Christoph Bühren , Astrid Dannenberg , Elina Wiederhold
{"title":"Would you lie for me? Lying behavior in a principal-agent relationship","authors":"Christoph Bühren , Astrid Dannenberg , Elina Wiederhold","doi":"10.1016/j.joep.2025.102869","DOIUrl":"10.1016/j.joep.2025.102869","url":null,"abstract":"<div><div>People do not always lie for personal gain; sometimes, they lie to benefit others whom they are economically dependent on. We investigate this phenomenon in an online experiment with 1,200 Prolific participants, using a principal-agent framework. Principals design contracts that reward agents based on their reporting behavior, while agents have the opportunity to overreport in order to increase the principal’s payout. We implement three experimental treatments that vary whether agents are informed about the potential reward for overreporting or prompted to consider it before making their decision. Our findings show that most principals choose either a generous contract that is independent of the agent’s reporting behavior or a contract that rewards overreporting. While agents are generally reluctant to lie, their willingness to lie increases when the benefits of doing so are made salient or when they are forced to think about them. These results highlight how psychological framing of incentives can influence ethical behavior in economic relationships.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102869"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145749157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Intuitive prosociality: heterogeneous treatment effects or false positive?","authors":"Amanda Kvarven , Eirik Strømland , Gaute Torsvik","doi":"10.1016/j.joep.2025.102873","DOIUrl":"10.1016/j.joep.2025.102873","url":null,"abstract":"<div><div>This paper uses a randomized experiment on a representative sample from the Norwegian population (N = 1368) to test whether prosocial behavior is intuitive. We use time pressure to capture intuitive decision making and a dictator game to measure prosocial behavior. We also estimate and test for “population heterogeneity” in the effect size. First, we exogenously vary subject experience with economic games to test whether experience influences the treatment effect. Second, we leverage our data structure to conduct a “pseudo meta-analysis,” assessing effect size heterogeneity across several potential sources of heterogeneity. This helps us assess whether prior findings in the literature stem from false positives or genuine heterogeneity in effect sizes. Our results show no evidence that experience with economic experiments moderates the time pressure effect. The estimated heterogeneity in effect sizes in the pseudo meta-analysis is negligible. Further, we cannot reject the null hypothesis of a uniform p-value distribution, and our rejection rate aligns with the expected 5 % from chance alone. These findings support the view that the apparent link between prosocial behavior and intuitive processing is likely due to false positives rather than heterogeneous treatment effects.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102873"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145798496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Scarcity mindset as a predictor of cryptocurrency investments","authors":"George Rooney, Cäzilia Loibl","doi":"10.1016/j.joep.2025.102867","DOIUrl":"10.1016/j.joep.2025.102867","url":null,"abstract":"<div><div>The often lottery-like, speculative process of investing in cryptocurrency may be particularly interesting to investors with a scarcity mindset because the prospect of large gains can be attractive when financial resources are considered to be inadequate to satisfy needs or wants. Data from the National Financial Capability Study for 2021 (n = 2,364) and 2018 (n = 1634) confirm a direct and positive association between a scarcity mindset and cryptocurrency investing when established predictors of investment behavior are controlled. The role of scarcity mindset also holds for other risky investments. The study extends the understanding of behavioral mechanisms that explain risky financial decisions.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102867"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145750261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Johann M. Majer , John-Oliver Engler , Emma Saxena , Andreas Mojzisch
{"title":"Conflict frames in the wild: win-lose frames are more common, but mixed and win-win frames are more effective","authors":"Johann M. Majer , John-Oliver Engler , Emma Saxena , Andreas Mojzisch","doi":"10.1016/j.joep.2025.102868","DOIUrl":"10.1016/j.joep.2025.102868","url":null,"abstract":"<div><div>In controlled studies, conflicts are often interpreted as win-lose situations. Yet, it remains unclear whether this tendency extends to real-world conflicts. To address this question, we examine two competing perspectives on conflict frame prevalence: one assuming that win-lose frames dominate in real-world conflicts and another suggesting that win-win frames are more common. Drawing on conflict resolution and coalition bargaining theory, we test the hypothesis that win-win frames are more effective than win-lose frames in influencing both interdependent counterparts and independent third parties. Results of two archival studies using political participation data reveal that win-lose frames were more frequent in real-world conflicts than win-win frames. However, while win-lose frames were the most common, mixed frames proved to be the most effective in influencing interdependent counterparts. Additionally, both win-win and mixed frames had the strongest impact on independent third parties. Our findings highlight a fundamental gap between how people typically interpret conflict and how effectively conflict frames influence others.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102868"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145659082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Outcome bias in managerial decisions","authors":"Jan C. van Ours","doi":"10.1016/j.joep.2025.102872","DOIUrl":"10.1016/j.joep.2025.102872","url":null,"abstract":"<div><div>Decisions informed by past events can be distorted when outcomes partially determined by chance are misinterpreted as being purely skill-based. This can lead to outcome bias, where decisions are evaluated based on results rather than on the quality of the performance that produced them. Outcome bias is prevalent across various domains, including managerial decision-making. This paper investigates outcome bias in professional football, a highly competitive industry. The analysis focuses on managers who were replaced mid-season between 2017/18 and 2024/25 in the top divisions of the five major European football leagues. The main finding is that clubs tend to change managers in response to recent match results rather than to underlying performance indicators. This behavior reflects an economically inefficient decision-making process driven by outcome bias.