How psychological framing affects economic market prices in the lab and field

Volume: 110, Issue: 29, Pages: 11779 - 11784
Published: Jul 1, 2013
Abstract
A fundamental debate in social sciences concerns how individual judgments and choices, resulting from psychological mechanisms, are manifested in collective economic behavior. Economists emphasize the capacity of markets to aggregate information distributed among traders into rational equilibrium prices. However, psychologists have identified pervasive and systematic biases in individual judgment that they generally assume will affect collective...
Paper Details
Title
How psychological framing affects economic market prices in the lab and field
Published Date
Jul 1, 2013
Volume
110
Issue
29
Pages
11779 - 11784
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