Browsing by Subject "reputation"

Now showing 1 - 2 of 2
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    Concern for Group Reputation Increases Prosociality in Young Children.
    (Psychol Sci, 2018-02) Engelmann, Jan M; Herrmann, Esther; Tomasello, Michael
    The motivation to build and maintain a positive personal reputation promotes prosocial behavior. But individuals also identify with their groups, and so it is possible that the desire to maintain or enhance group reputation may have similar effects. Here, we show that 5-year-old children actively invest in the reputation of their group by acting more generously when their group's reputation is at stake. Children shared significantly more resources with fictitious other children not only when their individual donations were public rather than private but also when their group's donations (effacing individual donations) were public rather than private. These results provide the first experimental evidence that concern for group reputation can lead to higher levels of prosociality.
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    ItemOpen Access
    Constrained Discretion and Central Bank Transparency
    (Economic Research Initiatives at Duke (ERID), 2015-02-01) Bianchi, F; Melosi, L
    We develop and estimate a general equilibrium model to quantitatively assess the effects and welfare implications of central bank transparency. Monetary policy can deviate from active inflation stabilization and agents conduct Bayesian learning about the nature of these deviations. Under constrained discretion, only short deviations occur, agents' uncertainty about the macroeconomy remains contained, and welfare is high. However, if a deviation persists, uncertainty accelerates and welfare declines. Announcing the future policy course raises uncertainty in the short run by revealing that active inflation stabilization will be temporarily abandoned. However, this announcement reduces policy uncertainty and anchors inflationary beliefs at the end of the policy. For the U.S. enhancing transparency is found to increase welfare.