{"title":"Competition, confidence and gender: Shifting the focus from the overconfident to the realistic","authors":"Tünde Lénárd , Dániel Horn , Hubert János Kiss","doi":"10.1016/j.joep.2024.102746","DOIUrl":"10.1016/j.joep.2024.102746","url":null,"abstract":"<div><p>The gender gap in competitiveness is argued to explain gender differences in later life outcomes, including career choices and the gender wage gap. In experimental settings, a prevalent explanation attributes this gap to males being more (over)confident than females (we call this the compositional channel). While our lab-in-the-field study using data from students in 53 classrooms (<span><math><mi>N</mi></math></span> <span><math><mo>></mo></math></span> 1000) reproduces this finding, it also uncovers a second, potentially more impactful channel of confidence contributing to the gender gap in competitiveness (the preference channel). To disentangle the two channels, we propose a more precise measure of confidence based on whether the subjects’ believed performance rank exceeds, coincides with or falls short of their actual performance in a real-effort task. We label categories of this Guessed - Actual Performance (GAP) difference as overconfident, realistic or underconfident, respectively. Surprisingly, there is no gender difference in competitiveness within the over- and underconfident subgroups, while a significant gender gap exists among the realistic. So, even if both genders had the same level of confidence, a persistent gender gap in preference (or taste) for competition would remain in the realistic group. This finding is robust across all specifications, challenging previous theories about the overconfidence of men being the main driver of the relationship between confidence and the gender gap in competition.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"104 ","pages":"Article 102746"},"PeriodicalIF":2.5,"publicationDate":"2024-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000540/pdfft?md5=e381b9a73681465938b0bb60e4b00bc4&pid=1-s2.0-S0167487024000540-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141963504","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}
{"title":"Feelings and alcohol consumption","authors":"Efi Vasileiou , Lara Agnoli , Steve Charters , Nikolaos Georgantzis","doi":"10.1016/j.joep.2024.102745","DOIUrl":"10.1016/j.joep.2024.102745","url":null,"abstract":"<div><p>Consumption choices depend on the feelings experienced in the period preceding a consumer's decisions. We confirm this hypothesis using a large sample of Italian consumers collected by ISTAT (the Italian National Statistics Institute) as part of the multi-purpose survey “<em>Indagine multiscopo sulle famiglie: Aspetti della vita quotidiana</em>” (n = 114,052). Specifically, positive feelings are associated with wine and beer consumption, while negative feelings relate to spirits consumption. The latter pattern is common among men and women, whereas the former is only applicable to male consumers. Additionally, older consumers drink more following a period of positive feelings, whereas younger consumers drink less. Our two-level modelling strategy confirms the mediating role of personal characteristics in explaining the relation between feelings and alcohol consumption.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"104 ","pages":"Article 102745"},"PeriodicalIF":2.5,"publicationDate":"2024-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000539/pdfft?md5=9429b455003a11bebaf3d6bde9149292&pid=1-s2.0-S0167487024000539-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141842163","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}
Christine Austermann, Korbinian von Blanckenburg, Anja Iseke, Eva Tebbe
{"title":"Stereotypical behavior vs. expectations: Gender differences in a dictator game","authors":"Christine Austermann, Korbinian von Blanckenburg, Anja Iseke, Eva Tebbe","doi":"10.1016/j.joep.2024.102742","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102742","url":null,"abstract":"<div><p>In general gender differences have frequently been studied in experimental economics, but the findings remain inconclusive. In this study, we focus on gender differences in expectations and gender specific stereotypic mindsets in a dictator game, building on Blanckenburg, Tebbe, & Iseke (2023). We add to prior work by differentiating between stereotypical behavior and stereotypical expectations. Accordingly, we extended the classic dictator game by three steps in order to study whether recipients develop stereotypical beliefs regarding the dictator’s gender based on the amount of money the dictator has allocated to them. First, we asked recipients to estimate the amount. We then revealed the amount the dictator actually allocated to the recipient and finally, we asked the recipient to assess the dictator’s gender. In contrast to and building on previous results which show no gender differences regarding the amount the dictators allocate, we find evidence for stereotypical expectations of the recipients based on the amount the dictator allocates to them.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"103 ","pages":"Article 102742"},"PeriodicalIF":2.5,"publicationDate":"2024-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000503/pdfft?md5=220b940f4409f41bf1812b9a04b6d67d&pid=1-s2.0-S0167487024000503-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141607421","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}
