Journal of Economic Psychology最新文献

We present a 12-item scale measuring the cognitive component of economic competence and document the psychometric properties of the scale. Using a data set with >12,000 secondary school students in Germany, the scale shows high discriminatory power and covers a wide range of ability levels. Analyses of ‘Differential Item Functioninǵ show no item bias across key demographic characteristics, and scores show meaningful associations with scores obtained from adjacent test instruments. Student-level correlates mirror estimates documented in earlier literature as well as results relying on a more extensive version of the scale with 31 items. The presented short scale enables researchers and practitioners to efficiently measure economic competence of youth.

The context surrounding a consumer decision, such as one’s overall budget available for purchases, can exert a strong effect on the subjective value of a product. Across three eye-tracking studies, we explore the attentional processes through which budget size influences consumers’ purchasing behavior. Higher budgets increased and sped up purchasing even when items were affordable at all budget sizes. Moreover, attention interacted with budget size to promote purchasing at higher budgets. Finally, individual differences in the magnitude of the budget effect related to attentional patterns: those whose decisions depended more on budget exhibited more budget-price transitions and less variability in search patterns compared to those whose decisions were less dependent on budget. These findings indicate that attention moderates the effect of budgets on purchasing decisions, allowing low budgets to serve as self-control devices and large budgets to generate impulse purchases.

Tax practitioners play a crucial role in the degree of taxpayers’ compliance – a role that has increased as tax systems worldwide have become more complex. However, little is known about tax authorities’ impact on taxpayers’ decisions to employ tax practitioners. Based on earlier research on motivations to employ a tax practitioner and the extended slippery slope framework of tax compliance, we conducted two studies which provide some answers. A survey study – comprising a representative sample of 500 Austrian self-employed taxpayers – revealed that financial gain is not the most important reason to employ a tax practitioner but instead the motivation to avoid problems with the tax authorities. Related to that, we also find that taxpayers’ perception of tax authorities wielding coercive power motivates them to employ tax practitioners. In the interview study with 33 self-employed taxpayers and 30 tax auditors, taxpayers indicated that they sought to avoid contact with tax officers by employing tax practitioners. This finding was supported by tax officers who reported preferring interaction with tax practitioners over direct contact with taxpayers. The two studies point to the complex relationship between taxpayers, tax authorities and tax practitioners, and allow the drawing of theoretical and practical implications.

While non-monetary reinforcement is often discussed as a promising intervention technique, systematic research on its effectiveness for the promotion of pro-environmental behavior has been scarce. This lack of research is likely due to the difficulty of studying non-monetary reinforcement within existing study designs. Here, we examined the effects of non-monetary reinforcement using a recently developed and validated pro-environmental behavior task. In two preregistered studies (total N = 997), participants could repeatedly choose to exert actual effort in exchange for donations to an environmental organization. Their choices were either followed by potentially reinforcing stimuli (e.g., words of praise superimposed on positively valenced pictures) or not. When accompanied by cheerful animal pictures, these stimuli significantly promoted pro-environmental effort expenditure in Study 2, but not in Study 1. Longer-term effects and spillover to non-reinforced behavior were also examined, but not conclusively supported. These findings illustrate the potential of the presented experimental approach for studying the effectiveness of non-monetary reinforcement in societally relevant domains.

In an online multilevel public goods experiment, we implement four treatments where we gradually increase the marginal per capita return of the global public good. First, we find evidence of an increase in the contribution to the global good (levelling-up effect). Secondly, subjects fund their higher contribution to the global good by reducing their contribution to the local good (substitution effect) rather than by increasing total contribution, i.e., the sum of their contributions to the local and the global good (marginal crowding-in effect). Moreover, we observe that total contribution increases as a consequence of the mere introduction of the global good (categorical crowding-in effect). Finally, we observe that subjects continue to contribute to both public goods even when they are dominated in terms of costs and returns.

