{"title":"Sustainability in the wake of crisis: Transforming climate change-induced disasters into drivers of renewable energy innovation in business","authors":"Hiva Rastegar , Aymen Sajjad , Gabriel Eweje , Kazunori Kobayashi","doi":"10.1016/j.jebo.2024.106777","DOIUrl":"10.1016/j.jebo.2024.106777","url":null,"abstract":"<div><div>This study examines how climate change-induced disasters affect renewable energy innovation in United States-based firms. To this end, we utilized the behavioral theory of the firm and the threat rigidity model to investigate strategic decision-making in the context of environmental crises. We employed a difference-in-differences approach combined with meta-analysis. Further, we analyzed data from 2013 to 2018 and found a significant increase in renewable energy innovation following climatological disasters, marked by an effect size of 0.74. However, firms exceeding their aspiration levels exhibit a smaller impact, reducing the effect on renewable energy innovation by 0.273 units. Additionally, firms with a frequent history of climatological disasters showed a decrease in renewable energy innovation, with an effect size of -0.349. Our research contributes to green innovation literature, particularly to renewable energy innovation discourse under climate challenges. It extends the behavioral theory of the firm to contexts of climatic uncertainty and applies the threat rigidity model to determine organizational adaptation. The study introduces a novel moderator: the firm's history of natural disasters, linking firm age with disaster frequency and severity. These insights are vital for enhancing strategic decision-making in the business and policy-making contexts, amidst the growing climate change challenges.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106777"},"PeriodicalIF":2.3,"publicationDate":"2024-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On the emergence of international currencies: An experimental approach","authors":"Marcos Cardozo , Yaroslav Rosokha , Cathy Zhang","doi":"10.1016/j.jebo.2024.106744","DOIUrl":"10.1016/j.jebo.2024.106744","url":null,"abstract":"<div><div>We integrate theory and experimental evidence to study the emergence of different international monetary arrangements based on the circulation of two intrinsically worthless fiat currencies as media of exchange. Our framework is based on a two-country, two-currency search model where the value of each currency is jointly determined by private agents’ decisions and monetary policy formalized as changes in a country’s money growth rate. Results from the experiments indicate subjects coordinate on a regime where both currencies are accepted even when other regimes are theoretically possible. At the same time, we find the acceptance of foreign currency depends on relative inflation rates where sellers tend to reject payment with a more inflationary foreign currency. We also document the presence of learning in shaping acceptance patterns over time.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106744"},"PeriodicalIF":2.3,"publicationDate":"2024-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Facundo Albornoz , Nicolas Bottan , Guillermo Cruces , Bridget Hoffmann , María Lombardi
{"title":"Backlash against expert recommendations: Reactions to COVID-19 advice in Latin America","authors":"Facundo Albornoz , Nicolas Bottan , Guillermo Cruces , Bridget Hoffmann , María Lombardi","doi":"10.1016/j.jebo.2024.106752","DOIUrl":"10.1016/j.jebo.2024.106752","url":null,"abstract":"<div><div>Public adherence with health recommendations is vital for effective crisis response. During the COVID-19 pandemic, governments faced considerable challenges in persuading the public to adopt new recommendations. Using large-scale survey experiments across 12 Latin American countries, we investigate how respondents’ agreement with health recommendations is affected by their attribution to experts from different sectors. Our results uncover a robust backlash against experts for pandemic-specific recommendations, but not for more general health advice. The backlash does not depend on the type of expert (academic, public or private sector). Our experimental setup allows us to concurrently assess the significance of different factors behind these results. Anti-intellectualism plays a role, since individuals with low initial trust in experts exhibit more negative reactions to expert attribution, although the backlash is also present for those with higher levels of trust, indicating that other factors likely play a role. We fail to find evidence that individual perceptions or personality traits such as social pressure, altruism or reactance contribute to the backlash. Beyond individual characteristics, we find that the backlash is stronger in countries that exhibited a more stringent government response to the pandemic.