|
on Experimental Economics |
| By: | Pascal Nieder; Sven Arne Simon |
| Abstract: | Compliance with complex regulatory requirements can be challenging. We study why and how complexity affects non-compliance in terms of incorrect reporting. Our novel experimental design isolates two distinct complexity effects: an increase in honest mistakes and a substantial shift toward self-serving dishonesty. We identify two mechanisms for this dishonesty shift. First, individuals with social image concerns systematically take advantage of plausible deniability. Second, we document an unexplored form of dishonesty: besides conscious lies, individuals use fraudulent shortcuts in response to complex cheating opportunities. |
| Keywords: | dishonest behavior, complexity, lying, non-compliance, experiment |
| JEL: | C91 D91 H26 K42 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12692 |
| By: | Julie Pernaudet; John List; Arnoldo Müller-Molina; Majid Ahmadi; Imrul Huda; Ajay Sailopal; Dana Suskind |
| Abstract: | Parents play a critical role in shaping children's skills during the first years of life. Yet, identifying the contributors to richer learning environments remains difficult due to various unobservable factors. In this paper, we combine field experiments with AI to explore new acoustic features of parental speech. Specifically, we develop a signal processing model that uses more than 600 hours of recorded parent-child interactions combined with assessment data from two home-visiting experiments conducted in the Chicagoland area to identify features of parental speech that map into children's skills. Our two experiments consist of the same intervention helping parents provide nurturing interactions to their child. We exploit the experimental and natural variation in our data to explore two causal channels and one potential moderator. First, our intervention improves parental speech consistently across the two studies, as measured by acoustic features that are predictive of higher socioemotional skills and adult-child conversational turns. Further, we find that it also increases children's language skills in both experiments, as well as socioemotional skills in the second experiment. Interestingly, our heterogeneity analyses reveal that some of the interventions' impacts vary by socioeconomic groups, with patterns across the two experiments suggesting that the mechanisms are context-dependent. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:feb:framed:00836 |
| By: | John List |
| Abstract: | Recent enthusiasm for field experiments, and especially for natural field experiments (NFEs), in which subjects go about their daily activities unaware that any study is taking place, has sometimes been read as a verdict against the laboratory. I argue that such a verdict is wrong. Through the lens of a simple rational-choice model, I show that the four standard experimental designs (laboratory, artefactual field experiment (AFE), framed field experiment (FFE), and NFE) are comparative-static restrictions of one maximization problem, each identifying a parameter the others cannot. The model reveals that each design type has distinctive strengths and weaknesses across various dimensions of knowledge creation, including the enforcement of the conditions for causal identification, the faithfulness of the experimental environment to the theory being tested, the identification of economic primitives via theoretical structure, and the ethics of studying human subjects. On each of the dimensions, the four design types are complements rather than rivals. Nowhere is this complementarity more evident than between the two extremes. The lab enforces the conditions for causal identification that the NFE must inherit from the market; the NFE recovers the parameter that governs behaviour in the wild, free of the selection, scrutiny, and environmental distortions the lab cannot escape. A research programme using all four designs together demonstrates something no single design can produce. The framework further accommodates the recent rise of online and survey experiments as natural extensions. Our discipline’s recent drift away from laboratory evidence is leaving an important structural gap that natural field experiments, however well conceived, cannot fill. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:feb:natura:00835 |
| By: | Galmarini, Umberto; Gamba, Astrid (Insubria University); Martínez-Macías, Ibai (University of The Basque COuntry (UPV/EHU)) |
| Abstract: | Do individuals become more generous after harming others, or less generous after doing the right thing? We study whether moral behavior spills over across sequential decisions through moral accounting: individuals may offset prior moral debts through subsequent prosocial behavior (moral cleansing) or draw on prior moral credits to justify lower generosity (moral licensing). In an online experiment, participants first make a fair or unfair allocation in a Dictator Minigame. They then learn whether the Receiver’s payoff was determined by their own choice or by chance, and make an unanticipated decision about whether to donate part of their earnings to a charity. By varying responsibility for realized social outcomes, the design generates different moral states associated with the same first-stage choice, which can trigger compensatory behavior in the subsequent donation decision. We find a sharp asymmetry. After choosing the fair allocation, being responsible for the Receiver’s favorable outcome significantly reduces subsequent donations, consistent with moral licensing. After choosing the unfair allocation, responsibility has no average effect on giving, but this null effect conceals substantial heterogeneity in individual responses. Overall, the results show that responsibility for outcomes can shape later prosocial behavior, but does so asymmetrically across good and bad deeds. |
| Date: | 2026–05–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:g7tuh_v2 |
| By: | Martin Eckhoff Andresen; Manudeep Bhuller; Alfred L{\o}vgren |
| Abstract: | This paper studies how workers' beliefs about pay shape the tradeoffs between pay and workplace amenities. We design a multi-stage incentivized survey experiment that combines hypothetical choice experiments with elicited beliefs about starting salaries in real jobs and randomly varies the provision of explicit pay information. Although stated preferences imply sizable willingness to pay for amenities consistent with prior literature, baseline beliefs about salaries in real jobs are systematically biased along two margins: respondents under-predict starting salaries by 18% and expect higher-amenity jobs to pay more, substantially over-predicting the amenity-pay gradient. Exposure to pay information raises mean pay beliefs for similar jobs by 4% and reduces belief dispersion by 15%, but does not alter the strong positive association between perceived pay and advertised amenities, leaving the amenity-pay tradeoffs in stated choices essentially unchanged. While workers have strong preferences for workplace amenities, the tradeoffs they perceive deviate sharply from those present under full information. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.02503 |
