Why choose less money over more when no one is watching? A central tenet of economics is that this behaviour can be explained by intrinsic motivation. But what does intrinsic motivation entail? What encourages it? This paper answers these questions through a Smithian lens; moral motivation includes not only a naturally strong love of praise and dread of blame but also a natural, and stronger, love of being worthy of praise and dread of being worthy of blame, even if neither is necessarily given. I rely on quantitative and qualitative data from economic experiments to illustrate this claim. While the current scholarship on Smith has applied his theory to situations in which our actions either evoke reactions from others or have monetary consequences for them, I extend his insights to the receiver (Tjøtta, 2019) and dice-rolling (Fischbacher & Föllmi-Heusi, 2013) games aimed at eliciting self-regarding concerns, actions affecting the interests of only ourselves. I argue that these games accentuate the strength of the love of praiseworthiness in guiding behaviour, emphasising its immediate reference to others and foundation in intentions along with outcomes.
{"title":"Choosing Less over More Money:The Love of Praiseworthiness and the Dread of Blameworthiness in One-Player Games","authors":"N. Serdarevic","doi":"10.2139/ssrn.3946328","DOIUrl":"https://doi.org/10.2139/ssrn.3946328","url":null,"abstract":"Why choose less money over more when no one is watching? A central tenet of economics is that this behaviour can be explained by intrinsic motivation. But what does intrinsic motivation entail? What encourages it? This paper answers these questions through a Smithian lens; moral motivation includes not only a naturally strong love of praise and dread of blame but also a natural, and stronger, love of being worthy of praise and dread of being worthy of blame, even if neither is necessarily given. I rely on quantitative and qualitative data from economic experiments to illustrate this claim. While the current scholarship on Smith has applied his theory to situations in which our actions either evoke reactions from others or have monetary consequences for them, I extend his insights to the receiver (Tjøtta, 2019) and dice-rolling (Fischbacher & Föllmi-Heusi, 2013) games aimed at eliciting self-regarding concerns, actions affecting the interests of only ourselves. I argue that these games accentuate the strength of the love of praiseworthiness in guiding behaviour, emphasising its immediate reference to others and foundation in intentions along with outcomes.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116680407","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Political science research finds that individuals exhibit partisan bias, which results in unduly favorable economic expectations when their partisanship aligns with that of the US president. We examine whether partisan bias is present in management earnings forecasts, where CEOs have strong incentives to provide high-quality forecasts. We find that firms with CEOs whose partisanship aligns with that of the US president issue more optimistically biased management earnings forecasts than CEOs whose partisanship is unknown or not aligned with that of the US president. Our results suggest that CEOs fall prey to partisan bias, which results in suboptimal forecasting behavior. In cross-sectional analyses, we find that this forecast over-optimism is attenuated when CEOs are of higher ability. Additionally, we find that investors fail to discount the news in forecasts issued by CEOs whose partisanship aligns with that of the US president and that post-forecast abnormal returns are lower for these firms.
{"title":"CEO Partisan Bias and Management Earnings Forecast Bias","authors":"Michael D. Stuart, Jing Wang, R. H. Willis","doi":"10.2139/ssrn.3946547","DOIUrl":"https://doi.org/10.2139/ssrn.3946547","url":null,"abstract":"Political science research finds that individuals exhibit partisan bias, which results in unduly favorable economic expectations when their partisanship aligns with that of the US president. We examine whether partisan bias is present in management earnings forecasts, where CEOs have strong incentives to provide high-quality forecasts. We find that firms with CEOs whose partisanship aligns with that of the US president issue more optimistically biased management earnings forecasts than CEOs whose partisanship is unknown or not aligned with that of the US president. Our results suggest that CEOs fall prey to partisan bias, which results in suboptimal forecasting behavior. In cross-sectional analyses, we find that this forecast over-optimism is attenuated when CEOs are of higher ability. Additionally, we find that investors fail to discount the news in forecasts issued by CEOs whose partisanship aligns with that of the US president and that post-forecast abnormal returns are lower for these firms.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134604645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper takes on the issue of systemic social problems by looking at a suitable extension and adaptation of Leibenstein's X-efficiency theory from a transdisciplinary perspective.
