A perspective on psychology and economics

Rabin, Matthew

doi:10.1016/s0014-2921(01)00207-0

Cited by 927 publications

(782 citation statements)

References 3 publications

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“…An important trend in practical monetary policy is the move from indi-1 Researchers have documented many other biases in information processing (see, e.g., the surveys by Rabin, 1998 andDellaVigna, 2009), but according to DeBondt and Thaler (1995, p.389) overcon…dence is perhaps the most robust …nding in the psychology of judgment.…”

Section: Introductionmentioning

confidence: 99%

Overconfidence, monetary policy committees and chairman dominance

Claussen

Matsen

Røisland³

et al. 2012

Journal of Economic Behavior & Organization

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Monetary policy decisions are typically characterized by three features: (i) decisions are made by a committee, (ii) the committee members often disagree, and (iii) the chairman is almost never on the losing side in the vote. We show that the combination of overcon…dent policymakers and a chairman with agenda-setting rights can explain all these features. The optimal agenda-setting power to the chairman is a strictly concave function of the degree of overcon…dence. We also show that the quality of advice produced by the central bank sta¤ is higher in a ‡at organization than in a hierarchical one.

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Section: Introductionmentioning

confidence: 99%

Overconfidence, monetary policy committees and chairman dominance

Claussen

Matsen

Røisland³

et al. 2012

Journal of Economic Behavior & Organization

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“…Psychological experiments are often quite relevant to economic theory and some experiments in one discipline are inspired by experiments in the other (see Rabin, 1998;Thaler, 1991Thaler, , 1992. But besides differences in the kind of questions each discipline finds interesting, there is a methodological difference.…”

Section: Experimental Methodsologymentioning

confidence: 99%

Experimental Law and Economics

Arlen¹,

Talley²

2008

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This chapter reviews experimental economics research relevant to law and economics. The introduction includes a brief discussion of experimental methodology and a survey of the categories of economics experiments relevant to law and economics, with citations to other reviews and compilations. The bulk of the chapter reviews two series of economics experiments designed to test theoretical claims of law and economics: those relating to the Coase theorem and those relating to pre-trial bargaining and settlement. JEL classification: C90, C91, C92

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“…In this vein of tax compliance research, reciprocity means that if other taxpayers pay their due taxes, other citizens would also feel obliged to pay. And the opposite also applies: in a context where many avoid paying tax, the propensity for the individual taxpayer to do the same is greater (Rabin 1998;Fehr and Falk 2002). A valid follow-up task would be to make a distinction between copycats and those who comply because there will be more in the treasure chest to share in the society we belong to collectively.…”

Section: Research On Why We Pay Taxmentioning

confidence: 99%

Exchanges Create Relations

Larsen

2018

A Fair Share of Tax

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There are numerous explanations for why we pay tax, an important aspect being the relations, and expectations, that taxpaying is seen to create. This chapter revisits various research traditions on tax compliance and proposes four different ways in which it addresses reciprocity: tit-fortat, copy-cat, fair share and equality. Sweden, a 'modern' welfare state, has a well-esteemed tax collecting agency that has worked long and deliberately to enhance its standing in society. Despite the agency being liked, tax avoidance is also going on. This ethnography travels full circle around seemingly opposing actors on the Swedish tax arena, at the Swedish Tax Agency and among a group of tax-avoiding Swedes, listening to their stories and justifications-allowing for a thorough understanding of reciprocal relations invoked by carrying out taxation. Thus ends the forty-first stanza in Hávamál, one of the many poems in the Scandinavian Edda. Keywords

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A perspective on psychology and economics

Cited by 927 publications

References 3 publications

Overconfidence, monetary policy committees and chairman dominance

Overconfidence, monetary policy committees and chairman dominance

Experimental Law and Economics

Exchanges Create Relations

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