During the last decade knowledge about human behavior from psychology and sociology has enhanced field of economics education. By now research recognizes cognitive skills (as measured by achievement tests) soft (personality traits not adequately as equally important drivers later economic outcomes, are seen multi-dimensional rather than one-dimensional. Explicitly accounting for often implies departing standard model integrating concepts studied in behavioral experimental economics, such...

Abstract Goals are an important motivator. But little is known about why and how people set them. We address this issue in a model based on two stylized facts. First, goals serve as reference points for performance. Second, present‐biased preferences create self‐control problems. show the power limits of self‐regulation through goals. increase individual's motivation—but only up to certain point. Furthermore, they painful self‐disciplining devices. Thus, greater problems may result tougher...

ABSTRACT Little is known about the demand side of paternalism. We investigate attitudes towards paternalism among Danish students. The main question whether for related to self‐control, either because people with self‐control problems seek commitment devices overcome these problems, or good want those who lack it change their behaviours. find no evidence linking weak forms (e.g., nudges information health consequences). But respondents are significantly more favourable strong restricting...

It is a well-known phenomenon that people have difficulties in assessing their ability correctly. Often they overestimate (relative) abilities. We conduct an experiment to test whether the self-assessment of individuals improves when receive feedback and there are incentives make correct self-assessment. investigate subjects' reactions several subsequent rounds see not only if, but also how react. Our main finding influences decisions can improve overall The effects, however, depend on kind...

During the last decade knowledge about human behavior from psychology and sociology has enhanced field of economics education. By now research recognizes cognitive skills (as measured by achievement tests) soft (personality traits not adequately as equally important drivers later economic outcomes, are seen multi-dimensional rather than one-dimensional. Explicitly accounting for often implies departing standard model integrating concepts studied in behavioral experimental economics, such...

Abstract Behavior often deviates from standard predictions because individuals evaluate the consequences of choices separately (i.e., narrow bracketing) rather than jointly. The main existing theories classify different bracketing phenomena as either (i) choice errors caused by cognitive limitations, or (ii) strategies to achieve self‐control. Using an online experiment, we find consistent evidence for theory (ii): mental budgets and goals are related each other measures self‐control, but...

We design a game-based online intervention to foster awareness of food safety and risk-reducing behavior among consumers. 1087 participants, aged 20–50 years, additional 886 up 89 from the UK Norway were assigned (i) control condition with pre- post-survey measures beliefs behaviors one-week spacing, or (ii) in addition exposed brief information video, (iii) played an game. Both types improved similar extent relative control. But only game interventions significantly self-reported behavior,...

We evaluate school-based, intensive learning camps for pupils assessed 'not ready' post-compulsory education, using a stratified cluster randomized trial involving 15,559 in 264 schools Denmark. Next to Danish and mathematics, the main variant targets non-cognitive skills. The alternative uses this time more training math. find some weak evidence positive short-run effects standardized test score math (effect sizes 0.07–0.17) but not Danish. of long-run on final exams grade 9 enrolment...

We present an experiment on the immediate and lasting effects of reminder nudges in a complex environment. In study, 1,542 subjects face setting where, within brief time frame, they have to pay attention perform multiple actions computer game. The investigates i) effect reminders reminded their spillovers nonreminded actions; ii) between when number is increased; iii) intertemporal from having been exposed after are withdrawn. Our findings reveal, first, that positive overall performed. It...

We show that inefficient job assignments arise in organizations even if there is full information about employees’ types and complete contracts are possible. Our model also provides a new perspective on the Peter Principle: output of an employee who promoted into for which he not well suited need decline postpromotion, because pushed to exert more effort. Although promotions desirable most employees, they make least able hierarchy level worse off: them earnings increase only work harder...

Goals are an important source of motivation. But little is known about why and how people set them. We address these questions in a model based on two stylized facts from psychology behavioral economics: i) serve as reference points for performance. ii) Present-biased preferences create self-control problems. show goals permit self-regulation, but also that they painful self-disciplining devices. Greater problems therefore lead to stronger self-regulation through only up certain point. For...

We ask how the incentives of an agent are affected by information management system that lets receive about performance a colleague before (“transparent firm”) rather than after he provides effort (“nontransparent firm”). Transparency is detrimental for if on relative impact agent’s his success probability. The findings imply firms in which comparisons between employees play minor role compensation transparent. Firms they major sometimes choose to be nontransparent despite flexibility gains...

To study the effects of reminder nudges in complex environments, we apply a novel experimental approach based on computer game which decision makers have to pay attention and perform multiple actions within short period time. The set-up allows us, first, test effect reminders both reminded non-reminded thus observe whether (positive or negative) spillovers. Second, investigate spillovers between by testing scaling up number actions. Third, intertemporal investigating having been exposed...

Santander Art and Culture Law Review » 2016 2/2016 (2) The Protection of Cultural Property: Recent Developments in Germany the Context New EU 1970 UNESCO Convention A

It is a puzzle why people often evaluate consequences of choices separately (narrow bracketing) rather than jointly (broad bracketing). We study the hypothesis that present-biased individual, who faces two tasks, may bracket his goals narrowly for motivational reasons. Goals motivate because they serve as reference points make substandard performance psychologically painful. A broad goal allows high in one task to compensate low other. This partially insures against risk falling short ones'...

Inefficient job assignments are usually explained with incomplete information about employees' abilities or contractual imperfections. We show that inefficient arise even full types and complete contracts. Our further results provide a new perspective on the Peter Principle: The output of an employee who is not well suited for need decline post promotion, because he pushed to exert more effort. While promotions desirable most employees, they make least able in hierarchy level worse off:...