| By: | Julie Pernaudet; John A. List; Arnoldo Müller-Molina; Majid Ahmadi; Imrul Huda; Ajay Sailopal; Dana Suskind |
| Abstract: | Parents play a critical role in shaping children’s skills during the first years of life. Yet, identifying the contributors to richer learning environments remains difficult due to various unobservable factors. In this paper, we combine field experiments with AI to explore new acoustic features of parental speech. Specifically, we develop a signal processing model that uses more than 600 hours of recorded parent-child interactions combined with assessment data from two home-visiting experiments conducted in the Chicagoland area to identify features of parental speech that map into children’s skills. Our two experiments consist of the same intervention helping parents provide nurturing interactions to their child. We exploit the experimental and natural variation in our data to explore two causal channels and one potential moderator. First, our intervention improves parental speech consistently across the two studies, as measured by acoustic features that are predictive of higher socioemotional skills and adult-child conversational turns. Further, we find that it also increases children’s language skills in both experiments, as well as socioemotional skills in the second experiment. Interestingly, our heterogeneity analyses reveal that some of the interventions’ impacts vary by socioeconomic groups, with patterns across the two experiments suggesting that the mechanisms are context-dependent. |
| JEL: | C45 C93 I24 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35302 |
| By: | Gorodnichenko, Yuriy (University of California, Berkeley); Sologoub, Ilona (VoxUkraine); Fedyk, Yuriy (AI for Good Foundation) |
| Abstract: | Using a representative sample of more than 7, 000 Ukrainians, we study how information treatments affect corruption perceptions and prosocial behavior. We document a large gap between perceived and experienced corruption: while most respondents view corruption as widespread and a major national problem, far fewer report direct exposure. Through a randomized controlled trial, we find that informing citizens about successful prosecutions raises perceived government willingness to fight corruption but does not reduce overall corruption perceptions. Communicating the scale of corruption alone generates no significant effects. Information treatments have little effect on hypothetical or actual donations and volunteering, suggesting a limited pass-through from changed beliefs to prosocial action. Thus, while information interventions can strengthen institutional credibility, they alone are not enough to tangibly improve civic engagement or reduce perceptions of corruption. |
| Keywords: | corruption, beliefs, RCT |
| JEL: | D73 O17 O52 P2 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18663 |
| By: | Ludolph, Melina; Nghiem, Giang; Tonzer, Lena |
| Abstract: | We examine whether combining factual information on inflation levels and forecasts with a narrative can persistently shape consumers' inflation expectations. In a preregistered randomized controlled trial with a representative sample of 3, 000 German consumers, participants received either numerical or textual information about inflation rates, with or without an accompanying narrative. All treatments immediately lower inflation expectations, with numerical information eliciting stronger adjustments. Adding a narrative produces no additional immediate effect, confirming that it conveys no new information. However, only the combination of numerical information with a narrative yields a lasting reduction in inflation expectations and forecast uncertainty still observable after four weeks. Our results suggest that combining precise information with a narrative enhances information retention and can lead to more persistent shifts in consumers' beliefs. The effects are strongest when respondents perceive the narrative as relatable and emotionally engaging, and among those with low financial literacy and limited knowledge of inflation. |
| Keywords: | Inflation expectations; central bank communication; narratives |
| JEL: | D84 D91 E31 E58 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:han:dpaper:dp-748 |
| By: | Michalis Drouvelis; Nobuyuki Hanaki; Yuta Shimodaira |
| Abstract: | When are actors deterred from exploiting those over whom they hold unilateral power? We study this question in a laboratory experiment using a 2×2 design that extends the power-to-take game, varying whether the proposer can give as well as take, and whether the responder can destroy the proposer’s endowment at no cost (costless retaliation). Either variation alone leaves proposer behaviour unchanged, even though costless retaliation substantially increases punishment. Only when giving is feasible and retaliation is costless do proposers take significantly less, with average take rates falling from 60% to below 40%. Our findings show how institutional structures—through available action sets and punishment technologies—jointly determine whether exploitation is deterred. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:dpr:wpaper:1262rr |
| By: | Goldstein, Daniel A. N. (University of Oslo); Wig, Tore |
| Abstract: | Do moral norms influence citizens' tolerance of anti-system behavior by politicians? Although moral norms are often invoked as guardrails, their measurement and causal influence in politics remain understudied. We theorize the link between moral norms, personal judgments, and attitudinal consequences and test our theory in a pre-registered survey experiment with financial incentives. Respondents faced moral trade-offs concerning personal scandals, political violence, corruption, and anti-democratic actions. Using a second-order approach to elicit beliefs about what others consider morally wrong, we find that norms against democratic violations are descriptively weaker than norms against scandal and corruption; both lag behind norms against violence. Causal evidence shows that norms primarily shift judgments when respondents face large discrepancies from their initial perceived norm and have strong conformity motives. However, this largely does not translate into attitudinal shifts. The findings shed light on the concept of moral norms and detail their consequences and limitations for politics. |
| Date: | 2026–06–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:nwrtz_v1 |
| By: | Pol Campos Mercade (Department of Economics, Lund University); Armando N. Meier (Faculty of Business and Economics, University of Basel); Stephan Meier (Columbia Business School, Columbia University); Devin G. Pope (Booth School of Business, University of Chicago); Florian H. Schneider (Department of Economics, University of Copenhagen); Erik Wengstroem (Department of Economics, Lund University) |
