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Global migration and the role of terrorist attacks Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-29 Killian Foubert, Ilse Ruyssen
This paper analyses how terrorism has shaped global bilateral migration in the past decades. Previous research demonstrates a wide range of psychological and economic effects from terrorism which might serve as a push and/or counter-pull factor for migration and location choice. Yet, the role of terrorism has so far received relatively limited attention in the migration literature. Combining data on
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Measures of cognitive ability and choice inconsistency Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-28 Helene Willadsen, Sarah Zaccagni, Marco Piovesan, Erik Wengström
Cognitive skills affect individual choices. Researchers commonly use Raven's Progressive Matrices (RPM) tests and the Cognitive Reflection Test (CRT) to assess the relationship between cognitive abilities and economic decision making. In this paper, we study the relationship between these measures, and investigate the extent to which they are correlated and whether they are best described as substitutes
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The role of NGOs in climate policies: The case of Tunisia Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Adel BEN YOUSSEF
In this study, we examine the influential role of non-governmental organizations (NGOs) in shaping climate policy in Tunisia. Tunisia is a critical front in the global green transition. Our findings highlight how improved working conditions significantly increase NGO participation in climate initiatives, underscoring the value of a supportive operating environment. Growing professionalism within NGOs
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Gender peer effects in high schools: Evidence from India Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Prerna Dewan, Tridip Ray, Arka Roy Chaudhuri, Kirti Tater
This paper presents evidence of gender peer effects in high schools in India using new administrative data. Identification of gender peer effects is achieved by exploiting variation induced by idiosyncratic changes in gender composition across cohorts within schools, in addition to controlling for past scores. The proportion of female classmates in a student's cohort has a sizeable positive effect
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Privatization in competitive environment: Evidence from Finland's manufacturing sector Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Sakari Lähdemäki
This paper studies the effects of privatization on establishments/plants operating in Finland's manufacturing sector during 1988-2012, concentrating on operational efficiency (sales/ employment). Finland's privatizations allow considering a quasi-experimental design. Therefore, the paper utilizes standard and generalized event-study designs using a control group matched from similar private establishments
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Integrating narrow and wide framing disposition effect: A novel approach incorporating perceived risk and realized asset performance Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Luca Vincenzo Ballestra, Andrea Guizzardi, Lorenzo Mazzucchelli
This paper proposes an integrated framing approach to investigate the disposition effect by linking it to regret and prospect theory. We build upon the wide framing hypothesis and extend prior research by including metrics of perceived risk and the number of days stocks are at a gain. Using a sample of 24 million trading operations conducted by nearly 4,000 Italian investors from 2010 to 2018, we demonstrate
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Wage – price dynamics and financial market in a disequilibrium macro model: A Keynes – Kaldor – Minsky modeling of recession and inflation using VECM Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Pu Chen, Willi Semmler
This paper studies wage-price dynamics in the context of a disequilibrium macro model where there are two Phillips curves (PC's), a wage PC and price PC. We adapt this framework but introduce a Kaldorian delay effect in wage dynamics whereby output and sales predate wage dynamics. Along Keynesian lines aggregate demand drives output, but output is also impacted from the supply side, through Minsky
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A fistful of dollars: Rent seeking behaviour and local tax manipulation Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-27 Tommaso Giommoni
The aim of this paper is to study whether politicians manipulate tax policy to extract private rents. We focus on the local personal income tax in the setting of Italian cities, which is a progressive instrument that allows mayors to set different rates to distinct wage groups. We exploit discontinuities in mayors' salaries, that are based on population thresholds, to study whether mayors apply lower
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Performance prediction and performance-based task allocation Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-24 Stefan T. Trautmann, Martin Vollmann, Christoph Becker
Self-perception and perception by others can diverge. Such differences can play an important role in corporate governance settings, for example in the context of task allocation. We run two experiments to study how predictions about own performance and the performance of others develop over time and how they influence allocation in performance-based decisions. Our findings indicate that people underestimate
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Preferences for maximum daily returns Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-23 Maren Baars, Hannes Mohrschladt
Previous research shows that individual investors are attracted to stocks with high maximum daily returns in the previous month (MAX). We examine the underlying sources of this preference. In a discrete choice investment experiment, subjects prefer high-MAX stocks only if these stocks are speculative with a comparably high level of return volatility. However, after controlling for volatility, subjects
