Status and Reputation Nudging

Arbeitspapier

Status and reputation concerns are conjectured to be important especially in markets with information asymmetries between buyers and sellers, such as in credence goods markets. To investigate the effects of status and reputation on reciprocal behavior of sales personnel in a financial credence goods market, we run a natural field experiment. We send e-mail requests to insurance brokers asking for an appointment. We find that status nudging and, with a larger effect size, reputation nudging in the e-mails increase brokers' response rates compared to a neutral request. Both effects are robust across all responses, only counting affirmative responses, and in urban and rural areas.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Papers in Economics and Statistics ; No. 2019-20

Classification and Topics

• Classification: Wirtschaft ; Field Experiments ; Behavioral Finance: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets‡ ; Insurance; Insurance Companies; Actuarial Studies ; Consumer Economics: Empirical Analysis
• Subject: Insurance brokers ; natural field experiment ; credence goods ; status ; reputation

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Rose, Julia ; Kirchler, Michael ; Palan, Stefan
• Event: Veröffentlichung
• (who): University of Innsbruck, Research Platform Empirical and Experimental Economics (eeecon)
• (where): Innsbruck
• (when): 2019

Further information

• Handle: http://hdl.handle.net/10419/238223
• Last update: 10.03.2025, 11:44 AM CET