| Abstract: | Can monetary incentives improve health behaviors in the long run, and do commonly used surrogate outcomes capture these effects? We study these questions in the context of vaccination using a large-scale eld experiment. The experiment combines commonly used surrogates|vaccination intentions, intermediate behavioral proxies, and short-run vaccination|with long-run administrative vaccination records. We first document that incentives increase vaccination rates in the long run: guaranteed $20 incentives raise COVID-19 booster uptake by 9 percentage points. Lottery-based incentives also increase long-run uptake, while prosocial incentives primarily accelerate vaccination. Second, using surrogacy methods, we study whether surrogates can predict long-run impacts. Although the surrogates are strongly correlated with eventual vaccination, the assumptions required for surrogacy methods are often violated, and they do not accurately predict long-run impacts. Our ndings highlight both the ability of incentives to change behavior and the importance of measuring long-run outcomes rather than relying solely on surrogates. |
| Keywords: | incentives, health behavior, vaccination, surrogates |
| JEL: | C93 D01 D62 I12 I18 |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:kud:kucebi:2613 |
| By: | Brosch, Hanna (Technical University of Munich); Grewenig, Elisabeth (KfW); Lergetporer, Philipp (Technical University of Munich); Werner, Katharina (Pforzheim University); Zeidler, Helen (Technical University of Munich) |
| Abstract: | Gender norms about parental labor supply are central to explaining persistent gender inequalities in the labor market, yet their causal determinants remain poorly understood. We examine whether people’s gender attitudes are driven by mothers’ and fathers’ earnings, which may shape views about the efficient allocation of paid work and care. In a large-scale representative vignette experiment in Germany (N > 10, 000), we randomly vary pre-childbirth earnings and measure whether respondents recommend that the mother (father) stay home with the child while the father (mother) works full-time. Without specifying earnings, 90% recommend that the mother stay home. This share remains high when we specify that the mother earns less (93%). When she earns more, the share drops sharply to 47%, yet nearly half of respondents still recommend that the mother stay home. This asymmetric response rejects a purely income-based explanation of gender norms. Thus, economic circumstances shape gender attitudes, but deeply rooted norms persist even when they conflict with financial incentives. |
| Keywords: | gender norms, labor supply, gender, survey experiment |
| JEL: | C90 D13 J16 J22 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18661 |
| By: | Beuermann, Diether; Bottan, Nicolas L.; Hoffmann, Bridget; Khadan, Jeetendra; Vera-Cossio, Diego A. |
| Abstract: | We study how expert forecasts about inflation and nominal exchange rates affect households inflation perceptions, exchange rate beliefs, and later durable-goods holdings in a small open economy. Using a randomized information experiment in Suriname, we provide households with expert forecasts about future inflation and depreciation. At baseline, households substantially underestimate both inflation and depreciation, and the information treatments generate large upward revisions in expectations. Linking the experiment to follow-up data two years later, we find lower ownership of tradable durable goods among households exposed to macroeconomic forecasts, particularly consumer electronics. Results suggest that households interpret macroeconomic forecasts as informative about broader economic conditions rather than only about relative prices. |
| JEL: | D83 D90 E71 F31 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:14620 |
| By: | Patrick Agte; Daniel R. Morales; Christopher Neilson; Sebastián Otero; Gautam Rao |
| Abstract: | Scaling up effective policies often requires the attention of frontline bureaucrats with many competing responsibilities. Even when policymakers adopt effective programs, implementation may not follow. In a nationwide experiment in the Dominican Republic, we test interventions to increase school principals' implementation of an educational program proven effective in a previous RCT. Only 37% of control schools verifiably implemented the intervention when ordered to by the Ministry of Education, compared with 83% in the original trial. Implementation was no higher among schools that previously implemented the program in the RCT, suggesting that fixed costs of adoption do not explain non-adoption. We find precise null effects of sharing research evidence, providing modest financial incentives, or offering implementation assistance to principals. In contrast, additional reminder calls increased implementation by 20 percentage points. A second experiment targeting a different mandated program yields the same pattern: reminders produce large effects, while monitoring messages have smaller effects. Our findings point to limited attention among bureaucrats as an important barrier to scaling policies. |
| JEL: | D9 O1 O15 O20 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35291 |
| By: | Lorko, Matej; Servátka, Maroš; Slonim, Robert; Ďuriník, Michal |
| Abstract: | Many volunteer markets, and most prominently markets for substances of human origin, feature dynamic coordination problems where volunteering today can temporarily restrict volunteering later. We show that, unsurprisingly, these restrictions reduce market surplus compared to no restrictions. We examine whether providing volunteers with demand or supply information improves market surplus without and with intertemporal restrictions. We show theoretically that, without restrictions, providing demand or supply information increases market surplus, while with restrictions, providing supply rather than demand information causes higher market surplus. Experimental results support most predictions and further show that supply information especially improves market surplus when intertemporal restrictions exist. Overall, comparative static inferences in an environment without intertemporal restrictions do not carry over to an environment with restrictions. Thus, policies based on analyses of static conditions will not necessarily be effective in situations featuring dynamic spillovers. |
| Keywords: | Volunteering, Dynamic Restrictions, Intertemporal Coordination, Experiment |
| JEL: | C91 D47 D64 D8 |
| Date: | 2026–05–21 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129221 |
| By: | Ursel Baumann; Zoë B. Cullen; Ester Faia; Annalisa Ferrando; Ricardo Perez-Truglia; Judit Rariga |
| Abstract: | How well does innovation diffuse across geographic boundaries? To shed light on this question, we present a large-scale field experiment involving 3, 300 firms across twelve European Union countries. We elicit firms' perceptions of the share of similar firms in their own country that had invested in artificial intelligence (AI), as well as the corresponding share among similar firms in Germany, France, and Italy. We randomly provide half of the sample with accurate information about both domestic and foreign AI investment. We show that firms substantially underestimate competitors' current AI investment, both domestically and abroad, and that they update their expectations about competitors' future AI investment in response to the information treatment. The treatment also causes a statistically significant increase in firms' own expected AI investment rate (p-value |
