{"title":"Carbon Pricing, Carbon Dividends and Cooperation: Experimental Evidence","authors":"","doi":"10.1016/j.jebo.2024.07.004","DOIUrl":"10.1016/j.jebo.2024.07.004","url":null,"abstract":"<div><p>We investigated whether carbon taxes with and without carbon dividends improve cooperative behavior to mitigate simulated climate change. We implemented a randomized controlled trial on a large sample of the U.S. general population (<span><math><mrow><mi>N</mi><mo>=</mo><mn>2</mn><mo>,</mo><mn>116</mn></mrow></math></span>). Played in real-time in groups of four, we tested three carbon-pricing treatments and a baseline condition within a modified threshold public goods game of loss avoidance. We found that a carbon tax coupled with carbon dividends reduces carbon-emitting group consumption relative to a baseline condition with no tax, and relative to a carbon tax only. A carbon tax coupled with carbon dividends paid out to below-average polluters (asymmetric dividend) worked best, with 94% of groups remaining below a critical consumption (emission) threshold. We also found that experiencing the asymmetric dividend condition positively affected perceptions of carbon pricing with carbon dividends.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167268124002634/pdfft?md5=129c6bb140c5bd58ebf22e1f384e7385&pid=1-s2.0-S0167268124002634-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141622684","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":"Immigration and unemployment. Do natives get it right?","authors":"","doi":"10.1016/j.jebo.2024.06.004","DOIUrl":"10.1016/j.jebo.2024.06.004","url":null,"abstract":"<div><p>We analyse whether natives correctly assess the effects of immigration on their own labour market<span><span> opportunities. We relate self-reported job loss and job finding probabilities to the presence of foreign-born residents in a native’s neighbourhood. We interpret coefficient estimates through the lens of a learning model that allows us to disentangle the true effect of immigration from the perception bias. Our results show that natives greatly overestimate the effects of immigrants on their likelihood of losing the current job against the lack of significant true effects; job seekers’ perceptions are instead broadly unaffected, a largely correct assessment given the failure to detect significant true effects. Overestimation of the adverse effects of immigration on separation rates is concentrated among females, the low educated, the youths, the residents of smaller towns and employees on permanent contracts; the complementary groups appear to correctly assess that immigration has at best only modest effects. We briefly discuss the implications of these findings for the interpretation of empirical work on the </span>labour market effects of immigration.</span></p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141839703","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}
{"title":"Identity and access: Gender-based preferences and physician availability in primary care","authors":"","doi":"10.1016/j.jebo.2024.07.009","DOIUrl":"10.1016/j.jebo.2024.07.009","url":null,"abstract":"<div><p>Patient preferences for physicians may be influenced by shared characteristics such as gender. We analyzed experimental data from a survey of US adults in which respondents were asked to choose between physician profiles that on average varied only by gender. We find that female patients prefer female physicians to male physicians by 51.8 percentage points (95 % CI: 0.470 to 0.566, <em>p</em> < 0.01), and that result holds across Black, White, and Hispanic sub-groups. With no countervailing preference among male patients, this result holds in the overall sample at 26.8 percentage points (95 % CI: 0.228 to 0.307, <em>p</em> < 0.01). We also analyzed data from a simulated patient field experiment concerning access to primary care appointments and find that female physicians, on average, offer appointments 7.1 days later than male physicians (95 % CI: 5.1 to 9.1, <em>p</em> < 0.01), consistent with the finding that female physicians are preferred. Female physicians’ offices appear to favor female patients, offering appointments to them 2.6 days earlier compared to male patients (95 % CI: -5.3 to 0.195, <em>p</em> = 0.07). However, Hispanic female patients were offered 4.2-percentage-points fewer appointments compared to Hispanic males (95 % CI: -0.069 to -0.014, <em>p</em> < 0.01) by female physicians’ offices. Similarly, Black female patients were told that the physician is “not taking new patients” 3.5 percentage points more often (95 % CI: -0.004 to 0.073, <em>p</em> = 0.08) and were offered appointments that were 2.6 minutes shorter compared to Black males (95 % CI: -4.8 to -0.44, <em>p</em> = 0.02). Overall, our analysis suggests that female primary care physicians are in high demand relative to their supply, and that access to scarce female physicians is mediated by race and ethnicity.