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Abuse of power Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-22 Leonard Hoeft, Wladislaw Mill
Punishment institutions are a major guarantor of prosocial behavior. At the same time, their asymmetrical power structure may lead to antisocial behavior itself. We investigate power abuse, understood as the use of power for personal gain, of a single punisher in a public-goods game subject to variations in punishment power and contribution transparency. Using a laboratory experiment we find a high
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Conformism, social pressure, and the dynamics of integration Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-22 Gonzalo Olcina, Fabrizio Panebianco, Yves Zenou
We consider a model in which each individual belonging to an ethnic minority group is embedded in a network of relationships and decides whether she wants to be integrated in the society. Each individual wants her behavior to agree with her personal ideal preference for integration but also wants her behavior to be as close as possible to the average integration behavior of her peers. We show that
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Power asymmetry in repeated play of provision and appropriation games Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-21 James C. Cox, Vjollca Sadiraj, James M. Walker
This paper studies the effect of power asymmetry on resolution of social dilemmas in repeated play of linear public good games. The experiment uses a 2 × 2 design that crosses power symmetry or asymmetry in payoff-equivalent provision and appropriation games with positive (provision) or negative (appropriation) externalities. Power asymmetry combines privileged access to information with extended opportunity
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Tradeoff between local protection and public sector performance: Lessons from judicial fiscal centralization Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-21 Da Zhao, Jingyuan Guo, Shule Yu, Litian Yu
A fundamental governance challenge facing central authorities is how to mitigate the prevalent local protection against non-local firms. We document that judicial fiscal centralization—transferring local courts’ budgetary power from local governments to provincial finance departments—significantly increases the winning probability of non-local plaintiffs (defendants) against local defendants (plaintiffs)
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Optimal insurance deductibles under limited information Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-20 Jan-Christian Fey, Hato Schmeiser, Florian Schreiber
When determining the optimal deductible level for an insurance policy, a policyholder faces two limitations. First, uncertainty arises from the randomness of future losses. Second, the opacity of the functional forms of the policyholder's loss distribution and utility function contributes to additional limitations. While the academic literature focuses on the former, we additionally include limited
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Ambiguous persuasion in contests Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-20 Xin Feng
We study optimal information disclosure via an ambiguous persuasion approach in a two-player contest. The designer can precommit to an ambiguous device to influence the uninformed contestant's belief about his opponent's private type. We fully characterize the optimal ambiguous information structures when players are maxmin expected utility (MMEU) maximizers. Depending on the prior, it is optimal to
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Political freedom and financial inclusion: Unraveling social trust and political rent-seeking Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-19 Yechi Ma, Yibing Ding, Ziwen Bu, Suyang Li
This paper delves into the role of political rights in shaping financial inclusion. Despite the acknowledged significance of political institutions in influencing financial systems, there remains limited understanding of the economic origins of the impact of political institutions on financial inclusion. Utilizing data from the 2021 Global Findex database, the study finds that weak political rights
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Gasoline price changes and consumer inflation expectations: Experimental evidence Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-19 Felix Aidala, Olivier Armantier, Gizem Koşar, Jason Somerville, Giorgio Topa, Wilbert van der Klaauw
Using an experimental approach, we show that inflation expectations respond to gasoline price fluctuations. The effect, however, is small compared to other goods (food, durable goods) and not disproportionately large relative to the expenditure share of gasoline in households' basket. The effect also weakens with the forecast horizons and displays substantial asymmetry: inflation expectations respond
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Bearing the burden — Implications of tax reporting institutions on evasion and incidence Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-19 Kaisa Kotakorpi, Tuomas Nurminen, Topi Miettinen, Satu Metsälampi
We investigate effects of tax reporting institutions on evasion and incidence using an experimental double auction market. We find that 28% of the sellers are truthful when only sellers report, but that 88% and 64% of them are truthful under costless and costly third-party reporting by buyers, respectively. Reporting behavior therefore responds to the intensity of deterrence. However, we find that
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Inequality shapes the propagation of unethical behaviours: Cheating responses to tax evasion along the income distribution Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-19 Andrea F.M. Martinangeli, Lisa Windsteiger