| JEL: | C93 D22 L21 O33 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35314 |
| By: | Lorko, Matej; Servátka, Maroš; Slonim, Robert |
| Abstract: | Many charitable organizations invite potential donors to first join a registry before soliciting donations from those who have joined. Behavioral theories suggest that the choice architecture of registry enrollment can influence not just participation but also future giving. Some approaches may be relatively more likely to increase the likelihood of joining but reduce the subsequent propensity to donate and the amount donated, while other methods might have the opposite effect. We experimentally test four behavioral theories – overhead aversion, status quo bias, reciprocity, and moral consistency – in a two-stage donor engagement model. We find that (1) disclosing registry-related overhead costs decreases donations, (2) changing the default enrollment method (op-in vs. opt-out) does not affect enrollment nor donations, (3) targeting reciprocity by offering a small gift conditional on joining the registry boosts enrollment but not donations, and (4) targeting moral consistency by requesting an upfront contribution does not decrease the likelihood of joining the registry and can improve charity returns. Our findings emphasize how subtle differences in the design of early-stage donor approaches can influence longer-term fundraising outcomes. |
| Keywords: | charitable giving, donor registry, overhead aversion, status quo bias, reciprocity, moral consistency, experiment |
| JEL: | C91 D47 D64 D8 |
| Date: | 2026–05–21 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129222 |
| By: | Pu, Zhizhong (Harvard Business School); Abel, Martin (Bowdoin College); Carpenter, Jeffrey (Middlebury College) |
| Abstract: | We study how grading policies shape employers' interpretations of labor market signals embedded in academic credentials. In our experiment, hiring managers observe letter grades assigned to math tests taken by job candidates and make wage offers to match their beliefs about each candidate's underlying ability. We exogenously vary the coarseness of the grading scheme while holding candidate performance constant. As predicted, coarser grading leads managers to place less weight on grade signals and more on prior beliefs, reducing match efficiency. Departing from predictions, managers extract systematically higher signals from inflated grades, behaving as if candidates with As represent a positively selected pool. Furthermore, managers place greater decision weight on inflated As than on compressed Bs, creating a compounding wage advantage for candidates even though grade inflation is common knowledge. Considering the broader implications of our results, the shift toward prior-based evaluation under coarser grading falls disproportionately on female candidates, contributing to a wider gender wage gap among managers with gendered priors. |
| Keywords: | grade inflation, signaling, hiring experiment, gender wage gap, statistical discrimination |
| JEL: | J31 J71 D83 C91 I24 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18654 |
| By: | Hansen, Frederik Godt (Aarhus University); Halling, Aske (Aarhus University) |
| Abstract: | To access public services, citizens often navigate complex administrative requirements. These demands are introduced to ensure program integrity and maintain public support for welfare policies, yet they may create barriers for those in need. While prior studies on policy feedback and administrative burden show that burdensome encounters can reduce trust among welfare recipients, less is known about how the general public reacts to compliance demands. Stringent requirements may signal that programs are protected against fraud, potentially increasing perceptions of fairness and trust among non-recipients. We further hypothesize that compliance demands have positive effects on these outcomes when: 1) individuals are non-recipients rather than recipients of welfare services, and 2) the welfare recipient is perceived as undeserving. To test these hypotheses, we conducted a pre-registered vignette survey experiment in Denmark with a sample of the general public (N = 1, 624) and welfare recipients (N = 409). We find that stringent compliance demands increase perceptions of fairness but do not affect trust in government among the general public. We find no support for the moderation hypotheses. Our findings challenge prevailing understandings of administrative burden, showing that stricter requirements can enhance perceived fairness without undermining trust—regardless of welfare experience and deservingness perceptions. |
| Date: | 2026–05–26 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:ktb2v_v1 |
| By: | Mattia Adamo; Michele Cantarella |
| Abstract: | Do workers always work more for more? We investigate how intertemporal and uncompensated labor supply decisions change across observational and experimental windows, within the same workers. Combining a real-effort emoji-counting experiment on Prolific with observational data from platform administrative records, self-reported expectations and recalls, and smartphone-based screen-time logs, we find that expectations, and how easily accessible these are, play a central role in determining which kind of elasticities are observed. Uncompensated margins, in fact, diverge across windows and converge towards intertemporal elasticities in the observational window, where expectations lose power and income effects disappear. Similarly, intertemporal responses get loss-averse when expectations are more distant: wage losses retain an elastic effect while gains are rapidly discounted. Workers' behavior is thus simultaneously neoclassical and reference-dependent, as the type of response is largely determined by how wage changes are framed with reference to expectations or previous realizations. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.29832 |
| By: | Arthur Attema (Erasmus University Rotterdam); Olivier L’haridon (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Gijs van de Kuilen (Tilburg University [Netherlands]) |
| Abstract: | This study investigates the temporal and contextual stability of social risk preferences across health and wealth, focusing on both gains and losses. Using a large representative Dutch panel, we replicated the experimental design of Attema et al. (2023) which elicited social risk preferences through allocation decisions involving two anonymous recipients under risk. The design allows us to distinguish three dimensions of preferences: risk preferences, inequality aversion, and social risk preferences arising from trade-offs between risk and inequality, corresponding to utilitarian, ex-ante, and ex-post perspectives on social welfare. At the aggregate level, the main patterns documented in the original study are largely replicated: inequality aversion is prevalent and risk aversion is weaker in the loss domain than in the gain domain. At the individual level, however, stability is more limited. Test-retest correlations are positive but modest, and the proportion of identical choices across waves varies across domains and framings. Parametric estimations further reveal substantial heterogeneity in social risk preferences. A latent-class analysis identifies utilitarian preferences as the largest group, followed by ex-post and exante perspectives. Overall, the results highlight the coexistence of persistence, contextual effects, and heterogeneity in social risk preferences |
