behavior. Our findings are the following. (1) A higher take … happiness. Sincenegative emotions are experienced as painful, there is direct hedonicimpact. (2) Irritation and contempt drive …-related regulation of emotions. …
Persistent link: https://www.econbiz.de/10011301155
the intensity of ties between responders impacts the decisions, beliefs, and emotions of both the responders and the take … and expected take rate is a much better predictor of experienced emotions and destruction than the difference between the …
Persistent link: https://www.econbiz.de/10011338002
through institutional as well as emotional mechanisms. Recent studies emphasize the importance of negatively valued emotions …, such as anger, which motivate individuals to punish free riders. However, these types of emotions also trigger retaliatory … anger, ‘social’ emotions like shame and guilt need to be present for punishment to be an effective deterrent of …
Persistent link: https://www.econbiz.de/10011346451
preferences depend directly on own or others’ beliefs. It allows for incorporating, e.g., emotions, reciprocity, image concerns …
Persistent link: https://www.econbiz.de/10012213185