Johannes Lohse , Rima-Maria Rahal , Michael Schulte-Mecklenbeck , Andis Sofianos , Conny Wollbrant
{"title":"Investigations of decision processes at the intersection of psychology and economics","authors":"Johannes Lohse , Rima-Maria Rahal , Michael Schulte-Mecklenbeck , Andis Sofianos , Conny Wollbrant","doi":"10.1016/j.joep.2024.102741","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102741","url":null,"abstract":"<div><p>In recent years, there has been growing interest in capturing, manipulating, and analyzing the effects of decision-making processes that underlie economic choice. This editorial discusses these recent developments by contextualizing the six contributions to the special issue “Cognition and Economic Behavior” within the broader scope of the existing literature.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"103 ","pages":"Article 102741"},"PeriodicalIF":3.5,"publicationDate":"2024-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167487024000497/pdfft?md5=a54c39226aa6c8f329b7881706b8035b&pid=1-s2.0-S0167487024000497-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141250388","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}
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}
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}
{"title":"Replication: Erat and Gneezy’s white lies paradigm","authors":"J. Jobu Babin , Haritima S. Chauhan","doi":"10.1016/j.joep.2024.102704","DOIUrl":"https://doi.org/10.1016/j.joep.2024.102704","url":null,"abstract":"<div><p>Not all lies are for self-benefit. Replicating the famous Erat and Gneezy (2012) “white lies” paradigm in a setting that resembles the remote workplace, we expand to explore shirking and beliefs about group behavior. Aggregate misreporting is highest when doing so benefits a salient charity; plausible lies are abundant but abate as workers inflate reports to implausible, maximal outcome <em>white</em> lies. Male workers misreport uniformly and more than females in the <em>black</em> lies control. When benefits go to a just cause, females misreport at least as much, if not more, than males. Shirking is widespread yet significantly less common when benefiting a just cause, as workers more readily complete the task but subsequently lie about the performance. Workers’ beliefs about group lying are correlated with their reporting, particularly in the <em>white</em> lies case.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102704"},"PeriodicalIF":3.5,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140548581","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":"Focal points for giving","authors":"Jeffrey Cross , Guangli Zhang","doi":"10.1016/j.joep.2024.102729","DOIUrl":"10.1016/j.joep.2024.102729","url":null,"abstract":"<div><p>Leveraging the unique context of New York City taxi rides, we estimate that passengers are more likely to tip a suggested amount when presented with an integer tip suggestion, which also corresponds with an increase in average tip rates. We show that these results are not driven by rounding heuristics and are consistent with integers acting as focal points instead of left-digit bias. Focusing on a 2012 rate fare change that increased the probability of integer tip suggestions by 700%, our estimates imply a transfer from riders to drivers of approximately 250,000 dollars in 2013.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102729"},"PeriodicalIF":3.5,"publicationDate":"2024-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140398587","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}
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}
Tiffany Tsz Kwan Tse , Nobuyuki Hanaki , Bolin Mao
{"title":"Beware the performance of an algorithm before relying on it: Evidence from a stock price forecasting experiment","authors":"Tiffany Tsz Kwan Tse , Nobuyuki Hanaki , Bolin Mao","doi":"10.1016/j.joep.2024.102727","DOIUrl":"10.1016/j.joep.2024.102727","url":null,"abstract":"<div><p>We experimentally investigated the relationship between participants’ reliance on algorithms, their familiarity with the task, and the performance level of the algorithm. We found that when participants were given the freedom to submit any number as their final forecast after observing the one produced by the algorithm (a condition found to mitigate algorithm aversion), the average degree of reliance on high and low performing algorithms did not significantly differ when there was no practice stage. Participants relied less on the algorithm when there was practice stage, regardless of its performance level. The reliance on the low performing algorithm was positive even when participants could infer that they outperformed the algorithm. Indeed, participants would have done better without relying on the low performing algorithm at all. Our results suggest that, at least in some domains, excessive reliance on algorithms, rather than algorithm aversion, should be a concern.</p></div>","PeriodicalId":48318,"journal":{"name":"Journal of Economic Psychology","volume":"102 ","pages":"Article 102727"},"PeriodicalIF":3.5,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140280728","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}