Does the dissemination of salient information about tax dishonesty, such as high profile tax evasion or avoidance, facilitate the propagation of unethical behaviours, and in what way? We investigate this question in a large scale survey experiment on more than 4000 Italians. We find that how information about greater tax evasion affects dishonesty and perceived tax compliance norms depends on the income
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The democracy effect: A weights-based estimation strategy Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-17 Pedro Dal Bó, Andrew Foster, Kenju Kamei
Dal Bó et al. (2010) show experimentally that the effect of a policy may be greater when it is democratically selected than when it is exogenously imposed. In this paper we propose a new and simpler estimation strategy that does not require information on the vote of subjects in the exogenous treatment. The new estimation strategy is based on calculating the average behavior under democracy by weighting
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Response, awareness and requester identity in FOI law: Evidence from a field experiment Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-16 Lorenzo Cicatiello, Elina De Simone, Fabrizio Di Mascio, Giuseppe Lucio Gaeta, Alessandro Natalini, Ben Worthy
Freedom of Information (FOI) is considered a crown jewel of reforms fostering public administration transparency and accountability. However, FOI's symbolic power alone cannot overcome the organizational barriers and obstacles to its effective implementation. This paper presents the results of a field experiment performed in Italy, a late FOI adopter, where an FOI request was sent to the 307 municipalities
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Heritability across different domains of trust Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-16 Nathan Kettlewell, Agnieszka Tymula
Using a large sample of 1,120 twins and the multivariate ACE-Cholesky model, we estimated the heritability of trust using four distinct measures of trust – domain-specific political trust, general self-reported trust, and incentivized behavioral trust and trustworthiness. Across the different measures of trust we consider, our estimates for heritability range from 1 % to 37 %. Furthermore, the environmental
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Longing for which home: A global analysis of the determinants of aspirations to stay, return or migrate onwards Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-16 Els Bekaert, Amelie F. Constant, Killian Foubert, Ilse Ruyssen
Most migration studies and theories focus on understanding the initial migration of people from their home country. Less attention has been paid to the factors influencing immigrants’ preferences to either permanently settle in the host country, return to their home country or move onwards to another destination. Understanding the characteristics and motives of those who aspire to leave the host country
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Experimental evidence on the role of outside obligations in wage negotiations Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-15 Shakun D. Mago, Jennifer Pate, Laura Razzolini
We examine how sharing information about outside obligations impacts wage negotiations. We consider an ‘employee’ with an outside obligation, whose performance determines the surplus and an ‘employer’ with the power-to-give, who determines the employee's wage. We find that wage offers increase with obligation amounts when the level of obligation is known. However, the employer simply redistributes
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Reading the market? Expectation coordination and theory of mind Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-15 Te Bao, Sascha Füllbrunn, Jiaoying Pei, Jichuan Zong
Suppose that all asset market traders are proficient at . Would markets become more stable, resulting in lower volatility and fewer price bubbles? To answer this question, we test whether Theory of Mind (ToM) capabilities enhance expectation coordination and reduce expectation heterogeneity and price bubbles in learning-to-forecast experiments. We compare the price and expectation dynamics between
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An optimal allocation of asylum seekers Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-14 Oded Stark, Grzegorz Kosiorowski
We formulate a rule for allocating asylum seekers that is based on the social preferences of the native workers of the receiving countries. To derive the rule, we construct for each country a social welfare function, , where the social welfare of a population is determined both by the population's aggregate absolute income and by the population's aggregate relative income. In a utilitarian manner,
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Territory in the state of nature Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-13 Jordan Adamson, Bart J. Wilson
In this paper we examine territorial behavior in the ecological conditions that foster conflict. We develop an economic model that isolates the effects of resource skew on territorial ranges, as well as their interactions with unequal appropriation abilities. We then conduct a controlled laboratory experiment to test the predictions of our model and find that observed behavior tends to cluster around
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Public entry and private prices: New evidence from Indian pharmaceutical markets Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-09 Chirantan Chatterjee, Samarth Gupta
How do private firms respond to the entry of a vertically differentiated public firm? Answering this question can help design policies to balance redistribution against private-sector investment. In this paper, we study the pricing strategies of private-sector pharmacies after the entry of public-private dispensaries which sell discounted generic drugs. Public firm attracts away the quality agnostic
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Pivotal or popular: The effects of social information and feeling pivotal on civic actions Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-08 Laura K. Gee, Anoushka Kiyawat, Jonathan Meer, Michael J. Schreck