| Keywords: | social risk, risk apportionment, inequality aversion, ex-post social welfare, ex-ante social welfare |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05632442 |
| By: | Peter Bergman; Nat Chowanajin |
| Abstract: | We conduct a meta-analysis of 82 randomized controlled trials across more than 20 countries to estimate the effects of low-cost, remote parental engagement interventions delivered through text messages, phone calls, and apps. We estimate a joint likelihood function that incorporates both written studies and unwritten studies identified through trial registries, funder records, research labs, evidence clearinghouses, and other sources. By also recording sample sizes for unwritten studies, the model estimates the distribution of standard errors, identifies write-up probabilities conditional on significance, and characterizes the file drawer by estimating effect distributions for written and unwritten studies. Bias-corrected effects are 0.05 SD for test scores, 0.07 SD for grades, 0.05 SD for attendance, and 0.03 SD for enrollment. In the best-identified domain, test scores, statistically insignificant results are still written up at high rates. We also find that larger studies tend to estimate smaller latent effects, which could indicate that true effects are correlated with study precision, violating a common meta-analysis assumption. In smaller-sample domains, our approach helps identify selection probabilities by anchoring the absolute write-up rates. Finally, we estimate the value of additional RCTs to inform adoption decisions. Any single study estimate is unlikely to dissuade adoption because parent interventions have high marginal value of public funds. Instead, future research is most valuable when it can explain heterogeneity across settings. |
| JEL: | H43 I20 I21 I24 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35299 |
| By: | Bharti, Nitin (University of Western Australia); Malik, Samreen (New York University, Abu Dhabi); Mukhopadhyay, Abhiroop (Indian Statistical Institute); Prakash, Nishith (Northeastern University) |
| Abstract: | Despite near-universal school enrollment across many developing economies, the provision of quality education that cultivates lifelong learning and the capacity to apply knowledge in novel circumstances remains elusive. We conduct a cluster-randomized controlled trial in 132 public schools in Uttar Pradesh, India, to evaluate a guided, discovery-based science pedagogy at two intensity levels: a high-intensity Mobile Science Lab (MSL) and a lower-intensity Lab on Bike (LoB). MSL improves motivational beliefs and self-confidence by 0.15--0.18 standard deviations, reduces perceived barriers to education by 0.23 standard deviations, raises engagement by 0.17--0.22 standard deviations, and increases standardized test scores by 0.22--0.34 standard deviations across all subjects. LoB produces limited average effects, with gains concentrated among students completing all sessions. These findings demonstrate that pedagogical design and delivery intensity are critical determinants of multidimensional human capital formation, and that discovery-based pedagogy can shift motivational beliefs, engagement, and achievement in low-capacity public school systems. |
| Keywords: | Experiential Pedagogy, Curiosity, Student Engagement, Randomized Controlled Trial, Human Capital, India |
| JEL: | C93 D83 I21 I24 O15 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18677 |
| By: | Chensong Huang; Changyu Chen; Chenwei Lin; Hanjia Lyu; Xian Xu; Jiebo Luo |
| Abstract: | LLMs can appear cautious in risk decision-making tasks, yet cautious-looking outputs do not necessarily indicate alignment with human decision-making mechanisms. We investigate this distinction using the St. Petersburg game as a controlled testbed, a classical paradox in which the expected payoff is infinite, yet humans typically report low, finite willingness to pay. We evaluate 28 LLMs with a structured prompt suite that includes the original game; controlled decision variants that perturb truncation, repeated play, numeric endowment, and occupational identity; a human-perspective prompt that asks models to reason as human decision makers; and paired comparisons between base models and their instruction-tuned counterparts. In the original game, most models generate finite bids, creating the appearance of human-like risk behavior. However, this outcome-level resemblance masks substantial mechanism-level differences. The controlled variants reveal that rather than maintaining human-like behavior seen in the original game, models often shift to conditionally and computationally rational behavior. Human-cue prompting and instruction tuning often lower bids and reduce some visible pathologies, but most mechanism-level response patterns remain largely unchanged. These findings show that behavioral alignment in risk decision-making can be surface-level: LLMs may produce human-like risk decisions without exhibiting human-consistent mechanisms. High-stakes evaluations of LLM decision-making should therefore move beyond outcome similarity and examine whether the alignment is supported by mechanism-level consistency. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.04978 |
| By: | Dusel, Sara; von Keyserlingk, Marina A. G.; Wieck, Christine |
| Abstract: | Despite a plethora of experiments on animals’ preferences for different resources, elicited through animals’ choices and willingness to work, the insights gained from this body of work remain largely unexploited in economics. Non-anthropocentric cost-benefit analysis (CBA) may fill this gap given that it attempts to evaluate impacts on animals using data describing the animals’ own perspective. However, economic frameworks that have used animal preference data to make inferences on animals’ monetary willingness to pay (WTP) remain limited and leave important conceptual issues unaddressed. The aim of this conceptual study is to explore novel pathways on how experimental findings describing animals’ preferences can be used for making inferences on animals’ monetary WTP in CBA. In an innovative approach, we use empirical insights, captured through an extensive literature review of animal experiments, as the main input for a process of conceptual reflection in economics. Framed within our assumptions, we present three main results: two novel concepts of farm animals’ WTP, the first based on published animal experiments and the second calling for refined experimental designs. Third, we suggest some refinements to the existing concepts of animals’ WTP. This work provides novel approaches to integrating animals’ WTP into CBA that, when adopted, would allow for greater economic representation of animal welfare into policy evaluations. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026–06–10 |