本文从跨学科的角度对莱本斯坦的x效率理论进行适当的扩展和改编，以探讨系统性社会问题。
{"title":"Understanding Systemic Social Problems: Moving Beyond the Limits of Leibenstein’s X-Efficiency Theory— An Essay in Theoretical Behavioral Social Policy","authors":"C. Aspalter","doi":"10.2139/ssrn.3861079","DOIUrl":"https://doi.org/10.2139/ssrn.3861079","url":null,"abstract":"This paper takes on the issue of systemic social problems by looking at a suitable extension and adaptation of Leibenstein's X-efficiency theory from a transdisciplinary perspective.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132492889","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The soft drinks market in India has undergone a major shake up as a result of the entry of two well known multinational companies namely Coca-Cola and Pepsi. Ever since, it is obvious that the competition is virtually confined to Pepsi and Coca-Cola only as both the companies are following aggressive marketing strategies to win over customers’ loyalty in eternally existing stiff competition. Hence, an attempt has been made by the researcher in this present study to analyze the brand preference of Cool Drinks in Gobichettipalayam Town.
{"title":"An Exploratory Study on Brand Preference of Cool drinks in Gobichettipalayam Town","authors":"M. S, P. Venkatachalapathy","doi":"10.2139/ssrn.3743457","DOIUrl":"https://doi.org/10.2139/ssrn.3743457","url":null,"abstract":"The soft drinks market in India has undergone a major shake up as a result of the entry of two well known multinational companies namely Coca-Cola and Pepsi. Ever since, it is obvious that the competition is virtually confined to Pepsi and Coca-Cola only as both the companies are following aggressive marketing strategies to win over customers’ loyalty in eternally existing stiff competition. Hence, an attempt has been made by the researcher in this present study to analyze the brand preference of Cool Drinks in Gobichettipalayam Town.<br>","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125736158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Absolute poverty has dropped markedly in Bulgaria but income inequality has increased substantially in the aftermath of the GFC This increase is due to a rise in market income inequality that was compounded by a reduction in fiscal redistribution The redistributive role of direct taxation has declined with the introduction of a flat tax and social spending is relatively low and decreasing (as a share of GDP), is concentrated on a few social risks, and experienced a decline in its redistributive efficiency The COVID-19 crisis is likely to deepen income inequality, increasing the room for redistributive policies
{"title":"Inequality, Poverty, and Social Protection in Bulgaria","authors":"Jean-Jacques Hallaert","doi":"10.2139/ssrn.3688532","DOIUrl":"https://doi.org/10.2139/ssrn.3688532","url":null,"abstract":"Absolute poverty has dropped markedly in Bulgaria but income inequality has increased substantially in the aftermath of the GFC This increase is due to a rise in market income inequality that was compounded by a reduction in fiscal redistribution The redistributive role of direct taxation has declined with the introduction of a flat tax and social spending is relatively low and decreasing (as a share of GDP), is concentrated on a few social risks, and experienced a decline in its redistributive efficiency The COVID-19 crisis is likely to deepen income inequality, increasing the room for redistributive policies","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114733526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Loujaina Abdelwahed, T. Czurylo, Colen Campbell, Shogher Ohannessian
The COVID-19 pandemic and the resulting lockdown policies have disproportionately affected workers at the bottom of the income distribution, thus widening the earnings gap between the top and the bottom percentiles of workers. In this paper, we examine how changes in the labor market due to the COVID-19 recession affect earnings inequality in the US and contrast the effect of COVID-19 recession with previous recessions identified since 1988. Using monthly earnings data from the Current Population Survey, we find a precipitous increase in inequality as measured by the 10/90 ratio of earnings in April 2020. The increase in earnings inequality can be attributed to the widening of the gap in earnings in the bottom of the earnings distribution. Compared to the Great Recession, that saw a comparable increase in earnings inequality, the underlying causes of changes in inequality differ significantly. Most job losses in the COVID-19 recession are concentrated among low earning industries in the services sector, while job losses during the Great Recession were more uniformly distributed across the earnings distribution. The results of the present study provide key guidelines for the design of redistribution policies in the post pandemic recovery.
