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Status and Reputation Nudging

Author

Listed:
  • Julia Rose
  • Michael Kirchler
  • Stefan Palan
Abstract
We conduct a natural field experiment with 808 insurance brokers to test the effects of compliments including status or reputation nudges on reciprocal behavior. We send e-mail requests to insurance brokers asking them to share their expertise on specialist issues. Compared to a neutral request, we find that reputation nudges significantly increase brokers' response rates and ultimately their willingness to follow through with an initial positive response. We find suggestive evidence for status nudges having a similar impact. These findings hold for several specifications, such as different geographical areas, and for brokers employed with large companies.

Suggested Citation

  • Julia Rose & Michael Kirchler & Stefan Palan, 2019. "Status and Reputation Nudging," Working Papers 2019-20, Faculty of Economics and Statistics, Universität Innsbruck.
    • Handle: RePEc:inn:wpaper:2019-20
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    References listed on IDEAS

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    More about this item

    Keywords

    Insurance brokers; natural field experiment; credence goods; status; reputation;
    All these keywords.

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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