In recent years, committee quotas have been introduced to combat the underrepresentation of women in male-stereotyped environments. However, the lack of clarity surrounding in-group preferences and gender differences in group dynamics calls into question the inclusion of women as a solution to the gender gap in labour market outcomes. In this paper, I provide experimental evidence to show: a) how the gender composition of committees affects the probability of female candidates being recruited in a hiring process; and b) how men and women behave in group dynamics as a mechanism explaining the outcome of the policy. I designed a laboratory experiment in which groups of three subjects had to jointly select two candidates from a pool of six to perform a task. Female candidates’ probability of success did not improve as the number of women in the committee increased. I found that male-majority committees were the most beneficial for female candidates. In these groups, men and women exhibited a similar level of voice and influence during deliberations, proposing both male and female candidates for recruitment. Conversely, female-majority groups were the most detrimental to female candidates. Women in female-majority groups exhibited a similar level of voice, but men, who proposed more male candidates, were more influential, which limited the contribution of women. The paper suggests that having more women in the committee does not necessarily benefit female candidates and calls for caution when it comes to designing policies for equality in the labour market.

Over the past two decades, economists have begun to incorporate evidence from neuroscience into applied economic research. While some progress has been made, the wider economics profession has yet to embrace the new field of “neuroeconomics.” I argue here that a broad reconciliation of emerging evidence from neuroscience with conventional economic decision theory can be achieved by emphasizing the critical role of neuroendocrine signaling molecules and their receptors. Many of these molecules are amenable to measurement and manipulation in laboratory settings, and most have – when viewed in light of their natural history – a parsimonious interpretation as representing what economists refer to as subjective beliefs.

Social media use plays an important role in shaping individuals’ social attitudes and economic behaviours. One of the first well-known examples of social media campaigns is the Ice Bucket Challenge (IBC), a charity campaign that went viral on social media networks in August 2014, aiming to collect money for research on amyotrophic lateral sclerosis (ALS). We rely on UK longitudinal data to investigate the causal impact of the Ice Bucket Challenge on pro-social behaviours. In detail, this study shows that having been exposed to the IBC increases the probability of donating money, and it also increases the amount of money donated among those who donate at most £100. We also find that exposure to the IBC has increased the probability of volunteering and the level of interpersonal trust. However, all these results, except for the result on the intensive margins of donations, are of short duration and are limited to less than one year. This supports the prevalent consensus that social media campaigns may have only short-term effects.

Saving disposition, the tendency to save rather than consume, has been found to be associated with economic outcomes. People lacking the disposition to save are more likely to experience financial distress. This association could be driven by other economic factors, behavioral traits, or even genetic effects. Using a sample of 3,920 American twins, we develop scales to measure saving disposition and financial distress. We find genetic influences on both traits, but also a large effect of the rearing family environment on saving disposition. We estimate that 44% of the covariance between the two traits is due to genetic effects. Saving disposition remains strongly associated with lower financial distress, even after controlling for family income, cognitive ability, and personality traits. The association persists within families and monozygotic twin pairs; the twin who saves more tends to be the twin who experiences less financial distress. This result suggest that there is a direct association between saving disposition and financial distress, although the direction of causation remains unclear.

Recent studies have illustrated that individuals with higher numeracy are more likely to make adaptive choices than individuals with lower numeracy. Highly numerate individuals can consistently make normatively superior choices by maximizing expected value (EV) in meaningful choice problems (high-payoff condition). However, in trivial problems (low-payoff condition), they can also adaptively change their strategy to make good enough choices and not follow a normatively superior strategy. Upon inspection of choice problems used in earlier studies, it was revealed that payoff was not the only varying factor between the two payoff conditions. Therefore, it is unclear whether payoff conditions alone can provide sufficient context for adaptive modulation in decision strategy. In two pre-registered studies (N = 343), we tested numerate individuals’ adaptiveness under high- and low-payoff conditions addressing the limitations of earlier studies. Results revealed that the presence of two payoff conditions together did not initiate adaptive strategy selection, regardless of participants’ numeracy. Instead, numerate individuals, compared to less numerate individuals, consistently made more EV-consistent choices in both payoff conditions. We identified that the change in EV consistency across payoff conditions was influenced more by the absolute difference than the relative difference in the expected reward.