On the priming of risk preferences: The role of fear and general affect
We report a systematic attempt to test the reproducibility and generalisability of priming effects on risk attitudes in a more diverse population than professionals and students, when priming using either a positive or a negative experience. We further test fear as the causal mechanism underlying countercyclical risk aversion. Across a series of experiments with a total sample of over 1900 participants, we are unable to find any systematic effect of priming on risk preferences. Moreover, our results challenge the role of fear as the mechanism underlying countercyclical risk aversion; we find evidence of an impact of genera...
Source: Journal of Economic Psychology - January 5, 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 4, 2019 Category: Psychiatry & Psychology Source Type: research
The impact of psychological traits on performance in sequential tournaments: Evidence from a tennis field experiment
Publication date: Available online 27 December 2018Source: Journal of Economic PsychologyAuthor(s): Christoph Bühren, Philip J. SteinbergAbstractExtant research has analyzed the impact of player position (first- versus second-mover) on individual performance in sequential tournaments. However, it remains unclear whether the first- or second-mover experiences an advantage in such tournaments. We argue that prior literature has ignored heterogeneity of psychological traits and incentive schemes. We conducted a tennis field experiment using the ABBA sequence, in which we do not find a first- or second-mover advantage on game...
Source: Journal of Economic Psychology - December 27, 2018 Category: Psychiatry & Psychology Source Type: research
Does life satisfaction predict reemployment? Evidence form German panel data
Publication date: Available online 24 December 2018Source: Journal of Economic PsychologyAuthor(s): Damaris Rose, Olga StavrovaAbstractWhile life satisfaction has been identified as an important predictor of occupational success, the question of whether it might contribute to reemployment success among unemployed individuals has received much less research attention. Contrasting three theoretical perspectives (motivation theories, positive psychology, and the optimum level of well-being literature), we explored whether life satisfaction has a negative, a positive, or a non-monotonic effect on the likelihood of reemployment...
Source: Journal of Economic Psychology - December 25, 2018 Category: Psychiatry & Psychology Source Type: research
Overearning – Revisited
Publication date: Available online 21 December 2018Source: Journal of Economic PsychologyAuthor(s): Nadine Riedel, Robert StüberAbstractIn a 2013 Psychological Science article, Hsee et. al designed a controlled laboratory experiment to assess whether individuals overearn, i.e., forgo leisure to work and earn beyond their consumption needs. The authors reported evidence in line with people overearning, even at the cost of happiness, and in line with mindless accumulation being the driver of this finding. In a large-scale replication and extension of Hsee et al. (2013), we cannot confirm the original paper’s findings: Our...
Source: Journal of Economic Psychology - December 21, 2018 Category: Psychiatry & Psychology Source Type: research
Mental accounting of income tax and value added tax among self-employed business owners
This study used a questionnaire to investigate whether self-employed taxpayers (N = 350) use mental accounting to manage their income tax and VAT obligations, whether mental accounting relates to tax knowledge, business and personality characteristics, and to what extent mental accounting is related to intended tax behavior. Our results reveal that some taxpayers mentally segregate taxes from turnover (segregators) while others do not (integrators). We found small differences in mental accounting between income taxes and VAT. Moreover, confirmatory factor analyses suggested that tax knowledge and mental accounting are dist...
Source: Journal of Economic Psychology - December 18, 2018 Category: Psychiatry & Psychology Source Type: research
Outcome Bias in Subjective Ratings of Performance: Evidence from the (Football) Field
Publication date: Available online 12 December 2018Source: Journal of Economic PsychologyAuthor(s): Edgar E. Kausel, Santiago Ventura, Arturo RodríguezAbstractThe outcome bias occurs when people assess others’ decision making process or performance and put an unwarranted weight to their outcomes. This bias has important implications for the judgment and choice as well as the performance appraisal literatures.However, virtually every extant study has been conducted in the lab, likely due to endogeneity concerns in field. Penalty shoot-outs in association football (‘soccer’) offer an interesting way of studying outcom...
Source: Journal of Economic Psychology - December 13, 2018 Category: Psychiatry & Psychology Source Type: research
Editorial “Uncovering Dishonesty”
Publication date: Available online 8 December 2018Source: Journal of Economic PsychologyAuthor(s): Marco Piovesan, Ingo Zettler (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - December 9, 2018 Category: Psychiatry & Psychology Source Type: research
CLIMBING OUT OF AN economic crisis: A CYCLE OF consumer sentiment and personal stress
Publication date: Available online 6 December 2018Source: Journal of Economic PsychologyAuthor(s): Roxanne I van Giesen, Rik PietersAbstractThis research examines bidirectional relationships between consumer sentiment and personal stress. It seeks to answer the question whether reduced consumer sentiment (consumer perceptions about the global, national and personal economic situation) raises personal stress levels, and whether increased personal stress levels depresses consumer sentiment. Finding such relationships would reveal a pathway from economic to personal well-being, as reflected in personal stress, and the other w...