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167268124002671/pdfft?md5=bd91eeb1e9ccfff7b1cef49dab1e1a6a&pid=1-s2.0-S0167268124002671-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141622718","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":"Don’t stop believin’: Income group heterogeneity in updating of social mobility beliefs","authors":"","doi":"10.1016/j.jebo.2024.06.029","DOIUrl":"10.1016/j.jebo.2024.06.029","url":null,"abstract":"<div><p>This article presents a novel explanation for why demand for redistribution may not respond to information on low intergenerational mobility on average. Conducting a survey experiment in Austria, we show that the average treatment effect on perceptions is mostly driven by high-income individuals while low-income individuals hardly react. Using data from two related survey experiments, we document similar heterogeneity in Germany, the United States, Italy, and Sweden, while France and the United Kingdom appear to exhibit different dynamics. The low-income group, which has the strongest incentive to increase demand for redistribution, makes few adjustments to its beliefs. This may explain the frequently observed persistence of redistributive preferences. We observe that demand for redistribution remains unchanged on average and across income groups in the five countries with differential belief updating by income. Conversely, a more substantial increase in demand for redistribution seems to occur in France, where all income groups update their beliefs similarly. Further, we provide suggestive evidence that low-income individuals update their beliefs more in less ego-relevant contexts, indicating motivated beliefs.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167268124002476/pdfft?md5=24fedc9b193f1ec76317426aa9ca5cba&pid=1-s2.0-S0167268124002476-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141622682","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}
Sophie Cetre , Yann Algan , Gianluca Grimalda , Fabrice Murtin , David Pipke , Louis Putterman , Ulrich Schmidt , Vincent Siegerink
{"title":"Ethnic bias, economic achievement and trust between large ethnic groups: A study in Germany and the U.S","authors":"Sophie Cetre , Yann Algan , Gianluca Grimalda , Fabrice Murtin , David Pipke , Louis Putterman , Ulrich Schmidt , Vincent Siegerink","doi":"10.1016/j.jebo.2024.07.003","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.07.003","url":null,"abstract":"<div><p>Evidence for ingroup bias is extensive, yet the distinct patterns of discrimination among dominant ethnic groups in the diverse societies of modern industrial nations such as the United States and Germany remain largely unexplored. Incentivized trust games in nationally-representative samples from both countries reveal biases of roughly equal size by non-Hispanic White Americans, Hispanic Americans, and African Americans against each outgroup. In Germany, the majority demonstrates twice as much bias against Turkish minorities compared to Eastern Europeans. Interestingly, both minority groups send similar amounts to ethnic Germans and members of their own groups. We examine the notion that outgroup discrimination by majority group members stems from stereotypes of minorities as economically unsuccessful, employing trust games with high-income counterparts. We find that majority senders’ bias against minority receivers declines when receivers are known to have high incomes, in line with that idea. Interestingly, some minority groups, especially Turkish descendants, display a negative propensity to transfer to rich members of their ingroup in comparison with outgroup members, relative to baseline. While we focus on differences in sending by ethnic pairing, we note that all participants send less to second movers identified as high income, and discuss possible explanations. We estimate that four-fifths of the observed ingroup bias is taste-based rather than due to expected trustworthiness differences. This estimation is robust to identifying the purely altruistic component of trust game sending toward each ethnic group, including one's own.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141606778","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}
Sherrihan Radi , Bartosz Gebka , Vasileios Kallinterakis
{"title":"The wisdom of the madness of crowds: Investor herding, anti-herding, and stock-bond return correlation","authors":"Sherrihan Radi , Bartosz Gebka , Vasileios Kallinterakis","doi":"10.1016/j.jebo.2024.07.005","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.07.005","url":null,"abstract":"<div><p>We examine investors’ herding/anti-herding behavior in the US stock and corporate bond markets and their impact on stock-bond return correlation. Corporate bonds exhibit herding, with stocks displaying anti-herding. Bond herding and stock anti-herding are weakly related, with each significantly dampening the stock-bond return correlation. This effect is largely driven by their irrational components, affecting mostly the correlation of noise-driven stock and bond return elements, more so during periods of elevated uncertainty, optimistic sentiment and excessively positive economic performance. As the irrational forces in each asset class (stocks; bonds) countervail each other, this implies greater stability and resilience for the financial system.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141593105","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}
