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Full-Text Articles in Behavioral Economics

The Exports Of Higher Education Services From Oecd Countries To Asian Countries. A Gravity Approach, John C. Beghin, Byung Yul Park Nov 2019

The Exports Of Higher Education Services From Oecd Countries To Asian Countries. A Gravity Approach, John C. Beghin, Byung Yul Park

Economics Working Papers

We analyze bilateral exports of higher education services between OECD countries and Asia, using a gravity equation approach, panel data from 1998 to 2016, and PPML regression. The approach treats higher education consumption by Asian countries as a consumable durable good reflecting investment in human capital. Asian Students come to OECD countries to obtain degrees from their universities. Structurally, the flow of students from Asian country j to OECD country i depends on the higher-education capacity of i, the perceived quality of universities in i, expected earnings in i, a series of bilateral transaction costs between i and j, the ...


Identification Of Resource Extraction Technologies When The Resource Stock Is Unobservable, Quinn Weninger, Larry Perruso, Helle Bunzel Nov 2019

Identification Of Resource Extraction Technologies When The Resource Stock Is Unobservable, Quinn Weninger, Larry Perruso, Helle Bunzel

Economics Working Papers

This paper consistently estimates the structural properties of a fishery resource extraction technology. We overcome two ubiquitous features of fisheries data generating processes that invalidate classical estimators: unobservability by the researcher (but partial observability by fishermen) of the fish stock, and endogenous production decisions that vary with private information about stock abundance and economic variables. We adopt methods used in fisheries stock assessment to control for unobserved stock effects on productivity. A nonlinear instrumental variables estimator controls for endogenous choices of the output mix. The approach is applied to the US Gulf of Mexico commercial reef fish fishery. Comparison with ...


Purchasing Products To Make A Difference: A Study Of Corporate Social Responsibility, Gender, And Cosmetic Purchasing Behavior By College Students, Allegra Blomenberg Oct 2019

Purchasing Products To Make A Difference: A Study Of Corporate Social Responsibility, Gender, And Cosmetic Purchasing Behavior By College Students, Allegra Blomenberg

Honors Theses, University of Nebraska-Lincoln

The purpose of this study was to investigate gender differences that exist in the way corporate social responsibility (CSR) is perceived by college students and how this affects cosmetic purchasing behavior. Two other objectives included finding what drives millennial cosmetic purchasing behavior as a whole and the ways in which millennials are informed of companies’ corporate social responsibilities. Through analyses of interview data from fourteen college-age millennials, the study showed that non-binary participants more positively perceived CSR and actively bought from responsible brands. The male participant perceived CSR positively but had never been sure to purchase products from a brand ...


Additionality In Cover Crop Cost-Share Programs In Iowa: A Matching Assessment, Wendiam P. M. Sawadgo, Alejandro Plastina, Fang-Ge Liu Oct 2019

Additionality In Cover Crop Cost-Share Programs In Iowa: A Matching Assessment, Wendiam P. M. Sawadgo, Alejandro Plastina, Fang-Ge Liu

Economics Working Papers

Cover crops have been shown to have both on-farm and water quality benefits. However, the use of cover crops in Iowa remains subdued, in part due to the implementation costs faced by farmers. In this paper, we test the hypothesis that monetary incentives through cost-share programs are effective at increasing the amount of farmland planted to cover crops in Iowa, using a propensity-score matching estimator. Combining data from a unique cover crop survey of 674 farm-operator respondents and the 2012 Census of Agriculture, we find that cost-share payments induced an 18 percentage-point expansion of the cover crop area beyond what ...


The Effect Of Police Oversight On Crime And Allegations Of Misconduct: Evidence From Chicago, Bocar A. Ba, Roman G. Rivera Oct 2019

The Effect Of Police Oversight On Crime And Allegations Of Misconduct: Evidence From Chicago, Bocar A. Ba, Roman G. Rivera

Faculty Scholarship at Penn Law

Does policing the police increase crime? We avoid simultaneity effects of increased public oversight during a major scandal by identifying events in Chicago that only impacted officers’ self-imposed monitoring. We estimate crime’s response to self- and public-monitoring using regression discontinuity and generalized synthetic control methods. Self-monitoring, triggered by police union memos, significantly reduced serious complaints without impacting crime or effort. However, after a scandal, both civilian complaints and crime rates rise, suggesting that higher crime rates following heightened oversight results from de-policing and civilian behavior simultaneously changing. Our research suggests that proactive internal accountability improves police-community relations without increasing ...


