Discussion Paper No. 322
March 23, 2022
Microfinance Loan Officers Before and During Covid-19: Evidence from India
Authors:
Czura, Kristina (University of Groningen)Englmaier, Florian (LMU Munich)
Ho, Hoa (LMU Munich)
Spantig, Lisa (RWTH Aachen University and University of Essex)
Abstract:
Keywords:
microfinance; loan officers; covid-19; work organization; IndiaJEL-Classification:
J22; M54; G21Download:
Open PDF fileDiscussion Paper No. 320
February 24, 2022
Social Media and Mental Health
Authors:
Braghieri, Luca (LMU Munich)Levy, Ro'ee (MIT)
Makanin, Alexey (EIEF and CEPR)
Abstract:
JEL-Classification:
D12; D72; D90; I10; L82; L86Download:
Open PDF fileDiscussion Paper No. 306
December 1, 2021
Self-Persuasion: Evidence from Field Experiments at International Debating Competitions
Authors:
Schwardmann, Peter (Carnegie Mellon University)Tripodi, Egon (University of Essex and JILAEE)
van der Weele, Joël J. (University of Amsterdam and Tinbergen Institute)
Abstract:
Keywords:
JEL-Classification:
C93; D72; D83; D91Download:
Open PDF fileDiscussion Paper No. 305
December 1, 2021
Cursed Consumers and the Effectiveness of Consumer Protection Policies
Authors:
Ispano, Alessandro (CY Cergy Paris Université, CNRS and THEMA)Schwardmann, Peter (LMU Munich)
Abstract:
Keywords:
naive; cursed; disclosure; consumer protection; labeling; competitionJEL-Classification:
C72; D03; D82; D83Download:
Open PDF fileDiscussion Paper No. 304
December 1, 2021
Spin Doctors: An Experiment on Vague Disclosure
Authors:
Deversi, Marvin (LMU Munich)Ispano, Alessandro (CY Cergy Paris Université, CNRS and THEMA)
Schwardmann, Peter (LMU Munich)
Abstract:
Keywords:
communication; naïveté; flexibility; regulationJEL-Classification:
D82; D83; C72; C92; L15; D04Download:
Open PDF fileDiscussion Paper No. 288
October 18, 2021
Decomposing the Disposition Effect
Authors:
Maier, Johannes K. (LMU Munich and CESifo)Fischer, Dominik S. (CRA)
Abstract:
Keywords:
disposition effect; rational benchmark; investor behavior; behavioral biases; market segments; financial attention; information levelJEL-Classification:
D90; D91; D83; D84; G11; G40; G41Download:
Open PDF fileDiscussion Paper No. 275
January 26, 2021
Meta-Analysis of Empirical Estimates of Loss-Aversion
Author:
Brown, Alexander L. (Texas A&M University)
Imai, Taisuke (LMU Munich)
Vieider, Ferdinand M. (Ghent University)
Camerer, Colin F. (California Institute of Technology)
Abstract:
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported during the past couple of decades. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is between 1.8 and 2.1. We also document how reported estimates vary depending on the observable characteristics of the study design.
Keywords:
loss aversion; prospect theory; meta-analysis
JEL-Classification:
D81; D90; C90; C11
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Discussion Paper No. 272
January 19, 2021
Prices versus Quantities with Morally Concerned Consumers
Author:
Schmidt, Klaus M. (LMU Munich)
Herweg, Fabian (University of Bayreuth)
Abstract:
It is widely believed that an environmental tax (price regulation) and cap-and-trade (quantity regulation) are equally efficient in controlling pollution when there is no uncertainty. We show that this is not the case if some consumers (firms, local governments) are morally concerned about pollution and the pollution price is inefficiently low for political reasons. Emissions are lower and material welfare is higher with price regulation. Furthermore, quantity regulation gives rise to dysfunctional incentive and distribution effects. It shifts the burden of adjustment to the poor and discourages voluntary efforts to reduce pollution, while price regulation makes these efforts effective.
Keywords:
emissions trading; carbon tax; climate change; prices versus quantities; behavioral industrial organization
JEL-Classification:
D62; H23; Q52; Q58
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Discussion Paper No. 271
January 19, 2021
Paying for Open Access
Author:
Stich, Lucas (LMU Munich)
Spann, Martin (LMU Munich)
Schmidt, Klaus M. (LMU Munich)
Abstract:
Open access (OA) publishing upends the traditional business model in scientific publishing by requiring authors instead of readers to pay for the publishing-related costs. In this paper, we aim to elicit the willingness to pay (WTP) of authors for open access publishing. We conduct two separate field studies with different methodological approaches in different scientific disciplines (economics and medicine). First, a choice-based conjoint (CBC) analysis measures stated preferences of 243 economists in Germany, Austria, and Switzerland regarding their valuations of open access publishing in the “Top 5” economics journals. Second, a field experiment at four different open access medical journals elicits authors’ self-determined (“Pay-What-You-Want”) payments for open access publications. The results provide a plausible range of authors’ valuations, given that the first study rather provides an upper bound and the second study a lower bound of authors’ willingness to pay for open access publishing.
Keywords:
open access; willingness to pay; choice-based conjoint analysis; pay-what-you-want; field experiment
JEL-Classification:
D12; M31; L11; L82
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Discussion Paper No. 270
January 19, 2021
Das Design von Klimaschutzverhandlungen
Author:
Schmidt, Klaus M. (LMU Munich)
Abstract:
In seiner Thünen-Vorlesung vor dem Verein für Socialpolitik im Herbst 2020 hat Klaus Schmidt das Design von Klimaschutzverhandlungen untersucht. Er geht dabei von einem Vorschlag Martin Weitzmans aus, künftige Verhandlungen auf einen einheitlichen CO2-Mindestpreis zu fokussieren. Wäre ein solches Vorgehen demjenigen, wie es in den Abkommen von Paris und Kyoto praktiziert wurde, tatsächlich überlegen? Schmidt berichtet von zwei experimentellen Studien, in denen er gemeinsam mit Koautoren Licht auf diese Frage geworfen hat. Die Ergebnisse beider Studien unterstützen den Vorschlag von Weitzman.
Keywords:
Klimaschutzverhandlungen; Verhandlungsdesign; Reziprozität; CO2-Preis
JEL-Classification:
C81; C93; F51; H87; Q54