COVID-19大流行及其导致的封锁政策对收入分配底部的工人产生了不成比例的影响，从而扩大了最高和最低百分位数工人之间的收入差距。在本文中，我们研究了COVID-19衰退导致的劳动力市场变化如何影响美国的收入不平等，并将COVID-19衰退的影响与1988年以来的历次衰退进行了对比。利用当前人口调查(Current Population Survey)的月度收入数据，我们发现，以2020年4月的10/90收入比率衡量，不平等程度急剧上升。收入不平等的加剧可以归因于收入分布底部的收入差距的扩大。与经济大衰退时期相比，收入不平等也出现了相当程度的增加，但不平等变化的根本原因却有很大不同。在2019冠状病毒病衰退期间，大多数失业集中在服务业的低收入行业，而大衰退期间的失业在整个收入分配中分布更为均匀。本研究的结果为大流行后恢复时期再分配政策的设计提供了关键指导方针。
{"title":"Inequality Consequences of the COVID-19 Recession","authors":"Loujaina Abdelwahed, T. Czurylo, Colen Campbell, Shogher Ohannessian","doi":"10.2139/ssrn.3658802","DOIUrl":"https://doi.org/10.2139/ssrn.3658802","url":null,"abstract":"The COVID-19 pandemic and the resulting lockdown policies have disproportionately affected workers at the bottom of the income distribution, thus widening the earnings gap between the top and the bottom percentiles of workers. In this paper, we examine how changes in the labor market due to the COVID-19 recession affect earnings inequality in the US and contrast the effect of COVID-19 recession with previous recessions identified since 1988. Using monthly earnings data from the Current Population Survey, we find a precipitous increase in inequality as measured by the 10/90 ratio of earnings in April 2020. The increase in earnings inequality can be attributed to the widening of the gap in earnings in the bottom of the earnings distribution. Compared to the Great Recession, that saw a comparable increase in earnings inequality, the underlying causes of changes in inequality differ significantly. Most job losses in the COVID-19 recession are concentrated among low earning industries in the services sector, while job losses during the Great Recession were more uniformly distributed across the earnings distribution. The results of the present study provide key guidelines for the design of redistribution policies in the post pandemic recovery.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"257 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117350677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
L. Meng, Yinggang Zhou, Ruige Zhang, Zhen Ye, S. Xia, G. Cerulli, Carter B. Casady, W. Härdle
Many countries have taken non-pharmaceutical interventions (NPIs) to contain the spread of the coronavirus (COVID-19) and push the recovery of national economies. This paper investigates the effect of these control measures by comparing five selected countries, China, Italy, Germany, the United Kingdom, and the United States. There is evidence that the degree of early intervention and efficacy of control measures are essential to contain the pandemic. China stands out because its early and strictly enforced interventions are effective to contain the virus spread. Furthermore, we quantify the causal effect of different control measures on COVID-19 transmission and work resumption in China. Surprisingly, digital contact tracing and delegating clear responsibility to the local community appear to be the two most effective policy measures for disease containment and work resumption. Public information campaigns and social distancing also help to flatten the peak significantly. Moreover, material logistics that prevent medical supply shortages provide an additional conditioning factor for disease containment and work resumption. Fiscal policy, however, is less effective at the early to middle stage of the pandemic.
{"title":"The Effect of Control Measures on COVID-19 Transmission and Work Resumption: International Evidence","authors":"L. Meng, Yinggang Zhou, Ruige Zhang, Zhen Ye, S. Xia, G. Cerulli, Carter B. Casady, W. Härdle","doi":"10.2139/ssrn.3656307","DOIUrl":"https://doi.org/10.2139/ssrn.3656307","url":null,"abstract":"Many countries have taken non-pharmaceutical interventions (NPIs) to contain the spread of the coronavirus (COVID-19) and push the recovery of national economies. This paper investigates the effect of these control measures by comparing five selected countries, China, Italy, Germany, the United Kingdom, and the United States. There is evidence that the degree of early intervention and efficacy of control measures are essential to contain the pandemic. China stands out because its early and strictly enforced interventions are effective to contain the virus spread. Furthermore, we quantify the causal effect of different control measures on COVID-19 transmission and work resumption in China. Surprisingly, digital contact tracing and delegating clear responsibility to the local community appear to be the two most effective policy measures for disease containment and work resumption. Public information campaigns and social distancing also help to flatten the peak significantly. Moreover, material logistics that prevent medical supply shortages provide an additional conditioning factor for disease containment and work resumption. Fiscal policy, however, is less effective at the early to middle stage of the pandemic.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"282 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115901924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Heap, Christel Koop, Konstantinos Matakos, Aslı Unan, N. Weber
Policy makers responding to COVID-19 need to know people’s relative valuation of health over wealth. Loosening and tightening lockdowns moves a society along a (perceived) health-wealth trade-off and the associated changes have to accord with the public’s relative valuation of health and wealth for maximum compliance. In our survey experiment (N=4,618), we randomize information provision on economic and health costs to assess public preferences over this trade-off in the UK and the US. People strongly prioritize health over wealth, but the treatment effects suggest these priorities will change as experience of COVID-19 deaths and income losses evolves. Information also has heterogeneous/polarizing effects. These results encourage policy caution. Individual differences in health-wealth valuation highlight this study’s importance because they map onto compliance with current lockdown measures.