| URL: | https://d.repec.org/n?u=RePEc:ags:uhgewp:402760 |
| By: | Zhuopeng Xie; Mohsen Ramezani; David Levinson (TransportLab, School of Civil Engineering, University of Sydney) |
| Abstract: | Keywords: platooning longitudinal dynamics traffic flow theory traffic simulation autonomous driving This research investigates platoon formation and retention in various traffic conditions using five well-known car-following models, implemented as controllers on reduced-scale mobile robots (RSMRs). Our study moves beyond traditional simulations by directly applying these controllers in a controlled physical environment to observe and measure the dynamic interactions within a platoon of RSMRs. We adapted the Gazis-Herman-Rothery (GHR) model, Gipps model, intelligent driver model (IDM), proportional-integral-derivative (PID) model, and adaptive cruise control (ACC) model into controllers. Experiments were designed to assess controller performance across steady-flow, congested, and stop-and-go traffic conditions, with a preliminary scaling test to support comparison with full-scale vehicles. Overall, the IDM-inspired controller achieved the best safety-efficiency balance, with compact platooning and the smallest speed fluctuations, while ACC was typically second-best; PID and Gipps showed larger oscillations and gaps, and GHR led to collisions. The results also demonstrate noticeable differences between physical and simulation experiments, highlighting the necessity of studying platooning in a physical environment. The fundamental diagram analysis confirms that theoretical and experimental results are generally consistent, reinforcing the usefulness of RSMRs in studying traffic dynamics and providing reproducible baselines for controller evaluation. ⋆ This research was partially funded by the Australian Research Council (ARC) Discovery Project DP220100882. ∗ Corresponding author zhuopeng.xie@sydney.edu.au (Z. Xie); mohsen.ramezani@sydney.edu.au (M. Ramezani); david.levinson@sydney.edu.au (D. Levinson) ORCID (s): Zhuopeng Xie et al.: Preprint submitted to Elsevier Page 1 of 36 Platoon Formation and Retention Nomenclature ð ‘Ž acceleration of vehicles ð ‘Žmax maximum acceleration of vehicles ð ‘ most severe deceleration of vehicles ð ‘‘ð ‘–, 𠑖−1 distance between the front of vehicle ð ‘– and the rear of vehicle ð ‘– − 1 ð ‘‘e expected distance between vehicles ð ‘‘K distance between the first and fourth RSMRs used to calculate the density ð ‘‘last final distance between two RSMRs ð ‘‘max maximum distance between two RSMRs ð ‘‘min minimum distance between two RSMRs ð ‘‘s expected static distance between vehicles ð ‘‘steady steady-state inter-vehicle distance * ð ‘‘max maximum distance between two RSMRs during the stable following stage * ð ‘‘min minimum distance between two RSMRs during the stable following stage * ð ‘‘std standard deviation of the distance between two RSMRs during the stable following stage ð ‘’ input error of the PID controller ð ‘– vehicle index ð ‘— summation index in the discrete PID term 𠑘 density derived from the IDM formula ð ¾d derivative gain of the PID controller ð ¾F density obtained through physical experiment ð ¾i integral gain of the PID controller ð ¾p proportional gain of the PID controller 𠑙𠑣 length of vehicles ð ¿âˆž string-stability amplification ratio (peak-to-peak) ð ‘ž flow derived from the IDM formula ð ‘„F flow obtained through physical experiment ð ‘ âˆ— IDM desired spacing for Δ𠑣 = 0 ð ‘¡ time index ð ‘¡e expected time headway between vehicles ð ‘¡min minimum time headway between two RSMRs ð ‘¡*min minimum time headway between two RSMRs during the stable following stage Zhuopeng Xie et al.: Preprint submitted to Elsevier Page 2 of 36 Platoon Formation and Retention ð ‘¡Q duration for the fourth RSMR to reach the position of the first RSMR used to calculate the flow TTC time-to-collision between two vehicles ð ‘£ speed of vehicles 𠑣𠑙 speed of the leader ð ‘£s safe speed of vehicles ð ‘£*mean mean speed of the following RSMRs during the stable following stage ð ‘£*std standard deviation of the speed of following RSMRs during the stable following stage ð ‘£stable target steady speed used for ð ¿âˆž computation 𠑉 expected speed of vehicles 𠑉F time mean speed obtained through physical experiment Δ𠑡 time step for state/command updates (PID controller) Δ𠑣 relative speed to the leader 𠛿𠑣𠑖 speed deviation of vehicle ð ‘– from ð ‘£stable used in ð ¿âˆž ð ‘ , 𠑘1 , 𠑘2 , ð ‘™, ð ‘š, ð ›¿ constants Zhuopeng Xie et al.: Preprint submitted to Elsevier Page 3 of 36 Platoon Formation and Retention |
| Keywords: | transportation |
| JEL: | R40 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:nex:wpaper:paper-2026-13 |
| By: | Hansen, Frederik Godt (Aarhus University); Halling, Aske (Aarhus University) |
| Abstract: | A large body of research shows that compliance demands—administrative hassles and rules—impose learning, compliance, and psychological costs on individuals. Because costs are conceptualized as subjective, most studies rely on self reported measures. This article examines that approach by asking: To what extent do factors beyond compliance demands shape the subjective experience of administrative burdens? We argue that one factor, distinct from compliance demands, is the favorability of outcomes allocated by public organizations. We integrate outcome favorability into the administrative burden framework, proposing that 1) favorable outcomes reduce administrative burdens, as subjectively experienced and 2) favorable outcomes moderate the effect of compliance demands on the experience of administrative burdens. We test these expectations in two studies: an analysis of real-world interactions from the German Life Events Survey (n≈4, 000) and a Danish survey experiment with randomized demands and outcomes (n=1, 624). Both studies show that favorable outcomes reduce administrative burdens, as subjectively experienced, raising questions about how much self reported learning, compliance, and psychological costs reflect reactions to administrative requirements rather than other aspects of citizen-state interactions. |
| Date: | 2026–05–22 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:uxcb7_v1 |
| By: | Flore Vancompernolle Vromman (UCLouvain - Université Catholique de Louvain = Catholic University of Louvain); Corentin Hericher (UCLouvain - Université Catholique de Louvain = Catholic University of Louvain); Corentin Vande Kerckhove (UCLouvain - Université Catholique de Louvain = Catholic University of Louvain); Nicolas Raineri (ICN Business School, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine) |
