The Value of Superstitions
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.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
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.
|Date of creation:||Feb 2009|
|Date of revision:|
|Contact details of provider:|| |
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.:
- 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.
- 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.
- Garratt, Rod & Tröger, Thomas, 2005.
"Speculation in Standard Auctions with Resale,"
Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems
42, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Drew Fudenberg & David K. Levine, 2006.
"Superstition and Rational Learning,"
American Economic Review,
American Economic Association, vol. 96(3), pages 630-651, June.
- Drew Fudenberg & David K Levine, 2005. "Superstition and Rational Learning," Levine's Working Paper Archive 618897000000000731, David K. Levine.
- Levine, David & Fudenberg, Drew, 2006. "Superstition and Rational Learning," Scholarly Articles 3196330, Harvard University Department of Economics.
- Drew Fudenberg & David K. Levine, 2006. "Superstition and Rational Learning," Harvard Institute of Economic Research Working Papers 2114, Harvard - Institute of Economic Research.
- Hristos Doucouliagos, 2004. "Number preference in Australian stocks," Applied Financial Economics, Taylor & Francis Journals, vol. 14(1), pages 43-54.
- 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.
- 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..
- K. K. Lancaster, 2010. "A New Approach to Consumer Theory," Levine's Working Paper Archive 1385, David K. Levine.
- 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.
- Ka-Fu Wong & Linda Yung, 2005. "Do Dragons Have Better Fate?," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 689-697, July.
- Biddle, Jeff, 1991. "A Bandwagon Effect in Personalized License Plates?," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 375-88, April.
- 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.
- 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.
- Woo, Chi-Keung & Kwok, Raymond H. F., 1994. "Vanity, superstition and auction price," Economics Letters, Elsevier, vol. 44(4), pages 389-395, April.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
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 references are entirely missing, you can add them using this form.