{"title":"COVID-19 and People's Health-Wealth Preferences: Information Effects and Policy Implications","authors":"S. Heap, Christel Koop, Konstantinos Matakos, Aslı Unan, N. Weber","doi":"10.2139/ssrn.3605003","DOIUrl":"https://doi.org/10.2139/ssrn.3605003","url":null,"abstract":"Policy makers responding to COVID-19 need to know people’s relative valuation of health over wealth. Loosening and tightening lockdowns moves a society along a (perceived) health-wealth trade-off and the associated changes have to accord with the public’s relative valuation of health and wealth for maximum compliance. In our survey experiment (N=4,618), we randomize information provision on economic and health costs to assess public preferences over this trade-off in the UK and the US. People strongly prioritize health over wealth, but the treatment effects suggest these priorities will change as experience of COVID-19 deaths and income losses evolves. Information also has heterogeneous/polarizing effects. These results encourage policy caution. Individual differences in health-wealth valuation highlight this study’s importance because they map onto compliance with current lockdown measures.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132499084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The outbreak of COVID-19 has become a worldwide concern for consumers, businesses, and public policy makers. Social distancing is now a top consideration for consumers when deciding where and how to shop, which reduces their willingness to shop in physical stores with others who may carry the virus. In this paper, we use a game-theoretic model to analyze how consumers' preference for social distancing affects store profits, consumer surplus, social welfare, and the equilibrium spread of COVID-19 among consumers when they, along with stores and online delivery platform, strategically respond to social distancing. We find that the preference for social distancing 1) decreases store profits in a monopoly but can increase them in a duopoly, 2) strictly benefits the delivery platform, and 3) weakly decreases consumer surplus and social welfare in both a monopoly and a duopoly. Meanwhile, the preference for social distancing reduces the spread of COVID-19 by reducing store traffic, but this positive effect only arises when stores sell online through their own channels. When stores sell online through a third-party platform, consumers' preference for social distancing does not affect the spread of COVID-19 amongst shoppers. Moreover, we find that, while facilitating delivery services can be ineffective in reducing the spread of COVID-19, subsidizing online shopping and regulating third-party platforms can help contain the virus.
{"title":"COVID-19 Pandemic: Social Distancing, Public Policy, and Market Response","authors":"Krista J. Li, Xi Li","doi":"10.2139/ssrn.3593813","DOIUrl":"https://doi.org/10.2139/ssrn.3593813","url":null,"abstract":"The outbreak of COVID-19 has become a worldwide concern for consumers, businesses, and public policy makers. Social distancing is now a top consideration for consumers when deciding where and how to shop, which reduces their willingness to shop in physical stores with others who may carry the virus. In this paper, we use a game-theoretic model to analyze how consumers' preference for social distancing affects store profits, consumer surplus, social welfare, and the equilibrium spread of COVID-19 among consumers when they, along with stores and online delivery platform, strategically respond to social distancing. We find that the preference for social distancing 1) decreases store profits in a monopoly but can increase them in a duopoly, 2) strictly benefits the delivery platform, and 3) weakly decreases consumer surplus and social welfare in both a monopoly and a duopoly. Meanwhile, the preference for social distancing reduces the spread of COVID-19 by reducing store traffic, but this positive effect only arises when stores sell online through their own channels. When stores sell online through a third-party platform, consumers' preference for social distancing does not affect the spread of COVID-19 amongst shoppers. Moreover, we find that, while facilitating delivery services can be ineffective in reducing the spread of COVID-19, subsidizing online shopping and regulating third-party platforms can help contain the virus.","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"1979 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128042732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In addressing local challenges, such as budget deficits, aging infrastructure, workforce development, opioid addiction, homelessness, and disaster preparedness
应对地方挑战，如预算赤字、基础设施老化、劳动力发展、阿片类药物成瘾、无家可归和备灾
{"title":"Crisis as Opportunity: Fostering Inclusive Public Engagement in Local Government","authors":"Ashley Labosier","doi":"10.2139/ssrn.3592973","DOIUrl":"https://doi.org/10.2139/ssrn.3592973","url":null,"abstract":"In addressing local challenges, such as budget deficits, aging infrastructure, workforce development, opioid addiction, homelessness, and disaster preparedness","PeriodicalId":369029,"journal":{"name":"PsychRN: Attitudes & Social Cognition (Topic)","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114855127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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