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Status and Reputation Nudging

Julia Rose (), Michael Kirchler () and Stefan Palan ()
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Michael Kirchler: Department of Banking and Finance, University of Innsbruck

No 2019-03, Working Paper Series, Social and Economic Sciences from Faculty of Social and Economic Sciences, Karl-Franzens-University Graz

Abstract: 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.

Pages: 24 pages
Date: 2019-12-02
New Economics Papers: this item is included in nep-cbe and nep-exp
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Persistent link: https://EconPapers.repec.org/RePEc:grz:wpsses:2019-03

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