The value of superstitions
AbstractThis paper estimates the value of superstitions by studying the auctions of vehicle license plates. We show that the value of superstitions is economically significant, which justifies their persistence in human civilization. We also document the changes of the value of superstitions across different types of plates, across different policy regimes, and across different macroeconomic environments. Interestingly, some of the changes are rather consistent with economic intuition.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 31 (2010)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/joep
Other versions of this item:
- Tarvis Ng & Terence Tai-Leung, Chong & Xin Du, 2009. "The Value of Superstitions," Departmental Working Papers _189, Chinese University of Hong Kong, Department of Economics.
- Ng, Travis & Chong, Terence & Xin, Du, 2009. "The Value of Superstitions," MPRA Paper 13575, University Library of Munich, Germany.
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
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