Behavioral Impediments To Valuing Annuities: Complexity And Choice Bracketing, Jeffrey R. Brown, Arie Kapteyn, Erzo F. P. Luttmer, Olivia S. Mitchell, Anya Samek Oct 2019

Behavioral Impediments To Valuing Annuities: Complexity And Choice Bracketing, Jeffrey R. Brown, Arie Kapteyn, Erzo F. P. Luttmer, Olivia S. Mitchell, Anya Samek

Wharton Pension Research Council Working Papers

This paper examines two behavioral factors that diminish people’s ability to value a lifetime income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. By experimentally varying the degree of complexity, we provide the first causal evidence that increasing the complexity of the annuity choice reduces respondents’ ability to value the annuity, measured by the difference between the sell and buy values people assign to the annuity. We also find that people’s ability to value an annuity increases when we experimentally induce them to think jointly about the ...


Long-Run Impacts Of Trade Shocks And Export Competitiveness: Evidence From The U.S. Bse Event, Chen-Ti Chen, John M. Crespi, William Hahn, Lee L. Schulz, Fawzi Taha Sep 2019

Long-Run Impacts Of Trade Shocks And Export Competitiveness: Evidence From The U.S. Bse Event, Chen-Ti Chen, John M. Crespi, William Hahn, Lee L. Schulz, Fawzi Taha

CARD Working Papers

This paper examines how comparative advantages of major beef exporters changed following the 2003 bovine spongiform encephalopathy outbreak (BSE), which significantly disrupted the U.S. beef trade until approximately April 2007. Using longitudinal data on beef export values and constructed revealed comparative advantage measures, we show that while some measure of the long-run impacts of BSE on U.S. beef export competitiveness have returned to pre-2003 levels, the U.S.’s comparative advantage has not. We also examine a hypothetical scenario of no BSE event in 2003 and predict what exporters’ competitiveness would have looked like. The authors discuss the ...


Measuring Impacts Of Uncertainty, Irreversibility, And Loss Aversion On The Adoption Of Crop Canopy Sensors Among Nebraska Corn Producers, Brooks Ronspies Aug 2019

Measuring Impacts Of Uncertainty, Irreversibility, And Loss Aversion On The Adoption Of Crop Canopy Sensors Among Nebraska Corn Producers, Brooks Ronspies

Dissertations and Theses in Agricultural Economics

Understanding barriers to adoption of Precision Agricultural Technologies (PATs) is important to the growth of agricultural productivity, efficiency, and sustainability. This thesis proposes and evaluates a model for estimating the impact of uncertainty, irreversibility, and loss aversion on producers’ adoption of crop canopy sensors in order to explain adoption behavior that contradicts previous expectations about the conditions necessary for technology adoption. The model is evaluated using estimated statistical distributions of price and field characteristics designed to match observations of actual corn and nitrogen prices, and of conventional and crop canopy sensor based nitrogen application. Results from this model using expected ...


Designing Single-Family Residences: A Study Of The Positive Impact Of Interior Design In Creating New Home Value, Shawn M. Falcone Aug 2019

Designing Single-Family Residences: A Study Of The Positive Impact Of Interior Design In Creating New Home Value, Shawn M. Falcone

Interior Design Program: Theses

This study seeks to demonstrate that interior designers should be included as primary stakeholders in the home construction market. The market demand for new single-family homes in America is a relative constant. The primary stake and role that land developers, architects, draftsman, home builders, bankers, appraisers, real estate agents, and buyers have in the home construction market is clear. What is less clear is the role in value an interior designer has in the home construction market. This thesis examines the impact designers have on home value when their expertise is utilized in space planning (i.e.: layout, function, room ...


How Does Identifying As Gluten-Free Impact Information Choice Regarding The Gluten-Free Diet?, Pratiksha Baishya Aug 2019

How Does Identifying As Gluten-Free Impact Information Choice Regarding The Gluten-Free Diet?, Pratiksha Baishya

Dissertations and Theses in Agricultural Economics

The market for gluten-free products is a multi-billion-dollar industry in the United States and has seen tremendous growth in the recent years. The retail sales of gluten-free foods in the United States almost tripled between 2011 and 2015, although rates of diagnosed gluten-related health problems have not risen. In addition to people who suffer from Celiac Disease, Wheat Allergy and Non-Celiac Gluten Sensitivity, there is a category or people known as PWAG (people who avoid gluten) who seem to have significantly contributed to this boom in the market for gluten-free foods. With more people choosing to adopt the gluten-free diet ...