| Abstract: | While research on algorithmic decision-making has grown substantially, little is known about people's moral reactions to organizations' artificial intelligence (AI) orientation choices. Drawing on deonance theory, we hypothesize that an organization's choice between an algorithm maximizing accuracy at the expense of fairness and one prioritizing fairness over accuracy triggers distinct moral-emotional responses among third-party observers. We conducted three vignette-based experiments comparing accuracy- and fairness-oriented algorithms in hiring (Studies 1 and 3) and dismissal (Study 2), with different degrees of accuracy loss (Study 3). Results indicate that moral emotions (i.e., other-condemning and other-praising) mediate the effects of this choice on observers' behavioral responses (i.e., negative and positive word-of-mouth) toward the organization. By highlighting how accuracy–fairness trade-offs shape observers' moral appraisals of organizations, this article advances management research on algorithmic decision-making and extends deonance theory to algorithmic human resource management, establishing AI orientation choices as a moral context informing observers' approval or disapproval of organizations. |
| Keywords: | moral emotions, ethical AI, deonance theory, accuracy-fairness trade-off, algorithmic fairness |
| Date: | 2026–05–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05631981 |
| By: | Adrien Blanchet (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, IAST - Institute for Advanced Study in Toulouse); Thomas Bassanetti (UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Stéphane Cezera (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CNRS - Centre National de la Recherche Scientifique); Clément Sire (UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Guy Théraulaz (IAST - Institute for Advanced Study in Toulouse); Ramon Escobedo (UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, UC3M - Universidad Carlos III de Madrid = University of Carlos III of Madrid); Maxime Delacroix (UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse) |
| Abstract: | In the digital era, human cooperation is increasingly mediated by indirect social cues such as ratings, reviews, and other digital traces left in online environments. These traces often guide collective behavior via stigmergy, a coordination mechanism whereby individuals interact through modifications of a shared environment. In this study, we explore how simple model-driven bots can influence human cooperation or defection in a competitive rating game inspired by online marketplaces. Participants, unaware of the bots' presence, interacted with either four human partners or four bots exhibiting predefined behaviors—cooperative, neutral, deceptive, or optimized for group performance. We show that the presence and behavior of bots significantly affect human strategies and performance. Higher levels of cooperation among bots improve human outcomes but also increase the frequency of deceptive human strategies, suggesting exploitation of reliable social information. Conversely, in less cooperative environments, participants adopt more collaborative or neutral behaviors to preserve informational value. By classifying individuals into three behavioral profiles—collaborators, neutrals, and defectors—we develop a linear regression model using three cues: the average value of rated cells, the diversity of rated cells, and the player's rank. These cues allow accurate prediction of behavioral profile distributions across experimental conditions. An adaptive agent-based model further reproduces the empirical results. Our findings demonstrate that even simple bots can strongly influence collective dynamics in human groups. These insights have implications for the design of recommendation systems, the regulation of automated agents, and the understanding of cooperation and deception in digital societies. |
| Keywords: | Model-driven bots, Agent-based modeling, Collective intelligence, Stigmergy, Deception, Human cooperation |
| Date: | 2026–04–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05628104 |
| By: | Folco Panizza; Eugen Dimant; Erik O. Kimbrough; Alexander Vostroknutov |
| Abstract: | Shared norms and tolerance of dissent are cornerstones of democracy, the rule of law, and effective governance. Yet societies often harbor deep normative disagreements, raising a foundational question: how does normative pluralism -- the coexistence of divergent moral standards -- shape the enforcement of norms and the maintenance of social order? We design a new task to measure perceptions of pluralism and show in two pre-registered experiments that perceived normative pluralism softens moral judgment and reduces punishment. When individuals are induced to consider that others may think differently, their condemnation of transgressions is tempered, and they punish less. Thus, pluralism breeds tolerance. |
| Keywords: | norm elicitation, norm uncertainty, social norms, tight and loose norm |
| JEL: | C9 D01 D9 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12689 |
| By: | Ehlert, Martin (WZB Berlin Social Science Center); Schimke, Benjamin (University of Wuppertal) |
| Abstract: | Micro-credentials such as online certificates or digital badges have been promoted as flexible tools to enhance employability, especially given the growing demand for continuing education and training. Yet, little is known about how employers value such credentials in hiring decisions and whether they function as complements or substitutes for other qualification signals. Drawing on signaling and human capital theory as well as the digital divide literature, this study examines the hiring value of digital and in-person micro-credentials relative to formal qualifications and work experience. The empirical analysis is based on a pre-registered discrete choice experiment conducted with 1, 380 human resource professionals in Germany, who evaluated 12, 048 applicant profiles across 24 occupations requiring higher education. Results based on conditional logit models show that digital micro-credentials do not increase hiring probabilities and are valued significantly less than equivalent certificates obtained through in-person courses. This difference is independent of recruiters’ prior experience with digital micro-credentials and largely driven by trust in the signal quality of the two credential formats. We also find that in-person micro-credentials issued by universities improve hiring chances compared to other providers. Furthermore, among applicants with weaker field-of-study matches, in-person micro-credentials can enhance employability, indicating a partially substitutional signaling function, while this is not the case for digital micro-credentials. These findings suggest that in strongly institutionalized labor markets such as Germany, employers continue to prioritize established (micro-)qualifications over emerging digital forms. At the same time, this is evidence against a digital divide in terms of outcomes. |
| Date: | 2026–06–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:8a7h6_v1 |
| By: | Weicheng Xue |
