It’s Not about the Money…: Behavioral Aspects of Tipping

Hana Medler-Liraz

Chapter 10 in Behavioral Finance:Beyond the Basics, 2024, pp 215-229 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Tipping behavior continues to intrigue economists, psychologists, and hospitality management researchers primarily because tipping is a voluntary payment that does not buy something real in return. Yet, it is still a major source of income for millions of workers. This chapter offers a glimpse into the main reasons why people tip. Since consumers’ psychological and social motivations can better account for tipping behavior than economic considerations, the following sections present key studies on the behavioral factors that affect tips. Future directions are discussed.

Keywords: Market Efficiency; Cross-Sectional Anomalies; Arbitrage Trading Activity; Exploiting Mispricing Dividends; Stock Repurchase; Annuity; Financial Decisions; Lump Sum. Retirement Savings; Behavioral Factors; Disruptive Innovation; Market Transition; Investments; Analyst Recommendations; Coverage Initiation; Stock Market Reaction; Artificial Intelligence; Professional Investors (search for similar items in EconPapers)
JEL-codes: G4 (search for similar items in EconPapers)
Date: 2024
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