Stable Traits but Unstable Measures? Identifying Panel Effects in Self-Reflective Survey Questions
Publication date: Available online 20 February 2019Source: Journal of Economic PsychologyAuthor(s): Bert Van LandeghemAbstractEconomists and psychologists often measure aspects such as utility, preferences, and personality traits through self-assessment modules in longitudinal household surveys. This paper investigates to what extent such measures are subject to a panel effect or panel conditioning, that is, whether people answer the questions differently the more experience they have answering such questions. First, the paper makes a more general contribution to the literature on panel effects and makes explicit identific...
Source: Journal of Economic Psychology - February 21, 2019 Category: Psychiatry & Psychology Source Type: research
Invoking Social Comparison to Improve Performance by Ranking Employees: The Moderating Effects of Public Ranking, Rank Pay, and Individual Risk Attitude
Publication date: Available online 12 February 2019Source: Journal of Economic PsychologyAuthor(s): C. Bram Cadsby, Fei Song, Jim Engle-Warnick, Tony FangAbstractInspired by social-comparison theory, we examine the effectiveness of relative performance ranking as an inherent incentive mechanism to enhance productivity, specifically testing the possibility that the effect is moderated by two features of the feedback design: private/public ranking (whether ranking information was released privately to each individual or announced publicly to all) and fixed/rank pay (whether pay is fixed or positively and monotonically based ...
Source: Journal of Economic Psychology - February 13, 2019 Category: Psychiatry & Psychology Source Type: research
Vernon L. Smith (2018), A Life of Experimental Economics. Vol. I: Forty Years of Discovery (280 pages; ISBN 978-3-319-98403-2 ISBN 978-3-319-98404-9 eBook). Vol. II: The Next Fifty years (253 pages; ISBN 978-3-319-98424-7 ISBN 978-3-319-98425-4 eBook)
Publication date: Available online 12 February 2019Source: Journal of Economic PsychologyAuthor(s): Andreas Ortmann (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - February 13, 2019 Category: Psychiatry & Psychology Source Type: research
Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications, Kiyohiko G. Nishimura and Hiroyuki Ozaki. Springer, Japan (2017). ISBN:978-4-431-55901-6.
Publication date: June 2019Source: Journal of Economic Psychology, Volume 72Author(s): Yasuhiro Sakai (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - February 12, 2019 Category: Psychiatry & Psychology Source Type: research
Optimism, pessimism, mood swings and dishonest behavior
Publication date: Available online 6 February 2019Source: Journal of Economic PsychologyAuthor(s): Erez Siniver, Gideon YanivAbstractThe present paper reports the results of two experimental studies designed to examine the effects of optimism, pessimism, and mood swings on dishonest behavior. In Study 1, optimistic and pessimistic moods were exogenously induced to two classes of economics students who subsequently performed the die-under-the-cup task. Subjects experiencing an optimistic mood were found to exhibit greater dishonesty than those experiencing a pessimistic mood. In Study 2, economics students were asked, befor...
Source: Journal of Economic Psychology - February 7, 2019 Category: Psychiatry & Psychology Source Type: research
Preregistration and reproducibility
Publication date: Available online 6 February 2019Source: Journal of Economic PsychologyAuthor(s): Eirik StrømlandAbstractMany view preregistration as a promising way to improve research credibility. However, scholars have argued that using pre-analysis plans in Experimental Economics has limited benefits. This paper argues that preregistration of studies is likely to improve research credibility. I show that in a setting with selective reporting and low statistical power, effect sizes are highly inflated, and this translates into low reproducibility. Preregistering the original studies could avoid such inflation of effec...
Source: Journal of Economic Psychology - February 7, 2019 Category: Psychiatry & Psychology Source Type: research
Are consumption taxes really disliked more than equivalent costs? Inconclusive results in the USA and no effect in the UK
Publication date: Available online 6 February 2019Source: Journal of Economic PsychologyAuthor(s): Jerome Olsen, Christoph Kogler, Mark J. Brandt, Linda Dezső, Erich KirchlerAbstractIn two experiments on hypothetical purchase decisions, Sussman and Olivola (2011) found that US citizens prefer avoiding tax-related costs over avoiding tax-unrelated monetary costs of the same size. The original Experiment 1 and 2 tests of this Tax Aversion indicated that people are willing to wait longer to receive a discount when it refers to taxes (e.g., “axe-the-tax discount”) than when it is just a regular discount (e.g., “customer...
