Journal of Economic Psychology最新文献_第5页

Investigations of decision processes at the intersection of psychology and economics 研究心理学和经济学交叉领域的决策过程

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-05-28 DOI: 10.1016/j.joep.2024.102741

Johannes Lohse , Rima-Maria Rahal , Michael Schulte-Mecklenbeck , Andis Sofianos , Conny Wollbrant

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A meta-analysis of loss aversion in risky contexts 风险情况下损失规避的荟萃分析

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-05-16 DOI: 10.1016/j.joep.2024.102740

Lukasz Walasek , Timothy L. Mullett , Neil Stewart

{"title":"A meta-analysis of loss aversion in risky contexts","authors":"Lukasz Walasek , Timothy L. Mullett , Neil Stewart","doi":"10.1016/j.joep.2024.102740","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102740","url":null,"abstract":"<div><p>Loss aversion is widely regarded as the most robust and ubiquitous finding in behavioural economics. According to the loss aversion hypothesis, the subjective value of losses exceeds the subjective value of equivalent gains. One common assumption in the literature is that this asymmetry represents a fundamental and stable feature of people’s preferences. In cumulative prospect theory, loss aversion is captured by the lambda (λ) parameter, which controls the steepness of the value function for losses. Estimates of λ by Tversky and Kahneman (1992) found evidence for considerable overweighting of losses in risky choice (λ = 2.25). But others find very different levels of loss aversion, with some reporting weak loss aversion or even loss neutrality. In order to assess what is the average level of λ reported in the literature, we set out to conduct a <em>meta</em>-analysis of studies in which λ parameter of the cumulative prospect theory was estimated from individual choices between risky prospects. We draw three conclusions. First, surprisingly few studies have estimated λ by fitting the prospect theory to individual choices between mixed gambles, and there are only a few available datasets suitable to perform model fitting. Second, much of the data are of poor quality, making it impossible to obtain precise estimates of the prospect theory’s parameters. Third, using a random-effect <em>meta</em>-analysis upon the available data, we found a small λ of 1.31, 95 % CI [1.10, 1.53].</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"103 ","pages":"Article 102740"},"PeriodicalIF":3.5,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000485/pdfft?md5=229a1076dac0176ec68dc0b13e9ac9dc&pid=1-s2.0-S0167487024000485-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141164481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

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Positive autobiographical memory recall does not influence temporal discounting: An internal meta-analysis of experimental studies 积极的自传体记忆回忆不会影响时间折扣：实验研究的内部荟萃分析

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-04-30 DOI: 10.1016/j.joep.2024.102730

Karolina M. Lempert , Trishala Parthasarathi, Samantha Linhares, Natalia Ruh, Joseph W. Kable

{"title":"Positive autobiographical memory recall does not influence temporal discounting: An internal meta-analysis of experimental studies","authors":"Karolina M. Lempert , Trishala Parthasarathi, Samantha Linhares, Natalia Ruh, Joseph W. Kable","doi":"10.1016/j.joep.2024.102730","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102730","url":null,"abstract":"<div><p>People tend to discount the value of future rewards as the delay to receiving them increases. This phenomenon, known as temporal discounting, may underlie many impulsive behaviors, such as drug abuse and overeating. Given the potential role of temporal discounting in maladaptive behaviors, many efforts have been made to find experimental manipulations that reduce temporal discounting. One class of manipulations that has held some promise involves recalling positive autobiographical memories prior to making intertemporal choices. Just as imagining positive future events has been shown to reduce temporal discounting, a few studies have shown that recalling positive past events reduces temporal discounting, especially if memory retrieval evokes positive affective states, such as gratitude and nostalgia. However, we failed to replicate these findings. Here we present an internal meta-analysis combining data from 14 studies (<em>n</em> = 758) that involved within-subjects positive memory recall-based manipulations. In each study, temporal discounting was assessed using a monetary intertemporal choice task. The average effect size was not significantly different from zero. This finding helps elucidate the neurocognitive mechanisms of temporal discounting; whereas engaging the episodic memory system to imagine <em>future</em> events might promote more patience, engaging the episodic memory system to imagine <em>past</em> events does not.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"103 ","pages":"Article 102730"},"PeriodicalIF":3.5,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140824818","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}

引用次数: 0

Replication: Erat and Gneezy’s white lies paradigm 复制：埃拉特和格尼兹的白色谎言范式

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-04-12 DOI: 10.1016/j.joep.2024.102704

J. Jobu Babin , Haritima S. Chauhan

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Focal points for giving 捐赠重点

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-03-28 DOI: 10.1016/j.joep.2024.102729

Jeffrey Cross , Guangli Zhang

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Fostering trust: When the rhetoric of sharing can backfire 培养信任：当分享的花言巧语适得其反时

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-03-16 DOI: 10.1016/j.joep.2024.102728