| Abstract: | We study behavioral alignment and representation dynamics of large language model (LLM) agents in financial decision environments. Using TradeArena, an auditable trading-agent testbed with risk reports, execution simulation, memory, and replayable trajectories, we analyze how rationales, positions, and interventions evolve under market stress. We find measurable pre-failure signatures: planning embeddings drift from normal-state centroids, fused plan-risk representations separate normal from pre-drawdown states, and manifold diagnostics show effective-rank contraction before failures. To address small-sample and embedding-choice concerns, we use 80 rolling failure anchors across eight LLM trajectories and show that contraction persists across hash, LSA, Transformer, and white-box hidden-state probes. Stress tests with CoT-free target weights, lexical controls, OHLCV noise, and false-audit reports indicate that rationale-level contraction can vanish without rationales, while intent-space contraction may remain; lexical diversity does not collapse; and fused signatures remain informative under noise. We also find that structured risk feedback can act as an external alignment signal without fine-tuning, but not as a universal performance enhancer: true audit feedback improves calibration for some models, return and drawdown for others, and reveals cases where hidden or placebo feedback has higher short-horizon return but weaker alignment diagnostics. Finally, a 51-stock intraday experiment reveals a correlation blind spot: LLM rationales often justify concentrated exposure to coupled assets that the risk layer repeatedly clips, with a rolling Markowitz baseline as a covariance reference. These results support a research claim rather than a profitability claim: auditable risk feedback and representation trajectories reveal when LLM financial reasoning is aligning, drifting, or failing. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.28850 |
| By: | Schirmann, Kyle; Espinosa, Miguel; Choudhury, Prithwiraj (Raj); Khanna, Tarun; Makridis, Christos A. |
| Abstract: | Organizations are often viewed as information processors, and an efficient, robust information architecture can be a source of competitive advantage. However, measuring the content and flow of information is challenging. We describe three metrics for capturing aspects of these products and processes, analyzing intraorganizational email data from the perspectives of production, consumption, and pure novelty. We then leverage a field experiment to determine how the structure of work—specifically, hybrid work arrangements—affects these metrics, finding that workers who split their time between home and the office may be particularly effective at transmitting information their audiences find useful and new. |
| JEL: | R14 J01 J50 |
| Date: | 2026–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:138644 |
| By: | Po Han Teo |
| Abstract: | Researchers have started using LLM agents in place of human subjects in behavioural and political-science experiments, often as a cheaper substitute for laboratory pools. The substitution does not hold up in strategic settings: humans and LLMs reliably make different choices, and neither fine-tuning on human response data nor persona conditioning has closed the gap. The behavioural-economics literature has, since Simon's introduction of bounded rationality, modelled human strategic behaviour as a classical baseline plus an additive correction term $\delta$. The framework proposed here reads $\delta$ as the mathematical signature of bounded computation: the gap between what an unboundedly-rational agent would compute and what a computationally bounded agent actually produces. For canonical games whose solutions are present in standard training corpora, LLMs retrieve and recombine corpus material, bypassing the bound that produces $\delta$ in humans. The framing extends to reasoning-distilled models through cognitive-hierarchy theory: their accessible level-$k$ strategic reasoning is bounded by compute budget and context length rather than by the cognitive constraints that bound humans, and the $\delta$ they produce, if any, carries different structural signatures. Four operational tests (conditional dependence, distributional asymmetry, path-dependence under repetition, and paraphrase-robustness) are proposed to discriminate human-shaped $\delta$ from LLM-shaped $\delta$. A moderator prediction is that $|\delta|$ scales with peer-signal individuation in the decision environment, with a quantitative bound of Cohen's $d \geq 0.5$ between named-opponent and aggregate-opponent settings. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.26437 |
| By: | Kononykhina, Olga; Haensch, Anna-Carolina; Kreuter, Frauke |
| Abstract: | Assigning free-text job descriptions to standardised taxonomies is a persistent bottleneck in survey research and official statistics. Large language models (LLMs) offer a promising path toward automation, but each step in the pipeline involves both model architecture and measurement choices about how an occupation should be represented. Through 119 experiments on German survey data, we systematically vary the textual representation of occupational categories, embedding models, LLMs, and prompt design. Category representation changes retrieval accuracy by 8–23 percentage points and classification by 11–21. Prompt role and abstention behaviour are model-specific and must be validated before deployment. The dominant source of variance, however, sits outside model measurement choices. How respondents describe their work matters more than any model or design choice (ICC = 0.76). |
| Date: | 2026–05–19 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:g6wjy_v1 |
| By: | Wenbin Wu |
| Abstract: | Large language models now power robo-advisors and trading agents, yet whether they carry built-in biases toward specific assets is largely untested. We ask three questions: do LLMs systematically prefer certain financial instruments; can an internal representation with causal leverage over those preferences be identified; and does that representation affect downstream financial decisions? We develop a three-level audit protocol and apply it to Bitcoin. First, a behavioral audit of eight frontier LLMs shows that Bitcoin's ranking among money-like instruments is frame-dependent: models place it around rank 5 of 8 as "reliable money" but near the top under crisis and autonomous-agent frames, and an attribute-swap experiment confirms rankings track functional properties, not names. Second, we open a model's internals: a search across thousands of sparse-autoencoder features in Gemma 3 identifies a dominant Bitcoin-selective feature. Amplifying it shifts the model toward the asset and suppressing it shifts the model away, even when "Bitcoin" never appears in the prompt. Third, we test financial consequences: amplification raises Bitcoin's portfolio share by 5.2 percentage points while suppression lowers it by 4.6 pp, with amplification reallocating within crypto and suppression cutting total crypto exposure. We characterize this as bounded behavioral leverage (leverage meaning causal influence over outputs, not financial leverage): an identifiable internal feature can be perturbed to move financial choices, but only within measurable limits. The framework links internal representations to external recommendations, validated with random controls and mechanism boundaries. As LLMs become autonomous financial agents, this is a first step toward a behavioral layer for emerging know-your-agent (KYA) standards: knowing what an agent prefers, and how far that preference can be moved. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.02528 |