Source: Journal of Economic Psychology - February 7, 2019 Category: Psychiatry & Psychology Source Type: research
Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications. Kiyohiko G. Nishimura and Hiroyuki Ozaki. Springer Japan
Publication date: Available online 4 February 2019Source: Journal of Economic PsychologyAuthor(s): Yasuhiro Sakai (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - February 5, 2019 Category: Psychiatry & Psychology Source Type: research
Dynamic Norms Drive Sustainable Consumption: Norm-based Nudging Helps Café Customers to Avoid Disposable To-Go-Cups
Publication date: Available online 4 February 2019Source: Journal of Economic PsychologyAuthor(s): David D. Loschelder, Henrik Siepelmeyer, Daniel Fischer, Julian A. RubelAbstractExcess use of disposable to-go-cups constitutes a severe sustainability threat. Behavioral economics and economic psychology suggest various antidotes. In the present paper, we report two studies – a large-scale intervention field study and an experiment – that constitute independent, pre-registered, and open replication attempts of a recently-introduced intervention procedure: dynamic social norms. We tested whether a dynamic norm, along...
Source: Journal of Economic Psychology - February 5, 2019 Category: Psychiatry & Psychology Source Type: research
Editorial Board
Publication date: January 2019Source: Journal of Economic Psychology, Volume 70Author(s): (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - January 31, 2019 Category: Psychiatry & Psychology Source Type: research
Financial Capability and Asset Building in Vulnerable Households: Theory and Practice, Margaret S. Sherraden, Julie Birkenmaier, J.Michael Collins. New York: Oxford University Press (2018). 472 pages
Publication date: Available online 23 January 2019Source: Journal of Economic PsychologyAuthor(s): Sharon Collard (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - January 24, 2019 Category: Psychiatry & Psychology Source Type: research
“When your anchor sinks your boat”: A replication and extension study
Publication date: Available online 3 January 2019Source: Journal of Economic PsychologyAuthor(s): Cheng-Ming Jiang, Jia-Tao MaAbstractMost of the literature on behavioral decision-making suggests the presence of a first-mover advantage in negotiations, and this is based on the anchoring heuristic. Maaravi and Levy (2017) recently demonstrated a second-mover advantage in distributive situations, in which one party has information about the market value while the other does not. Because this finding contradicts most of the previous literature, we replicated their Studies 3 and 4, in which the seller had information about the...
Source: Journal of Economic Psychology - January 16, 2019 Category: Psychiatry & Psychology Source Type: research
Voluntary Contributions of Time: Time-based incentives in a linear public goods game
Publication date: Available online 14 January 2019Source: Journal of Economic PsychologyAuthor(s): Justine JouxtelAbstractThe present paper reports the findings of a study designed to investigate whether the patterns of contribution elicited in a Voluntary Contribution Mechanism (VCM) replicate the stylized facts reported in the literature when participants’ time, rather than their money, is at stake. In this experiment, participants are all confronted to the same incentive structure. For half of them, the game is materialized using monetary payoffs, as is done in standard VCM studies. For the other half, the returns fro...
Source: Journal of Economic Psychology - January 16, 2019 Category: Psychiatry & Psychology Source Type: research
Differentiating Motivational and Cognitive Explanations for Decision Inertia
Publication date: Available online 9 January 2019Source: Journal of Economic PsychologyAuthor(s): Dominik Jung, Edgar Erdfelder, Arndt Bröder, Verena DornerAbstractUnder specific conditions humans tend to repeat previous choices regardless of the outcome. This phenomenon is known as ‘decision inertia’. In most studies of decision inertia, the effect has been linked to motivational factors like consistency-seeking or indecisiveness. We argue that cognitive processes may play an even larger role in explaining why and when decision inertia occurs. Following this rationale, we investigate both motivational and cognitive a...
Source: Journal of Economic Psychology - January 10, 2019 Category: Psychiatry & Psychology Source Type: research
How we misunderstand Economics and why it matters: The psychology of bias, distortion and conspiracy By David Leiser and Yhonatan Shemesh. London: Routledge. 2018
Publication date: Available online 8 January 2019Source: Journal of Economic PsychologyAuthor(s): Esther Greenglass (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - January 9, 2019 Category: Psychiatry & Psychology Source Type: research