Maria Alipranti , Constantine Manasakis , Emmanuel Petrakis
{"title":"Corporate social responsibility and bargaining in unionized markets","authors":"Maria Alipranti , Constantine Manasakis , Emmanuel Petrakis","doi":"10.1016/j.jebo.2024.06.032","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.06.032","url":null,"abstract":"<div><p>We investigate the firms’ and unions’ incentives to engage in socially responsibility activities in a unionized differentiated goods’ duopoly market. The socially responsible attributes attached to products are considered as credence goods, with consumers forming expectations about their existence and level. We show that a Corporate Social Responsibility (CSR) bargaining scheme, in which firms and unions bargain over not only the wage rate but also the level of the firms’ CSR activities, always arises in equilibrium. Incorporating CSR activities into the union–firm bargaining agenda acts as a commitment device that credibly signals to consumers the level of CSR activities undertaken by firms. The market equilibrium leads to the highest social welfare; thus, market and societal incentives are aligned.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167268124002506/pdfft?md5=bc837ff7ce8d60816e9234622d8f8701&pid=1-s2.0-S0167268124002506-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141593486","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":"Consumption dynamics with law of small numbers","authors":"Yingjie Niu , Yaoyao Wu , Siqi Zhao , Zhentao Zou","doi":"10.1016/j.jebo.2024.06.021","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.06.021","url":null,"abstract":"<div><p>We propose an intertemporal consumption-saving model by exploring the implications of the Law of Small Numbers (LSN), a belief heuristic stating that any sample realization of a population should be representative of the population. First, the existence of the LSN reduces the precautionary savings demand. More importantly, we show that the LSN belief structure provides an alternative explanation for two fundamental anomalies in consumption theory: (1) excess sensitivity by showing that past changes in income predict future changes in consumption; and (2) excess smoothness by lowering consumption volatility and generating the empirical magnitude.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141593103","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}
{"title":"Does correlation matter in probability matching? A laboratory investigation","authors":"Jing Zhou","doi":"10.1016/j.jebo.2024.06.028","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.06.028","url":null,"abstract":"<div><p>Probability Matching, a classical violation of expected utility maximization, refers to people's tendency to randomize, or even match their choice frequency to the outcome probability, when choosing over binary lotteries that differ only in their probabilities. Why? I present an experiment designed to distinguish between several broad classes of explanations: (1) models of <em>Correlation-Invariant Stochastic Choice</em> — randomizing due to factors orthogonal to the correlation between lotteries, such as non-standard preferences or errors, and (2) models of <em>Correlation-Sensitive Stochastic Choice</em> — deliberately randomizing due to misperceived hedging opportunities, especially when lotteries are negatively correlated. My experimental design differentiates between their testable predictions by varying the correlation between lottery outcomes. The findings indicate that the first class, despite being home to most existing theories, has limited explanatory power. Using additional treatment, I rule out <em>Similarity Heuristics</em> as a competing explanation with the second class. The results indicate that a vast majority of individuals deliberately randomize due to misperceived hedging opportunities.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141593101","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}
{"title":"Conspicuous consumption: Vehicle purchases by non-prime consumers","authors":"Wenhua Di , Yichen Su","doi":"10.1016/j.jebo.2024.06.025","DOIUrl":"https://doi.org/10.1016/j.jebo.2024.06.025","url":null,"abstract":"<div><p>Lower-income consumers who seek to increase their perceived social status or to emulate their wealthier peers may be motivated to purchase conspicuous luxury goods. Using a vehicle financing dataset, we find that non-prime consumers value vehicle prestige more than the average consumer. The stronger preferences for prestige lead non-prime consumers to purchase more expensive vehicles than they otherwise would. The preferences for prestige are driven both by status signaling and peer emulation motives. Furthermore, we show that larger vehicle purchases financed by auto loans lead to worse loan performance and credit standing for non-prime consumers.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141593102","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}