An Experimental Study of Expectation ...
Author | : William Henry Pyle |
Publisher | : |
Total Pages | : 54 |
Release | : 1909 |
Genre | : Consciousness |
ISBN | : |
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Author | : William Henry Pyle |
Publisher | : |
Total Pages | : 54 |
Release | : 1909 |
Genre | : Consciousness |
ISBN | : |
Author | : Donald Oscar Stover |
Publisher | : |
Total Pages | : 160 |
Release | : 1963 |
Genre | : |
ISBN | : |
Author | : Martha Foschi |
Publisher | : |
Total Pages | : 358 |
Release | : 1969 |
Genre | : Performance |
ISBN | : |
Author | : Ronald Peeters |
Publisher | : |
Total Pages | : 22 |
Release | : 2014 |
Genre | : |
ISBN | : |
Author | : Gordon Harriman Lewis |
Publisher | : |
Total Pages | : 262 |
Release | : 1966 |
Genre | : Social psychology |
ISBN | : |
Author | : Andreas Fuster |
Publisher | : |
Total Pages | : 45 |
Release | : 2018 |
Genre | : Consumer behavior |
ISBN | : |
Information frictions play an important role in many theories of expectation formation and macroeconomic fluctuations. We use a survey experiment to generate direct evidence on how people acquire and process information, in the context of national home price expectations. We let consumers buy different pieces of information that could be relevant for the formation of their expectations about the future median national home price. We use an incentive-compatible mechanism to elicit their maximum willingness to pay. We also introduce exogenous variation in the value of information by randomly assigning individuals to rewards for the ex-post accuracy of their expectations. Consistent with rational inattention, individuals are willing to pay more for information when they stand to gain more from it. However, underscoring the importance of limits on information processing capacity, individuals disagree on which signal they prefer to buy. Individuals with lower education and financial numeracy are less likely to demand information that has ex-ante higher predictive power, independently of stakes. As a result, lowering the information acquisition cost does not decrease the cross-sectional dispersion of expectations. Our findings have implications for models of expectation formation and for the design of information interventions.
Author | : Robert Rosenthal |
Publisher | : Crown House Publishing |
Total Pages | : 266 |
Release | : 2003 |
Genre | : Education |
ISBN | : 9781904424062 |
This reissue of a classic book (the first edition of which sold 50,000 copies) explores the 'Pygmalion phenomenon', the self-fulfilling prophecy embedded in teachers' expectations.
Author | : John Duffy |
Publisher | : Emerald Group Publishing |
Total Pages | : 320 |
Release | : 2014-11-14 |
Genre | : Business & Economics |
ISBN | : 1784411949 |
Volume 17 entitled 'Experiments in Macroeconomics', of the Research in Experimental Economics Book Series is the first-ever collection by leading researchers in the field of laboratory studies aimed at understanding macroeconomic phenomena.
Author | : Tyler Williams |
Publisher | : |
Total Pages | : 0 |
Release | : 2007 |
Genre | : |
ISBN | : |
Numerous studies have found that top-down processes can affect perceptions. This study examines some of the issues involved in designing field experiments aimed at discovering whether top-down mental processes affect perceptions, and, if so, how the influence takes place. Lee, Frederick, and Ariely (2006) (LFA) attempt to go further by testing whether expectations affect perception directly, by altering how sensory receptors and/or the brain's processing centers interpret a outside stimulus - or indirectly, for example, by changing the amount of attention paid to the outside stimulus. In order to test the robustness of the findings in LFA, this paper reports the results of a field experiment similar to the one analyzed in LFA. The field experiment, designed to address some potential confounding factors in this type of research, confirms that expectations can alter perceptions. However, it also shows that heterogeneity across individuals can play a role in determining the nature of this effect, a finding that complicates the interpretation of results such as those in LFA. To frame the analysis, this paper discusses the difficulties in designing this type of experiment, makes some improvements to existing designs, and suggests some ways of eliminating the confounding influences that remain.
Author | : Granville Stanley Hall |
Publisher | : |
Total Pages | : 626 |
Release | : 1909 |
Genre | : Psychology |
ISBN | : |