Year: 2019
Type: dataset
Abstract: Many important economic outcomes result from the cumulative effects of smaller choices and events, so the best outcomes require, minimally, accounting for total outcomes so far.We formally show that narrow bracketing -the neglect of such accounting -is unidentified if and only if the willingness to pay for an option is constant across all single choice sets, unifying, extending, and generalizing prior results.We empirically document narrow bracketing in work choices in a pre-registered experiment on Amazon Mechanical Turk: bracketing due to separate or combined choice presentations changes average reservation wages by 13-28%.
Source: AEA Randomized Controlled Trials
DOI: 10.1257/rct.3412
Authors: Francesco Fallucchi, Marc Kaufmann
Institutions: University of Parma, Central European University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
Award: G8321248741
OpenAlex ID: W4242467042