We examine the combined effects of popularity and feelings of being important to reaching a goal by testing how people react to (1) situations in which their own behavior is pivotal or not, as well as (2) the popularity of the action. We conduct a laboratory experiment to cleanly fix beliefs about the person's likelihood of being pivotal in reaching a donation threshold that triggers a matching gift
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Do people pay attention to climate change? Evidence from Italy Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-08 Marta Crispino, Michele Loberto
We investigate the determinants of people's attention to climate change in Italy. We propose a Twitter-based indicator consistent with traditional survey data but potentially available at a higher frequency and spatial granularity. We show that attention to climate change is heterogeneous across the country and correlated with socioeconomic characteristics and social capital. Mass media and social
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The influence of supermarket prices on consumer inflation expectations Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-08 Chew Lian Chua, Sarantis Tsiaplias
Using data on the inflation expectations of 85 thousand consumers and a unique data set of price changes at Australian supermarkets, we show that consumers form inflation expectations that are excessively influenced by particular elements of the cross-sectional distribution of price changes. The estimates provide novel evidence that the right tail of supermarket price changes, which has largely been
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Consideration sets and reference points in a dynamic bargaining game Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-08 Emin Karagözoğlu, Kerim Keskin
We introduce the notion of limited consideration into a bilateral, infinite-horizon, alternating-offers bargaining game. Both agents have reference-dependent preferences, and their reference points are dynamically updated. An agent's current consideration set (or focus) is influenced by the last offer he rejected such that the most salient point in that consideration set becomes his current reference
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Institutions, international financial integration, and output growth Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-08 Michael Binder, Ying Lun Cheung, Georgios Georgiadis, Sunil Sharma
The paper investigates the long-run output effects of international financial integration, and in particular their dependence on a country's institutions as proxied by the quality of governance and the level of domestic financial market development. The econometric framework takes account of heterogeneous short- and long-run dynamics, state-dependent thresholds for governance quality and financial
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Village social structure and labor market performance: Evidence from the Philippines Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-06 A. Stefano Caria, Julien Labonne
This paper studies how social structure — the pattern of social links that connect individuals in a community — affects labor markets. Under competing views on the role of networks, social structures that discourage network hiring could improve or hinder labor market performance. We test these competing views using data on marriage networks in 15,000 villages, combined with labor force survey data
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Peer-to-peer solar and social rewards: Evidence from a field experiment Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-05 Stefano Carattini, Kenneth Gillingham, Xiangyu Meng, Erez Yoeli
Observability has been demonstrated to influence the adoption of pro-social behavior in a variety of contexts. This study implements a natural field experiment to examine the influence of observability in the context of a novel pro-social behavior: peer-to-peer solar. Peer-to-peer solar offers an opportunity to households who cannot have solar on their homes to access solar energy from their neighbors
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Market value of rarity: A theory of fair value and evidence from rare baseball cards Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-03 Soroush Ghazi, Mark Schneider
We investigate the market value of rarity theoretically and empirically. Prior studies find that the market value of rarity follows a power law, but this finding lacks a theoretical foundation. We provide a micro-foundation for this finding, demonstrating that the observed power law emerges in a competitive market where agents have rank-dependent utility preferences. The model leads to two new theoretical
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The beauty of prosocial behavior: The bi-directional link between attractiveness and prosocial behavior Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-02 Kajsa Hansson, Hooman Habibnia, Minou Goetze, Susann Fiedler
This study explores the bi-directional relationship between attractiveness and prosocial behavior. While it is known that we often expect attractive people to act more prosocial, this research also examines how someone's actions can affect how attractive we perceive them to be. In a pre-registered incentivized behavioral experiment ( = 250), using avatar pictures representative of previous players
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Demand shock propagation through input-output linkages in Japan Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-01 Yoshiyuki Arata, Daisuke Miyakawa
Focusing on the sharp declines in exports during the global financial crisis and consumption during the COVID-19 pandemic, we empirically estimate the propagation of demand shocks from customers to their suppliers through firm-level input-output linkages in Japan. We find economically significant propagation of demand shocks and show that the strength of the propagation depends on firm sizes. During