Information Order In Monotone Decision Problems Under Uncertainty, Jian Li, Junjie Zhou Jul 2019

Information Order In Monotone Decision Problems Under Uncertainty, Jian Li, Junjie Zhou

Economics Working Papers

This paper examines the robustness of Lehmann’s ranking of experiments (Lehmann, 1988) for decisionmakers who are uncertainty-averse à la Cerreia- Vioglio et al. (2011). We show that, assuming commitment, for all uncertaintyaverse indices satisfying some mild assumptions, Lehmann’s informativeness ranking is equivalent to the induced uncertainty-averse value ranking of experiments for all agents with single-crossing vNM utility indices (Theorem 1). Moreover, Lehmann ranking can also be detected by varying the uncertainty-averse indices for a fixed finite collection of vNM utility indices (Theorem 2). Our findings suggest that Lehmann’s ranking can be a useful enrichment of Blackwell’s ...


A Transactive Energy Approach To Distribution System Design: Household Formulation, Swathi Battula, Leigh Tesfatsion, Zhaoyu Wang Jun 2019

A Transactive Energy Approach To Distribution System Design: Household Formulation, Swathi Battula, Leigh Tesfatsion, Zhaoyu Wang

Economics Working Papers

A household model is formulated to facilitate careful performance testing of bid-based transactive energy system (TES) designs in advance of deployment. Household welfare is expressed by comfort minus cost. Household thermal dynamics are represented by an Equivalent Thermal Parameter (ETP) model based on appliance and house attributes. An optimal bid function is characterized for the household, conditional on its operating state. A method is developed for explicit derivation of this optimal bid function, given discretized forms for the household’s welfare and thermal dynamic functions. A method is also developed for constructing representative household types as correlated collections of welfare ...


Tax Uncertainty And Business Activity, Jungho Lee, Jianhuan Xu Jun 2019

Tax Uncertainty And Business Activity, Jungho Lee, Jianhuan Xu

Research Collection School Of Economics

We investigate the extent to which uncertainties about tax policies affect business activities. We develop a statewide tax-uncertainty measure (TU measure) and show that it captures state corporate tax uncertainty. By comparing adjacent counties across state borders, we show that increasing tax uncertainty by one standard deviation (a 30% increase in the TU measure) leads to a 0.17% point per-year decrease in the growth rate of establishments over two years. The result holds after conducting a variety of robustness checks and is not likely to be driven by general state-policy uncertainties.


A Study On The Reaction Of Households' Entertainment Consumption Due To The Path Act, Ricardo A. Pena May 2019

A Study On The Reaction Of Households' Entertainment Consumption Due To The Path Act, Ricardo A. Pena

Joseph Wharton Scholars

Contrary to traditional economic theory, studies have demonstrated how temporary increases in discretionary income can alter consumption habits of individuals. Furthermore, research has shown that spending on non-necessities, such as entertainment, can be influenced by increases in discretionary income as well as several other factors. This study attempts to analyze this relationship and whether a shift in the timing of tax refunds due to the PATH Act has changed entertainment spending in households. Using Consumer Expenditures Survey interview data, this paper will attempt to answer this question by focusing on households who obtained the EITC and ACTC. Although no statistically ...


Quality Over Quantity: A Comparative Analysis Of The Quality Measures And Performance Between Switzerland And The United States, Lexi Farina Apr 2019

Quality Over Quantity: A Comparative Analysis Of The Quality Measures And Performance Between Switzerland And The United States, Lexi Farina

Independent Study Project (ISP) Collection

Even in the best health systems, poor quality of care continues to cause harm to patients and prevent them from receiving the best treatment possible. Thus, it is important to record and report quality of care measures because they can help inform policy changes and improve performance. In this paper, a comparative analysis between the United States and Switzerland is conducted to understand the process for defining and assessing quality indicators in each country as well as compare their quality of care performance results. The methods for this study include a literature review of relevant background information relating to quality ...


Supplying Slaves: The Disguise Of Greener Pastures: An Exploratory Study Of Human Trafficking In Uganda, Kyla Johnson Apr 2019

Supplying Slaves: The Disguise Of Greener Pastures: An Exploratory Study Of Human Trafficking In Uganda, Kyla Johnson

Independent Study Project (ISP) Collection

The purpose of this study was to evaluate labor migration in Uganda with a specific focus on the role labor recruitment agencies play in transporting people and how certain circumstances such as lack of knowledge of safe migration can leave people vulnerable to human trafficking. Labor externalization is beneficial specifically for developing countries because it provides jobs for the robust and available labor in these countries. Nonetheless, when reports appear that young girls are stranded abroad in the middle east after being taken there for work, labor recruitment agencies are first to receive the blame. Although Uganda issued a ban ...


