Money Illusion: Are Economists Different?
We carried out a survey among a large group of undergraduate students of different disciplines and different years to test whether the study of economics or scientific majors influences the degree by which people are affected by money illusion. We find significant differences between first-year students, suggesting the presence of a selection bias towards money illusion in humanities students and away from it in economics and science students. In addiction, comparing economics students of different years, we do not find evidence of a learning effect.
Volume (Year): 1 (2008)
Issue (Month): 3 ()
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- Eldar Shafir & Peter Diamond & Amos Tversky, 1997. "Money Illusion," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 341-374.
- Giancarlo Marini & Alessandro Piergallini & Pasquale Scaramozzino, 2004.
"Inflation Bias after the Euro: Evidence from the UK and Italy,"
CEIS Research Paper
60, Tor Vergata University, CEIS.
- Giancarlo Marini & Alessandro Piergallini & Pasquale Scaramozzino, 2007. "Inflation bias after the Euro: evidence from the UK and Italy," Applied Economics, Taylor & Francis Journals, vol. 39(4), pages 461-470.
- Kooreman, Peter & Faber, Riemer P & Hofmans, Heleen M J, 2004.
"Charity Donations and the Euro Introduction: Some Quasi-Experimental Evidence on Money Illusion,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 36(6), pages 1121-24, December.
- Kooreman, Peter & Faber, Riemer & Hofmans, Heleen, 2004. "Charity Donations and the Euro Introduction: Some Quasi-Experimental Evidence on Money Illusion," IZA Discussion Papers 1318, Institute for the Study of Labor (IZA).
- Edmund Cannon & Giam Pietro Cipriani, 2003.
"Euro-illusion: a natural experiment,"
Bristol Economics Discussion Papers
03/556, Department of Economics, University of Bristol, UK.
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