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Attractiveness vs. Partisan stereotypes Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-02-01 Carmelo Licata, Pierre-Guillaume Méon
Using two surveys, we study how respondents process visual cues to identify the political orientation (left- vs. right-wing) of members of the French National Assembly (referred to as “deputies”), based on official photographs only. We first confirm that respondents outperform random guesses. Second, we find that their categorizations correlate with observable characteristics (tie color, facial hair)
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Kinship can hinder cooperation in heterogeneous populations Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-29 Boyu Zhang, Yali Dong, Cheng-Zhong Qin, Sergey Gavrilets
Kin selection and direct reciprocity are two most basic mechanisms for promoting cooperation in human society. Generalizing the standard models of the multi-player Prisoner's Dilemma and the Public Goods games to allow for asymmetric cost-benefit ratios across the players, we study the effects of genetic relatedness on cooperation in the context of repeated interactions. Two sets of interrelated results
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Financial fraud and investor awareness Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-23 Zhengqing Gui, Yangguang Huang, Xiaojian Zhao
In a retail financial market, firms strategically choose whether to commit financial fraud to exploit naive investors who are unaware of such practices. In a leader-follower setting, we identify a segmented equilibrium in which an honest firm offers a normal product to sophisticated investors, while a dishonest firm offers a fraudulent product that targets naive investors. Competition may not benefit
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On the relational aspects of trust and trustworthiness: Results from a laboratory experiment Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-26 Federica Alberti, Anna Conte, Daniela T. Di Cagno, Emanuela Sciubba
Do we trust better-connected people more than others and are those who are better connected more trustworthy? Interaction in social networks affects trust as it helps reduce informational asymmetries and identify those whom to trust. It also provides channels for reciprocity where trustworthiness emerges as a relational rather than individual characteristic. We run a laboratory experiment in which
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Welfare and competition in expert advice markets Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-22 Andrea Albertazzi, Matteo Ploner, Federico Vaccari
We perform a controlled experiment to study the welfare effects of competition within a strategic communication environment. Two equally informed senders with conflicting interests can misreport information at a cost. We compare a treatment where only one sender communicates to a treatment where both senders privately communicate with a decision-maker, all else equal. Data show that competition fails
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Promotion and demotion contests Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-24 Jonathan Levy, Jingjing Zhang
With a fixed prize budget, to increase total effort, we design a two-stage lottery contest where heterogeneous agents face the prospect of promotion and the threat of demotion from one stage to the next. We develop two competing theoretical models to generate predictions about behavior: (i) the standard economic model and (ii) a behavioral model where agents derive non-monetary utility from winning
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Overconfidence, financial literacy and excessive trading Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-24 Koen Inghelbrecht, Mariachiara Tedde
This paper examines how overconfidence in financial literacy, as measured by MiFID test scores, impacts investors' trading behavior. Our theoretical model suggests that overconfident investors exhibit a higher demand for risky assets, potentially underperform compared to rational investors, and face higher transaction costs, thereby benefiting brokers. Furthermore, the impact of overconfidence intensifies
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Migrants, experience, and working conditions in Bangladeshi garment factories Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-24 Laura Boudreau, Rachel Heath, Tyler H. McCormick
Working conditions in many large factories in low income countries are difficult, and many workers are internal migrants from rural areas. We examine the relationship between workers' migration status and their labor market outcomes, using a household survey of garment workers in Bangladesh. Migrants are in firms with higher wages but worse working conditions, but as their careers progress, they have
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An experimental test of the global-game selection in coordination games with asymmetric players Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-21 Frank Heinemann
In symmetric binary-choice coordination games, the global-game selection (GGS) has been proven to predict a high proportion of observed choices correctly. In these games, the GGS is identical to the best response to Laplacian beliefs about the fraction of players choosing either action. This paper presents an experiment on asymmetric games in which the GGS differs from the best response to Laplacian
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Expectations or rational expectations? A theory of systematic goal deviation Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-18 Benjamin Young
A planner uses goals to manage a preference disagreement over effort provision with a doer. Goals set output expectations for the doer which affect her behavior due to reference-dependent, loss-averse preferences over output. We characterize the planner's optimal goal and explore when it is aspirational versus achievable. Specifically, we show that the optimal goal is achieved by the doer only if the
