Advanced Search
MyIDEAS: Login

The Value of Superstitions

Contents:

Author Info

  • Tarvis Ng
  • Terence Tai-Leung, Chong
  • Xin Du

Abstract

This 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 in turn justifies their persistence in human civilization. We also show that such a value, though based inherently on irrational beliefs, would respond to changes in a manner consistent with economic intuition. In addition, the paper contributes to the recently-heated debate on whether recessions draw people to churches; our results are consistent with people being more superstitious in bad times.

(This abstract was borrowed from another version of this item.)

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Paper provided by Chinese University of Hong Kong, Department of Economics in its series Departmental Working Papers with number _189.

as in new window
Length:
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:chk:cuhked:_189

Contact details of provider:

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Woo, Chi-Keung & Kwok, Raymond H. F., 1994. "Vanity, superstition and auction price," Economics Letters, Elsevier, vol. 44(4), pages 389-395, April.
  2. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  3. Hristos Doucouliagos, 2004. "Number preference in Australian stocks," Applied Financial Economics, Taylor & Francis Journals, vol. 14(1), pages 43-54.
  4. Drew Fudenberg & David K. Levine, 2006. "Superstition and Rational Learning," American Economic Review, American Economic Association, vol. 96(3), pages 630-651, June.
  5. Ka-Fu Wong & Linda Yung, 2005. "Do Dragons Have Better Fate?," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 689-697, July.
  6. Biddle, Jeff, 1991. "A Bandwagon Effect in Personalized License Plates?," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 375-88, April.
  7. Steven C. Bourassa & Vincent S. Peng, 1999. "Hedonic Prices and House Numbers: The Influence of Feng Shui," International Real Estate Review, Asian Real Estate Society, vol. 2(1), pages 79-93.
  8. Rod Garratt & Thomas Troger, 2004. "Speculation in Standard Auctions with Resale," Microeconomics 0405005, EconWPA.
  9. Rod Garrat & Thomas Tröger, 2005. "Speculation in Standard Auctions with Resale," Bonn Econ Discussion Papers bgse10_2005, University of Bonn, Germany.
  10. K. K. Lancaster, 2010. "A New Approach to Consumer Theory," Levine's Working Paper Archive 1385, David K. Levine.
  11. Thomas Kramer & Lauren Block, 2008. "Conscious and Nonconscious Components of Superstitious Beliefs in Judgment and Decision Making," Journal of Consumer Research, University of Chicago Press, vol. 34(6), pages 783-793, October.
  12. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  13. Woo, Chi-Keung & Horowitz, Ira & Luk, Stephen & Lai, Aaron, 2008. "Willingness to pay and nuanced cultural cues: Evidence from Hong Kong's license-plate auction market," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 35-53, February.
  14. TerenceTai-Leung Chong & Xin Du , 2008. "Hedonic Pricing Models For Vehicle Registration Marks," Pacific Economic Review, Wiley Blackwell, vol. 13(2), pages 259-276, 05.
  15. Cynthia G. McDonald & V. Carlos Slawson, 2002. "Reputation in An Internet Auction Market," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 633-650, October.
  16. Patrick Bajari & Ali Horta�su, 2004. "Economic Insights from Internet Auctions," Journal of Economic Literature, American Economic Association, vol. 42(2), pages 457-486, June.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Yang, Zili, 2011. "“Lucky” numbers, unlucky consumers," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(5), pages 692-699.
  2. Fortin, Nicole M. & Hill, Andrew J. & Huang, Jeff, 2013. "Superstition in the Housing Market," IZA Discussion Papers 7484, Institute for the Study of Labor (IZA).
  3. Shum, Matthew & Sun, Wei & Ye, Guangliang, 2014. "Superstition and “lucky” apartments: Evidence from transaction-level data," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 109-117.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:chk:cuhked:_189. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.