Peter Andre

Shallow Meritocracy Abstract. Meritocracies aspire to reward hard work and promise not to judge individuals by the circumstances into which they were born. However, circumstan

🎉Great News - "Shallow Meritocracy" by SAFE researcher @peterandre.bsky.social is now available in the @reveconstudies.bsky.social!

👉Find it here: academic.oup.com/restud/artic... #EconSky #behavioraleconomics

Thanks, Stephanie. I would be happy to join the list, too.

Don’t forget to apply for the Early Career Behavioral Economics Conference 👇👇

🚨 8th Economics of Media Bias Workshop 2025 🚨

Working on media economics? Check out the call, help spread the word to your colleagues and submit your exciting work!

Frankfurt, May 8-9
Keynote by Elliott Ash
More infos: mediabiasworkshop.org/event/8th-ec...

#EconSky #MediaBias

📄 Dive into the paper for the full story:

Quick-Fixing: Near-Rationality in Consumption Savings Behavior
with Joel Flynn, George Nikalakoudis (who is on the job market!), and Karthik Sastry

papers.ssrn.com/sol3/papers....

A calibrated model based on our survey generates 3x more size-dependence in aggregate consumption responses to transfer shocks than the rational benchmark.

Households' quick-fixing types account for 49% of the variance in MPCs across households, despite not being predictable by other demographic and economic information.

… before they abruptly switch to similar consumption policies for large shocks.

68% of households follow one of four simple quick-fix consumption rules for small shocks:

Consumption fixers: MPC = 0 (save everything)
Savings fixers: MPC = 1 (spend everything)
Consumption prioritizers: MPC = 1 for gains but 0 for losses
Savings prioritizers: MPC = 0 for gains but 1 for losses

Survey evidence from 5,000 US households reveals what these quick-fixes look like.

Most households choose extreme MPCs of 0 or 1 for small shocks but transition to moderate and stable interior MPCs for larger shocks, generating the “bowtie” shape of the MPC distribution below.

Our model shows that even small reoptimization costs can lead to large deviations from rational behavior (Akerlof and Yellen, 1985). The result? Households often rely on "quick-fixes": simple, approximate solutions.

Do you rethink your entire consumption-saving strategy every time your income fluctuates? Probably not! Like most of us, you might prefer simple "quick fixes" to fully reoptimizing.

We explore this near-rationality in household behavior and embed it into a standard consumption-savings model.

🚨 New paper for #EconSky 🚨

Do you rethink your entire consumption-saving strategy every time your income fluctuates? Or do you prefer …

Quick-Fixing: Near-Rationality in Consumption Savings Behavior, w/ Joel Flynn, George Nikalakoudis, and Karthik Sastry
papers.ssrn.com/sol3/papers....

🧵 below.

📢 Early-Career Behavioral Economics Conference 2025 📢

Check out the call, help spread the word to your early-career colleagues, and submit your wonderful papers!

Hosted by FAIR, Bergen, June 19-20, 2025

More info: sites.google.com/site/ecbecon...

Do we hold others responsible for their choices even when these choices have been shaped by unfair unequal circumstances?

Yes, we do, suggests "Shallow Meritocracy" from Peter Andre @peterandre.bsky.social, recently accepted at REStud.

www.restud.com/shallow-meri...

Climate march in Edinburgh. Credit: PA Images / Alamy Stock Photo

Interview: Why global support for climate action is ‘systematically underestimated’ | @drsimevans.bsky.social
w/comment from @peterandre.bsky.social Teodora Boneva @felixchopra.bsky.social Armin Falk

Read here: bit.ly/3SNthhV

Hello world! We can share some good news today.

🌍 Support for climate action is widespread across the globe and much larger than it is perceived. 🌍

Our new article is out in Nature Climate Change: www.nature.com/articles/s41...
w/ Teodora Boneva, @felixchopra.bsky.social, Armin Falk

Young researchers in Behavioral Finance - please apply and share - we are very excited to post our call for research proposals for several research grants of 5,000 EUR!

More details can be found here: www.behavioral-finance.de/grant/

Amazing news, and wow, what a great pick for everyone in experimental and behavioral with Chris Roth (not here yet, I guess?)! Congrats 🥳🥳🥳

mailchi.mp/eeassoc.org/...

Shout-out to the past organizers and initiators of this event, the founding mothers and fathers: Kai Barron, Teodora Boneva, Stephanie Heger, Silvia Saccardo, and Paolina Medina.

A big thank you for the great work over the last years!

Contributions from all areas and applications of behavioral economics are welcome, including empirical and theoretical research.

Organizing committee: Cuimin Ba, Luca Henkel, Mattie Toma, and me.

Early-Career Behavioral Economics Conference 2024

Check out the call, help spread the word to your early-career colleagues, and submit your wonderful papers!

Bonn, briq, July 1–2

More infos
sites.google.com/site/ecbecon...

#ECBE2024 #EconSky 📉📈

Check out the paper at drive.google.com/file/d/1-_VP...

We find that disagreement in return expectations has deep roots: mental models of the stock market differ across economic agents.

And they can drastically differ from standard economic theories among important groups of households and professionals who advise and trade for them.

New paper!
w/ Philipp Schirmer @johanneswohlfart.bsky.social

Stock markets revolve around return expectations which traders form in light of their deeper understanding – their mental model – of the market

... which we know very little about.

Time to change this!

drive.google.com/file/d/1-_VP...