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Village dominance and learning gaps in rural India Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-18 Neha Bailwal, Sourabh Bikas Paul
In this paper, we show that the village social structure shapes the learning outcome of marginalised children in rural India. Exploiting the variation in the dominant social group in the village, we find a significant impact of village dominance. The reading and arithmetic skills of Scheduled Castes are better in their own castes-dominated villages compared to higher castes-dominated villages. Our
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The effects of sanctions on Russian banks in TARGET2 transactions data Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-18 Constantin Drott, Stefan Goldbach, Volker Nitsch
This paper examines the effect of financial sanctions at the most disaggregated level possible, individual bank accounts. Using data from the Eurosystem's real-time gross settlement system TARGET2, we provide empirical evidence that sanctions imposed by the European Union on Russian banks following Russia's aggression against Ukraine in 2014 and 2022 have sizably reduced financial transactions with
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Collusion, inattentive consumers and shrouded prices Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-11 Tobias Wenzel
We explore the incentives of firms to partition and shroud prices in a model where consumers may ignore a price component. In the static game shrouding can only arise under restrictive conditions if the market is sufficiently concentrated and the shrouded price component is sufficiently high. In the dynamic game we find strong pro-collusive effects of shrouding in that firms can more easily collude
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Mind the framing when studying social preferences in the domain of losses Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-12 Armenak Antinyan, Luca Corazzini, Miloš Fišar, Tommaso Reggiani
There is no consensus in whether monetary losses make individuals more generous or selfish. Utilizing a dictator game (DG), we study the impact of loss framing on altruism and find that dictators’ altruism is sensitive to the loss frame they are embedded in. In a DG in which the dictators share a loss between themselves and a recipient, the monetary allocations are more benevolent than in a setting
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Financial contagion and financial lockdowns Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-13 Gabriele Camera, Alessandro Gioffré
Extreme financial shocks often elicit extraordinary policy interventions that preclude financial activity on a large scale, for example as the 1933 U.S. “bank holiday.” We study these interventions using a random matching framework where the financial contagion process is explicit and the diffusion of the initial shock can be analytically characterized. The study suggests that there is scope for forced
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Female attractiveness engenders honesty among men but dishonesty among women Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-12 Zeev Shtudiner, Erez Siniver, Yossef Tobol, Gideon Yaniv
We investigated the impact of one person's attractiveness on the moral behavior exhibited by others. In our experiment, subjects were invited to perform an inverse version of the die-under-the-cup (DUTC) task that incentivized underreporting of the actual die outcome. Participants provided self-reports after being presented with a facial photograph of a female. Men tended to behave more honestly when
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Examining relative thinking in mixed compensation schemes: A replication study Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-09 Ofer H. Azar, Alisa Voslinsky
Studies show that people exhibit relative thinking: they are affected by relative price differences even when these are irrelevant. The evidence is mostly based on hypothetical-scenario experiments in consumer-behavior contexts. A previous attempt to show relative thinking in the context of mixed compensation schemes (which include a fixed payment and a pay-for-performance payment) failed to document
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Multidimensional homophily Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-04 David Zuckerman
Homophily is typically measured using a single dimension to define groups. However, people generally display friendship preferences over multiple dimensions when forming social connections. We develop a simple model that characterizes agents both by a (discrete) “group type” and a (continuous) “personality trait” value. Agents have preferences-for-similarity over both dimensions, but homophily is only
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The effects of more informative grading on student outcomes Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-04 Matthew Collins, Jonas Lundstedt
More granular grading scales provide a more accurate assessment of achievement and thus provide students with more informative feedback on their performance. Using Swedish administrative data and exploiting a natural experiment, we identify the effects of moving from a system with three passing grades to one with five passing grades. Students receiving more informative grades are less likely to graduate
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Individual evolutionary learning in repeated beauty contest games Journal of Economic Behavior & Organization (IF 2.0) Pub Date : 2024-01-04 Mikhail Anufriev, John Duffy, Valentyn Panchenko
The Individual Evolutionary Learning (IEL) algorithm was proposed as a portable learning model for games with large strategy spaces. In principle, IEL benchmark simulations could substitute or supplement expensive experiments with human subjects. We evaluate the ability of the IEL model to replicate experimental findings observed in repeated Keynesian Beauty Contest (KBC) games, which have a large