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106752"},"PeriodicalIF":2.3,"publicationDate":"2024-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Local far-right demonstrations and nationwide public attitudes towards migration","authors":"Teresa Freitas-Monteiro , Christopher Prömel","doi":"10.1016/j.jebo.2024.106766","DOIUrl":"10.1016/j.jebo.2024.106766","url":null,"abstract":"<div><div>One of the primary objectives of protests and demonstrations is to bring social, political, or economic issues to the attention of politicians and the wider population. While protests can have a mobilising and persuading effect, they may reduce support for their cause if they are perceived as a threat to public order. In this study, we look at how local or spontaneously organised right-wing xenophobic demonstrations affect concerns about hostility towards foreigners and worries about immigration among natives in Germany. We use a regression discontinuity design to compare the attitudes of individuals interviewed in the days immediately before a large far-right demonstration and individuals interviewed in the days immediately after that demonstration. Our results show that large far-right demonstrations lead to a substantial increase in worries about hostility towards foreigners of 13.7% of a standard deviation. In contrast, worries about immigration are not affected by the demonstrations, indicating that the protesters are not successful in swaying public opinion in their favour. In the heterogeneity analyses, we uncover some polarisation in the population: While worries about hostility against foreigners increase and worries about immigration decrease in left-leaning regions, both types of worries increase in districts where centre-right parties are more successful. Lastly, we also show that people become more politically interested in response to protests, mainly benefiting left-wing parties, and are more likely to wish to donate money to help refugees.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106766"},"PeriodicalIF":2.3,"publicationDate":"2024-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Larissa da Silva Marioni , Ana Rincon-Aznar , Francesco Venturini
{"title":"Productivity performance, distance to frontier and AI innovation: Firm-level evidence from Europe","authors":"Larissa da Silva Marioni , Ana Rincon-Aznar , Francesco Venturini","doi":"10.1016/j.jebo.2024.106762","DOIUrl":"10.1016/j.jebo.2024.106762","url":null,"abstract":"<div><div>Using firm-level data from 15 European countries between 2011 and 2019, this paper examines the productivity effect associated with the development of Artificial Intelligence (AI), measured by patenting success in AI fields. By making advances in AI and expanding on their knowledge base, companies can optimise production tasks, and improve resource utilisation, ultimately leading to higher levels of efficiency. To investigate this, we develop a two-fold panel regression analysis estimated within a Difference-in-Differences (DiD) framework. First, we investigate whether firms that engage in AI innovation experience a productivity boost after developing the new technology, compared to similar firms which do not undertake AI innovation. To analyse this, we employ a novel event-analysis methodology that quantifies the effect of the treatment (AI innovation) on firm performance (productivity) using a Local Projections approach within the DiD setting. Second, we utilise a Distance-to-Frontier (DTF) regression framework in order to examine whether the productivity premium of AI is associated with a firm’s ability to absorb knowledge and learn from the technologies developed by market leaders. Our findings reveal that the productivity gains directly associated with AI are statistically significant and quantitatively important, ranging between 6.2 and 17% in the event analysis, and between 2.1 and 6% in the DTF framework. We also provide some evidence that the productivity benefits of AI might be greater for those firms further away from the frontier (between 0.3 and 0.7%). Our research demonstrates that Artificial Intelligence can play a crucial role in enhancing firm productivity in Europe, a result that is evident even in these early stages of the technology’s life cycle.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106762"},"PeriodicalIF":2.3,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Janneke Blijlevens , Swee-Hoon Chuah , Ananta Neelim , Johanna E. Prasch , Ahmed Skali
{"title":"Not all about the money: Service quality information improves consumer decision-making","authors":"Janneke Blijlevens , Swee-Hoon Chuah , Ananta Neelim , Johanna E. Prasch , Ahmed Skali","doi":"10.1016/j.jebo.2024.106769","DOIUrl":"10.1016/j.jebo.2024.106769","url":null,"abstract":"<div><div>Information asymmetries are pervasive in many industries and can result in large losses in consumer welfare. Does providing product quality information result in improved consumer decision-making? We study this question in a market where quality is notoriously hard to determine ex ante: the residential energy market. Using a discrete choice experiment (<em>N</em> = 1,002), we document a substantial willingness-to-pay (37–45 % of the median bill) for four service quality attributes (transparency, agency, authenticity, and convenience). In an incentivized search task (<em>N</em> = 432), we show that <em>how</em> quality information is presented matters: consumers who view information in the form of ratings and stamps of approval are (i) 4 % more likely to opt in to the search task, and (ii) 20 % more likely to correctly identify given levels of quality, relative to consumers who are provided with bar graphs, pie charts, and text. Finally, using a decision experiment (<em>N</em> = 510) with real company names familiar to our participants, we find that the provision of quality information increases choices of the best-rated company more than 20-fold, relative to the control scenario where quality information is absent, in which consumers select companies predominantly on price and brand awareness. Our findings are applicable to other markets in which information asymmetries are present, where policymakers should consider interventions that promote transparency and quality information provision.