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ask if consumers are affected by factors such as emotions and limited attention, as highlighted in behavioral economics … when the news is covered more extensively, suggesting that emotions and media attention are the main drivers of the impact. …
Persistent link: https://www.econbiz.de/10013426350
We introduce a concept of emotions that emerge when workers compare their own performance with a given standard or with … the performances of co-workers. Assuming heterogeneity among the workers the interplay of emotions and incentives is … identify certain conditions under which emotions lead to additional incentives and under which the employer benefits from …
Persistent link: https://www.econbiz.de/10010262021
cooperators relieve negative emotions when they punish free riders. In response, the free-riders experience negative emotions when …
Persistent link: https://www.econbiz.de/10010278702
People use information about their ability to choose tasks. If more challenging tasks provide more accurate information about ability, people who care about and who are risk averse over their perception of their own ability will choose tasks that are not sufficiently challenging. Overestimation...
Persistent link: https://www.econbiz.de/10010269111
Employers structure pay and employment relationships to mitigate agency problems. A large literature in economics documents how the resolution of these problems shapes personnel policies and labor markets. For the most part, the study of agency in employment relationships relies on highly...
Persistent link: https://www.econbiz.de/10010272684
The public finance literature demonstrates the equivalence between consumption and laborincome (wage) taxes. We introduce an experimental paradigm in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this paradigm to test whether a labor-income...
Persistent link: https://www.econbiz.de/10010274549
This paper reviews the problems and potential benefits of integrating personality psychology into economics. Economists have much to learn from and contribute to personality psychology.
Persistent link: https://www.econbiz.de/10010280682
This survey summarizes the classical fundamentals of modern deterrence theory, covers major theoretical and empirical findings on the impact of certainty and severity of punishment (and the interplay thereof) as well as underlying methodological problems, gives an overview of limitations and...
Persistent link: https://www.econbiz.de/10010282501
empirically, about the properties of charity auctions. The small theoretical literature suggests that the all-pay auction should … price or all-pay raises the most money. Our experiment suggests that both the all-pay and second price formats are dominated … by the first price auction. Our design also allows us to identify differential participation as the source of the …
Persistent link: https://www.econbiz.de/10010271934
We compare the revenues of a house-to-house collection for a charity before and after the introduction of the euro in a ceteris paribus setting. We find strong evidence of money illusion, supplementing earlier econometric, experimental, and survey evidence on its existence.
Persistent link: https://www.econbiz.de/10010262061