Illusion Of Gender Parity In Education: Intrahousehold Resource Allocation In Bangladesh, Sijia Xu, Abu S. Shonchoy, Tomoki Fujii Apr 2019

Illusion Of Gender Parity In Education: Intrahousehold Resource Allocation In Bangladesh, Sijia Xu, Abu S. Shonchoy, Tomoki Fujii

Research Collection School Of Economics

A target in the Millennium Development Goals—gender parity in all levels of education—is widely considered to have been attained. However, measuring gender parity only through school enrollment is misleading, as girls may lag behind boys in other educational measures. We investigate this with four rounds of surveys from Bangladesh by decomposing households’ education decisions into enrollment, education expenditure, and share of the education expenditure allocated for the quality of education like private tutoring. We find a strong profemale bias in school enrollment but promale bias in the other two decisions. This contradirectional gender bias is unique to Bangladesh ...


Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola Apr 2019

Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola

Research Collection Lee Kong Chian School Of Business

The current review summarizes emerging research in psychology and associated disciplines showing that the economic cycles exert social influence on individuals across a range of psychological domains. Most research on social influence focused on how factors in the proximal environment impact individuals, while influences emanating from the state of the economy as a whole received far less attention. I review the development of different intellectual traditions examining social influence to explain the relative lack of attention to economic cycles and position emerging work on the topic relative to past research. I then review research on how economic cycles influence individuals ...


College Crime And Retention Rates, Abigail R. Hauer Apr 2019

College Crime And Retention Rates, Abigail R. Hauer

Student Publications

Increased media attention on college crime has led to greater prioritization of campus safety when selecting a college to attend. This, coupled with society’s view of higher education as a necessity to succeed in the labor market, creates a potential tradeoff between safety on campus and future job success. To analyze such tradeoff, I examine whether college crime affects retention rates at four-year American institutions. While literature has focused on college crime and factors that affect the decision to begin attending a college, no study has solely focused on the college crime and the decision to continue attending a ...


Central Place Theory And The Power Law For Cities, Wen-Tai Hsu, Zou Xin Mar 2019

Central Place Theory And The Power Law For Cities, Wen-Tai Hsu, Zou Xin

Research Collection School Of Economics

This chapter provides a review of the link between central place theory and the power laws for cities. A theory of city size distribution is proposed via a central place hierarchy a la Christaller (1933) either as an equilibrium results or an optimal allocation. Under a central place hierarchy, it is shown that a power law for cities emerges if the underlying heterogeneity in economies of scale across good is regularly varying. Furthermore, we show that an optimal allocation of cities conforms with a central place hierarchy if the underlying heterogeneity in economies of scale across good is a power ...


Motherhood, Migration, And Self-Employment Of College Graduates, Zhengyu Cai, Heather M. Stephens, John V. Winters Feb 2019

Motherhood, Migration, And Self-Employment Of College Graduates, Zhengyu Cai, Heather M. Stephens, John V. Winters

Economics Working Papers

Women face unique challenges in starting and running their own businesses and may have differing motives to men for pursuing self-employment. Previous research suggests that married women with families value the flexibility that self-employment can offer, allowing them to balance their family responsibilities with their career aspirations. This may be especially true for college graduates, who tend to have more successful businesses. Access to childcare may also affect their labor force decisions. Using American Community Survey microdata, we examine how birth-place residence, a proxy for access to extended family and child care, relates to self-employment and hours worked for college-graduate ...


The Impact Of The Durbin Amendment On Banks, Merchants, And Consumers, Vladimir Mukharlyamov, Natasha Sarin Jan 2019

The Impact Of The Durbin Amendment On Banks, Merchants, And Consumers, Vladimir Mukharlyamov, Natasha Sarin

Faculty Scholarship at Penn Law

After the Great Recession, new regulatory interventions were introduced to protect consumers and reduce the costs of financial products. Some voiced concern that direct price regulation was unlikely to help consumers, because banks offset losses in one domain by increasing the prices that they charge consumers for other products. This paper studies this issue using the Durbin Amendment, which decreased the interchange fees that banks are allowed to charge merchants for processing debit transactions. Merchant interchange fees, previously averaging 2 percent of transaction value, were capped at $0.22, decreasing bank revenue by $6.5 billion annually. The objective of ...