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106769"},"PeriodicalIF":2.3,"publicationDate":"2024-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Hospital capacity reporting in Germany during Covid-19","authors":"Simon Reif, Sabrina Schubert","doi":"10.1016/j.jebo.2024.106730","DOIUrl":"10.1016/j.jebo.2024.106730","url":null,"abstract":"<div><div>During the COVID-19 pandemic, hospitals faced a unique predicament. Hospital care was urgently needed and society took efforts to prevent overwhelming hospitals. However, hospitals in case-based reimbursement schemes faced financial problems because of canceled elective care visits and government regulations to keep capacity free for Covid-19 patients. Therefore, emergency financing measures were implemented in many countries. We analyze how hospitals in Germany responded to a scheme that provided financial support if the intensive care unit (ICU) occupancy rate in a county exceeded 75%. The scheme distributed over seven billion euros to hospitals and was notable because financial support depended on a measure (ICU occupancy rate) that hospitals could directly influence. To analyze hospitals’ reactions to this scheme, we employ event study analyses comparing ICU capacity before and after regions became eligible. We find no evidence of strategic reporting at an economically meaningful and hence empirically detectable scale.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106730"},"PeriodicalIF":2.3,"publicationDate":"2024-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Who is to suffer? Quantifying the impact of sanctions on German firms","authors":"Holger Görg , Anna Jacobs , Saskia Meuchelböck","doi":"10.1016/j.jebo.2024.106767","DOIUrl":"10.1016/j.jebo.2024.106767","url":null,"abstract":"<div><div>In this paper, we use a novel firm level dataset for Germany to investigate the effect of sanctions on export behaviour and performance of German firms. More specifically, we study the sanctions imposed by the EU against Russia in 2014 in response to the annexation of Crimea and Russia’s countermeasures. We find a substantial negative effect on both the extensive and intensive margin of German exports. While the negative effects are strongest for firms exporting products subject to trade restrictions, we provide further evidence on the indirect effects of sanctions. Analysing the impact on broader measures of firm performance, we document that the cost of sanctions is heterogeneous across firms but overall modest. Our results reveal that the negative impact of the shock was concentrated primarily among a small number of firms that were highly dependent on Russia as an export market and those directly affected by the sanctions.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106767"},"PeriodicalIF":2.3,"publicationDate":"2024-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Highway havens for hidden horrors: Expressway connections and child trafficking in China","authors":"Xinyan Liu , Yu Bai , Yanjun Li , Yajie Sun","doi":"10.1016/j.jebo.2024.106765","DOIUrl":"10.1016/j.jebo.2024.106765","url":null,"abstract":"<div><div>Child trafficking is a deep-seated social issue with enduring consequences that remain concealed or less obvious to the general public. We argue that the intensity of child trafficking increases as an indirect and unintended consequence of improved urban infrastructure, such as the construction of highways that facilitate the expedient transfer of victims between cities. To establish a causal relationship, we analyze data on child abduction and combine it with geo-referenced information on China’s highway routes. Using a staggered difference-in-differences approach and a city-to-city analysis, we find that the construction of highways in a city significantly leads to an increase in abducted children. Changes in both demand and supply factors following the highway construction could explain the increase in child trafficking.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106765"},"PeriodicalIF":2.3,"publicationDate":"2024-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142535684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Julia Berazneva , Daniel Graeber , Michelle McCauley , Sabine Zinn , Peter Hans Matthews
{"title":"Moral bandwidth and environmental concerns during a public health crisis: Evidence from Germany","authors":"Julia Berazneva , Daniel Graeber , Michelle McCauley , Sabine Zinn , Peter Hans Matthews","doi":"10.1016/j.jebo.2024.106753","DOIUrl":"10.1016/j.jebo.2024.106753","url":null,"abstract":"<div><div>Did the COVID-19 pandemic crowd out environmental concerns, as one might expect if “pools of worry” were finite or “moral bandwidth” was limited? We use Chancellor Angela Merkel’s address to the German nation on 18 March 2020 as the threshold in a regression discontinuity in time (RDiT) to evaluate the effects of an increase in COVID-based economic and health concerns on the climate and environmental concerns of respondents to the German Socio-Economic Panel (SOEP). We find no evidence of crowding out – there is even some indication that environmental concerns increased, especially on the intensive margin – and show that this result survives various robustness checks. We also share some evidence that the treatment effects are heterogeneous: the concerns of older and more patient Germans, as well as those who report more social trust, increased relative to other groups. This is consistent with the absence of bandwidth constraints, but other interpretations – hierarchical or complementary concerns, for example – are also possible.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"228 ","pages":"Article 106753"},"PeriodicalIF":2.3,"publicationDate":"2024-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142444641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}