Ng, Travis and Chong, Terence and Xin, Du (2009): The Value of Superstitions.
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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.
|Item Type:||MPRA Paper|
|Original Title:||The Value of Superstitions|
|English Title:||The Value of Superstitions|
|Subjects:||D - Microeconomics > D4 - Market Structure, Pricing, and Design > D46 - Value Theory
D - Microeconomics > D4 - Market Structure, Pricing, and Design > D44 - Auctions
|Depositing User:||Travis Ka Ho Ng|
|Date Deposited:||22. Feb 2009 07:09|
|Last Modified:||11. Mar 2015 06:49|
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