NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Bruno Ferman

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May 2014Identifying Ideology: Experimental Evidence on Anti-Americanism in Pakistan
with Leonardo Bursztyn, Michael Callen, Saad Gulzar, Ali Hasanain, Noam Yuchtman: w20153
Identifying the role of intrinsic, ideological motivation in political behavior is confounded by agents' consequential aims and social concerns. We present results from two experiments that implement a methodology isolating Pakistani men's intrinsic motives for expressing anti-American ideology, in a context with clearly-specified financial costs, but minimal consequential or social considerations. Over one-quarter of subjects forgo around one-fifth of a day's wage to avoid anonymously checking a box indicating gratitude toward the U.S. government, thus revealing anti-Americanism. We find that ideological expression responds to financial and social incentives, and that measured ideology predicts membership in a major anti-American political party.
July 2012Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment
with Leonardo Bursztyn, Florian Ederer, Noam Yuchtman: w18241
Using a high-stakes field experiment conducted with a financial brokerage, we implement a novel design to separately identify two channels of social influence in financial decisions, both widely studied theoretically. When someone purchases an asset, his peers may also want to purchase it, both because they learn from his choice ("social learning") and because his possession of the asset directly affects others' utility of owning the same asset ("social utility"). We find that both channels have statistically and economically significant effects on investment decisions. These results can help shed light on the mechanisms underlying herding behavior in financial markets.

Published: “Understanding Mechanisms Underlying Peer Effects: Evidence from a Field Experiment on Financial Decisions” (with Florian Ederer, Bruno Ferman, and Noam Yuchtman) Econometrica, 82(4): 1273-1301 (2014)

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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