Source: Journal of Economic Psychology - December 7, 2018 Category: Psychiatry & Psychology Source Type: research
There and Back Again: Adaptation after Repeated Rule Changes of the Game
Publication date: Available online 5 December 2018Source: Journal of Economic PsychologyAuthor(s): Ho Fai Chan, David A. Savage, Benno TorglerAbstractRule changes have offered a natural experimental setting in the sports environment and beyond for many years. However, an understanding of human behavioural adaptation processes after repeated rule changes is missing from the extant literature. The NBA offers a unique setting in which the three-point line was moved (shortened) for a period of three seasons (1994-95 to 1996-97) and then returned (lengthened) to its original position (pre 1994-95). We are therefore not only abl...
Source: Journal of Economic Psychology - December 6, 2018 Category: Psychiatry & Psychology Source Type: research
Task difficulty and overconfidence. Evidence from distance running
Publication date: Available online 4 December 2018Source: Journal of Economic PsychologyAuthor(s): Michał Krawczyk, Maciej WilamowskiAbstractIn this project we investigate the impact of task difficulty on overestimation, using data from over 1.6 million amateur distance runners. Overestimation is measured in terms of relative error in forecasted finishing time as well as relative slowing down in the latter half of the course. Longer (esp. the marathon compared to 10km) and slower races are understood to be more difficult than shorter and faster races. Likewise, comparatively slow runners are assumed to be facing a relativ...
Source: Journal of Economic Psychology - December 4, 2018 Category: Psychiatry & Psychology Source Type: research
An exercise in self-replication: Replicating Shah, Mullainathan, and Shafir (2012)
We describe which results appear more robust and which results appear to be less robust. We conclude with some thoughts on the value of self-replications. (Source: Journal of Economic Psychology)
Source: Journal of Economic Psychology - December 3, 2018 Category: Psychiatry & Psychology Source Type: research
Does a “Comeback” Create Momentum in Overtime? Analysis of NBA Tied Games
Publication date: Available online 30 November 2018Source: Journal of Economic PsychologyAuthor(s): Elia Morgulev, Ofer H. Azar, Michael Bar-EliAbstractDespite the prevalence of the momentum concept, the literature is still divided on whether psychological momentum actually exists. We aimed to detect psychological momentum in the specific setting of overtime in basketball games. We collected data from 11 NBA seasons and identified all games that were tied after the end of regulation time. Comeback during basketball games is perceived to be a catalyst for momentum. In contradiction to such common beliefs, we found that team...
Source: Journal of Economic Psychology - December 1, 2018 Category: Psychiatry & Psychology Source Type: research
The effects of facial attractiveness and trustworthiness in online peer-to-peer markets
Publication date: Available online 22 November 2018Source: Journal of Economic PsychologyAuthor(s): Bastian Jaeger, Willem W.A. Sleegers, Anthony M. Evans, Mariëlle Stel, Ilja van BeestAbstractOnline peer-to-peer markets, such as Airbnb, often include profile photos of sellers to reduce anonymity. Ert and colleagues (2016) found that more trustworthy-looking, but not more attractive-looking, Airbnb hosts from Stockholm charge higher prices for similar apartments. This suggests that people are willing to pay more for a night in an apartment if the host looks trustworthy. Here, we present a pre-registered replication testin...
Source: Journal of Economic Psychology - November 22, 2018 Category: Psychiatry & Psychology Source Type: research
The Role of Morals in Three-Player Ultimatum Games
Publication date: Available online 19 November 2018Source: Journal of Economic PsychologyAuthor(s): Sandro Casal, Francesco Fallucchi, Simone QuerciaAbstractWe experimentally investigate the role of moral concerns in three-player ultimatum bargaining. In our experimental paradigm, proposers can increase the overall size of the pie at the expenses of an NGO that conducts humanitarian aid in emergency areas. In a first study, we find that responders are not willing to engage in ‘immoral’ transactions only when fully informed about proposers’ behavior toward the NGO. Under complete information, their willingness to reje...
Source: Journal of Economic Psychology - November 21, 2018 Category: Psychiatry & Psychology Source Type: research
