Seemingly Irrelevant Events Affect Perceptions and Expectations - The FIFA World Cup 2006 as a Natural Experiment
AbstractProminent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence that seemingly irrelevant events (the outcomes of soccer matches) can systematically affect individual perceptions about economic prospects, both on a personal and economy-wide level.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5851.
Date of creation: Sep 2006
Date of revision:
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Find related papers by JEL classification:
- D0 - Microeconomics - - General
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- E0 - Macroeconomics and Monetary Economics - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-28 (All new papers)
- NEP-CBE-2006-10-28 (Cognitive & Behavioural Economics)
- NEP-EXP-2006-10-28 (Experimental Economics)
- NEP-MAC-2006-10-28 (Macroeconomics)
- NEP-SPO-2006-10-28 (Sports & Economics)
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