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102872"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145750260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"It’s not my money: How windfall income enhances donation","authors":"Ling Kuai , Haiying Wei","doi":"10.1016/j.joep.2025.102871","DOIUrl":"10.1016/j.joep.2025.102871","url":null,"abstract":"<div><div>Many individuals tend to donate to charitable organizations after receiving windfall income. However, few empirical studies have focused on the potential links between windfall and donation. This study investigates the impact of the unexpectedness of income on donation. Across two experiments, we demonstrate that, compared to expected income, people are more inclined to donate after receiving windfall income. This effect is serially mediated by psychological ownership and the perceived pain of donation. We explore the moderating effect of the donation payment method and find that the positive effect of windfall income on donations only exists in lump sum donations. This research indicates the relationship between income and donation and offers practical implications to the donation strategies of charitable organizations.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102871"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145750262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Noémi Berlin , Emmanuel Kemel , Vincent Lenglin , Antoine Nebout
{"title":"Paying none, some or all? Between-subject random incentives and preferences towards risk and time","authors":"Noémi Berlin , Emmanuel Kemel , Vincent Lenglin , Antoine Nebout","doi":"10.1016/j.joep.2025.102870","DOIUrl":"10.1016/j.joep.2025.102870","url":null,"abstract":"<div><div>In the context of risk and time preferences, the within-subject random incentive system (Within-RIS) is the standard real-incentive mechanism in economic experiments: each subject has one choice randomly selected for payment. In a variation, Within-RIS is applied to a fraction of subjects only: each subject has a probability <span><math><mi>π</mi></math></span> of being selected and has one choice randomly selected for payment. This paper assesses the validity of this mechanism called the hybrid random incentive system (Hybrid-RIS) by investigating if/how the selection probability affects elicited risk and time preferences. We report an experiment conducted with 335 subjects across four treatments, varying the selection probability to 0, 0.1, 0.5, and 1. Using raw data statistics and structural estimations of preference parameters, we find that elicited time preferences remain stable, while risk aversion is lower when the selection probability is null. However, there are no significant differences among the non-null selection probabilities. These findings suggest that Hybrid-RIS does not distort elicited risk and time preferences.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"112 ","pages":"Article 102870"},"PeriodicalIF":2.3,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145694783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Investigating the empirical validity of salience theory: The role of display format effects","authors":"Christoph Ostermair","doi":"10.1016/j.joep.2025.102844","DOIUrl":"10.1016/j.joep.2025.102844","url":null,"abstract":"<div><div>The salience theory of choice under risk predicts that the correlation between lotteries will affect subjects’ preferences. We conduct two online experiments to challenge this perception. In our first experiment, we show that recent prominent experimental findings in support of salience-predicted correlation effects were driven by changes in the display format rather than the salience of payoffs: (i) salience effects vanish when controlling for simultaneous changes in the display format when varying the correlation structure; (ii) choice patterns previously attributed to the salience mechanism can be induced by keeping the correlation structure constant and simply varying the display format. In our second experiment, we find that, in a contest between display format and salience effects, the former are quantitatively more important than the latter. In a setup allowing the investigation of correlation effects in the absence of confounding changes in the display format, we are unable to detect significant salience-predicted correlation effects.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"111 ","pages":"Article 102844"},"PeriodicalIF":2.3,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145027801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Transcranial stimulation over the right temporoparietal junction decreases outcome bias","authors":"Jianbiao Li, Zenghui Liu, Xiaofei Niu","doi":"10.1016/j.joep.2025.102856","DOIUrl":"10.1016/j.joep.2025.102856","url":null,"abstract":"<div><div>Outcome bias is the phenomenon that people often evaluate a decision more favorably if it leads to a good outcome than if it leads to a bad outcome. Although outcome bias is ubiquitous in decision evaluation, its neural mechanism remain unknown. We use transcranial direct current stimulation (tDCS) to stimulate the right temporoparietal junction (rTPJ), a cortical region associated with intention inference, to investigate the role of the rTPJ in outcome bias. We find that anodal stimulation over the rTPJ reduces outcome bias, regardless of whether the evaluators are independent third parties or non-independent second parties. This anodal stimulation effect is driven by making participants more concerned about decision intentions. Our findings provide the causal evidence for the role of the rTPJ in outcome bias and thus shed light on the neural mechanism underlying outcome bias.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"111 ","pages":"Article 102856"},"PeriodicalIF":2.3,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145416535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sergio Pirla , Daniel Navarro-Martinez , Stefan Pfattheicher , Jordi Quoidbach
{"title":"Income and boredom: Evidence from 30 countries","authors":"Sergio Pirla , Daniel Navarro-Martinez , Stefan Pfattheicher , Jordi Quoidbach","doi":"10.1016/j.joep.2025.102847","DOIUrl":"10.1016/j.joep.2025.102847","url":null,"abstract":"<div><div>For decades, researchers, governments, and policymakers have sought to understand how financial scarcity affects people’s well-being and quality of life. In this paper, we show that past studies have overlooked a fundamental psychological aspect of being poor: boredom. Using data from over 60,000 individuals across 30 countries, we find a robust negative association between income and daily experiences of boredom. In fact, compared with high-income earners, low-income individuals not only feel bored more often, but their experience of boredom is more closely linked to other negative states such as loneliness, worry, and anxiety. While the relationship between income and boredom does not differ between white- and blue-collar occupations, it is significantly stronger among individuals whose primary source of income consists of social transfers, such as unemployment benefits or pensions. Our results pave the way for future research and policies that take boredom into account and address the full extent of the psychological tax exerted by financial hardship.</div></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"111 ","pages":"Article 102847"},"PeriodicalIF":2.3,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145027802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}