Simona Cicognani , Giorgia Romagnoli , Ivan Soraperra

{"title":"Fostering trust: When the rhetoric of sharing can backfire","authors":"Simona Cicognani , Giorgia Romagnoli , Ivan Soraperra","doi":"10.1016/j.joep.2024.102728","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102728","url":null,"abstract":"<div><p>The peer-to-peer lending and transfer of underutilized resources – the so-called Sharing Economy – make up for a sizeable and rapidly increasing portion of the economy. The digital platforms that enable it have the primary goal of promoting trust among users and providers. In an online experiment, we study how the platform’s revenue model (<em>No-profit</em> vs. <em>For-profit</em>) interacts with its communication strategy in shaping trust. In particular, we consider two communication strategies, one highlighting the trust dimension and the other highlighting the interaction’s profitability. We show how these strategies can affect trust differently for pure-sharing and market-oriented for-profit platforms. We observe that a communication strategy that evokes trust feelings, if sent by a for-profit platform, decreases trust in the interaction. This evidence suggests that leveraging a rhetoric of trust can backfire for profit-oriented platforms in terms of trust generation.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102728"},"PeriodicalIF":3.5,"publicationDate":"2024-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000369/pdfft?md5=a788d73a0677085c2445892984da3e9b&pid=1-s2.0-S0167487024000369-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140162367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Beware the performance of an algorithm before relying on it: Evidence from a stock price forecasting experiment 在依赖算法之前，要小心其性能：股票价格预测实验的证据

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-03-15 DOI: 10.1016/j.joep.2024.102727

Tiffany Tsz Kwan Tse , Nobuyuki Hanaki , Bolin Mao

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Cheap signaling of altruism 廉价的利他主义信号

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-03-06 DOI: 10.1016/j.joep.2024.102726

Moritz Janas , Michelle Jordan

{"title":"Cheap signaling of altruism","authors":"Moritz Janas , Michelle Jordan","doi":"10.1016/j.joep.2024.102726","DOIUrl":"10.1016/j.joep.2024.102726","url":null,"abstract":"<div><p>Decisions on whether to engage in a pro-social act can separate altruistic from non-altruistic individuals. We explore the role of the probability that the pro-social action has to be carried out after publicly deciding in favor of it. In such a signaling environment, a lower probability that the act has to be carried out <em>cheapens</em> the signal. We use a model to predict how this cheapness influences decision-making behavior and the updating of beliefs about the decision-maker’s level of altruism. In a laboratory experiment, we test the model’s predictions by varying the probability that the pro-social decision has to be carried out and the strength of image concerns. If the image concern is non-monetary, the experimental data reveals that, in line with the model’s predictions, the share of pro-social decisions increases in the case of cheaper signals. The prediction that the effect of the cheapness increases with image concerns cannot be confirmed by the data. Belief-updating is a crucial element of modeling pro-social decision-making in signaling environments, as it provides the trade-off between costs and image benefits. However, the experimental data does not show significant belief-updating differences depending on the cheapness of the signal after observing a pro-social decision.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102726"},"PeriodicalIF":3.5,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140056908","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}

引用次数: 0

An empirical study of sequential offer bargaining during the Festival of Sacrifice 祭祀节期间连续报价讨价还价的实证研究

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-03-01 DOI: 10.1016/j.joep.2024.102707

Burak Dindaroglu , Seda Ertac

{"title":"An empirical study of sequential offer bargaining during the Festival of Sacrifice","authors":"Burak Dindaroglu , Seda Ertac","doi":"10.1016/j.joep.2024.102707","DOIUrl":"10.1016/j.joep.2024.102707","url":null,"abstract":"<div><p>We report results from a unique data set of real-life bargaining transactions collected from the market for livestock (sheep) before the Festival of Sacrifice (Eid al-Adha) in Izmir, Turkey. This market is characterized by frequent and aggressive bargaining, which occurs in the form of sequential price offers. We record bargaining transactions as they occur, and collect detailed information on the bargaining environment, as well as on the characteristics of buyers and sellers. We also elicit each seller’s outside option by means of an incentive compatible mechanism and obtain a reported maximum willingness to pay from buyers. We particularly focus on aspects of the bargaining process, such as non-price communication. In different types of empirical analysis, results robustly indicate that the presence and content of communication matters, for the likelihood of a sale as well as concessions made. Specifically, buyer-side communication is associated with larger concessions from the seller and a higher probability of sale. The presence of a mediator during the negotiation is associated with a higher probability of sale as well, while it has no effect on prices. We also provide results on the relative importance of groups of variables for predicting bargaining outcomes, which can provide directions for further research in bargaining.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"101 ","pages":"Article 102707"},"PeriodicalIF":3.5,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139813222","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}

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Between money and speculative asset: The role of financial literacy on the perception towards Bitcoin in Italy 介于货币与投机资产之间：金融知识对意大利人对比特币看法的影响

IF 3.5 2区经济学

Journal of Economic Psychology Pub Date : 2024-02-29 DOI: 10.1016/j.joep.2024.102716

Alessandro Cascavilla

{"title":"Between money and speculative asset: The role of financial literacy on the perception towards Bitcoin in Italy","authors":"Alessandro Cascavilla","doi":"10.1016/j.joep.2024.102716","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102716","url":null,"abstract":"<div><p>With Bitcoin at the forefront, cryptocurrencies are gaining traction as an alternative asset investment, particularly among young investors. Although most of the empirical evidence has shown that it could not be defined as a currency, some Bitcoin users argue the opposite. This paper analyzes the factors influencing the perception of Bitcoin, i.e., whether it is a currency or an asset, with a focus on financial literacy among a subject pool of university students in Italy. The results show that, after controlling for several individual characteristics such as behavioral biases, personal attitudes, psychological traits, and socio-demographic information, this cryptocurrency is considered more than just an asset, and thus it could replace currency, among subjects with lower financial literacy, higher knowledge of Bitcoin, and those who do not trust the banking system. In contrast, Bitcoin is considered a speculative asset among those individuals with higher financial literacy. In line with the recent evidence that cryptocurrencies are mostly owned by young investors, results indicate the importance of increasing the level of financial education among them.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102716"},"PeriodicalIF":3.5,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140014560","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}

引用次数: 0