One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher Jan 2019

One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher

Economics Faculty Scholarship

This study investigates a potential mechanism to promote coordination. With theoretical guidance using a belief-based learning model, we conduct a multi-period, binary-choice, and weakest-link laboratory coordination experiment to study the effect of gradualism – increasing the required levels (stakes) of contributions slowly over time rather than requiring a high level of contribution immediately – on group coordination performance. We randomly assign subjects to three treatments: starting and continuing at a high stake, starting at a low stake but jumping to a high stake after a few periods, and starting at a low stake while gradually increasing the stakes over time (the Gradualism ...


Mass Atrocities And Their Prevention, Charles H. Anderton, Jurgen Brauer Jan 2019

Mass Atrocities And Their Prevention, Charles H. Anderton, Jurgen Brauer

Economics Department Working Papers

Counting conservatively, and ignoring physical injuries and mental trauma, data show about 100 million mass atrocity-related deaths since 1900. Occurring in war and in peacetime, and of enormous scale, severity, and brutality, they are geographically widespread, occur with surprising frequency, and can be long-lasting in their adverse effects on economic and human development, wellbeing, and wealth. As such, they are a major economic concern. This article synthesizes very diverse and widely dispersed theoretical and empirical literatures, addressing two gaps: a “mass atrocities gap” in the economics literature and an “economics gap” in mass atrocities scholarship. Our goals are, first, for ...


Voting Behavior Among Young Adults: An Analysis Of Youth Voters And How Behavioral Economic Concepts Can Be Applied To Increase Young Voter Turnout, Heather Hall Jan 2019

Voting Behavior Among Young Adults: An Analysis Of Youth Voters And How Behavioral Economic Concepts Can Be Applied To Increase Young Voter Turnout, Heather Hall

Honors College Theses

No abstract provided.


Stock Recommendations In China: Buyer Beware, Singapore Management University Jan 2019

Stock Recommendations In China: Buyer Beware, Singapore Management University

Perspectives@SMU

Research analysts have incentives to issue positive recommendations; social ties with fund managers exert considerable influence


Domestic Violence: The Financial Implications Of Abuse, Yenny Masmela Jan 2019

Domestic Violence: The Financial Implications Of Abuse, Yenny Masmela

Petersheim Academic Exposition

No abstract provided.


The Name Game: The Importance Of Resourcefulness, Ruses, And Recall In Stock Ticker Symbols, Gary N. Smith, Naomi Baer, Erica Barry Jan 2019

The Name Game: The Importance Of Resourcefulness, Ruses, And Recall In Stock Ticker Symbols, Gary N. Smith, Naomi Baer, Erica Barry

Pomona Economics

Previous research reported that a portfolio of stocks with clever ticker symbols outperformed the overall market by a significant margin during the years 1984 to 2005. This paper reports the performance of those stocks during the subsequent years 2006 to 2018, and also investigates the 2006-2008 performance of a new set of clever-ticker stocks. Both clever-ticker portfolios beat the market by a substantial margin, supporting the resiliency of the clever-ticker phenomenon.


Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence Cheng, Li Jing, Rhema Vaithianathan Jan 2019

Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence Cheng, Li Jing, Rhema Vaithianathan

Research Collection School Of Economics

We use novel longitudinal datafrom 19 monthly waves of the Singapore Life Panel to examine the short-termdynamics of the effects health shocks have on household health and non-healthspending and income by the elderly. The health shocks we study are theoccurrence of new major conditions such as cancer, heart problems, and minorconditions (e.g. diabetes, and hypertension). Our empirical strategy exploits unanticipated changesin health status through the diagnosis of new health conditions, combined withan individual fixed effect framework. We find that major shocks have large and persistent effects while minorshocks have small and mainly contemporaneous effects. We find that householdincome reduces ...


Product Concentration And Usage: Behavioral Effects In The Glyphosate Market, Edward D. Perry, David A. Hennessy, Giancarlo Moschini Jan 2019

Product Concentration And Usage: Behavioral Effects In The Glyphosate Market, Edward D. Perry, David A. Hennessy, Giancarlo Moschini

CARD Working Papers

People often ignore or misunderstand information that would help them make better decisions. For products that differ by concentration level, a critical choice concerns the correct dosage rate. We study the effects of changing glyphosate product concentration levels on farmers’ glyphosate usage behavior. Glyphosate is the world’s most widely used herbicide. After glyphosate went off patent in 2000, product variants with higher concentration levels entered the market. Using detailed farmlevel glyphosate use data in U.S. corn and soybeans over the period 1998-2011, we estimate the impact of product concentration levels on glyphosate application rates. We control for prices ...