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Mental Accounting in a Business Cycle Model
(2018-12-17)
Motivated by the consumer behavior literature, this paper presents a new business cycle model in which consumers incur a pain of paying and neglect the opportunity costs of consumption. Although consumers maximize their ...
Pushing Through or Slacking Off? Heterogeneity in the Reaction to Rank Feedback
(2018-03-30)
This paper studies heterogeneity in the reaction to rank feedback. In a laboratory experiment, individuals take part in a series of dynamic real-effort contests with intermediate feedback. To solve the identification problem ...