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Behavioral Economics Commons

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2001

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Articles 1 - 30 of 33

Full-Text Articles in Behavioral Economics

State Regulations Of Smoking In Public Places: Determinants And Implications On The Demand For Smoking And Consumers' Behavior, Ioana Raluca Mazare Dec 2001

State Regulations Of Smoking In Public Places: Determinants And Implications On The Demand For Smoking And Consumers' Behavior, Ioana Raluca Mazare

Dissertations

No abstract provided.


The Effect Of Future Availability Of Information On Willingness To Pay, Jay R. Corrigan Dec 2001

The Effect Of Future Availability Of Information On Willingness To Pay, Jay R. Corrigan

CARD Working Papers

This paper analyzes the effect that potential future availability of information has on willingness to pay in a contingent market characterized by uncertainty and irreversibility. In particular, I test whether the effect is consistent with the predictions of Zhao and Kling's (forthcoming) theory of commitment cost. The analysis is performed using the results of a contingent valuation study designed to estimate the degree to which local residents value improved water quality in Clear Lake, a spring-fed, glacial lake located in north-central Iowa. The results show that willingness to pay is highly sensitive to the potential for future learning. Offering ...


Ex Parte Declaration Of Peter Cramton, Peter Cramton Oct 2001

Ex Parte Declaration Of Peter Cramton, Peter Cramton

Peter Cramton

Further comments on the CMRS spectrum cap. For Leap Wireless.


Salvadoran Consumption Of Ethnic Foods In The United States, S. Patricia Batres-Marquez, Helen H. Jensen, Gary W. Brester Oct 2001

Salvadoran Consumption Of Ethnic Foods In The United States, S. Patricia Batres-Marquez, Helen H. Jensen, Gary W. Brester

CARD Working Papers

The U.S. Salvadoran population is the largest group of Central and South American people living in the United States today. This study investigates the U.S. food market for thirty Salvadoran foods and the demographic characteristics and attitudes of Salvadorans toward these foods, based on data obtained from a survey conducted among Salvadoran people in Los Angeles, California, and Houston, Texas. Those surveyed were predominantly low income, without a high school degree, and living in large families. The Salvadoran foods consumed most were tortilla flour, red beans, loroco, semita, queso duro, and horchata. Four different groups of households were ...


Dynamic Learning In A Two-Person Experimental Game, Charles F. Mason, Owen R. Phillips Aug 2001

Dynamic Learning In A Two-Person Experimental Game, Charles F. Mason, Owen R. Phillips

Charles F Mason

No abstract provided.


The Economic Cost Of Depressive Disorders: Evidence From A Large Midwest Public University, Alketa Hysenbegasi Aug 2001

The Economic Cost Of Depressive Disorders: Evidence From A Large Midwest Public University, Alketa Hysenbegasi

Dissertations

This dissertation aims to estimate the total cost of depression and the benefits of its treatment per diagnosed depressed student in Western Michigan University. To accomplish this, first, I measure the overall impact of depression and the effectiveness of its treatment on the student school performance. The empirical evidence show that diagnosed depression decreases student GPA by 0.48 points (almost a half grade), but this impairment is reduced by treatment about 0.43 points. Further, I develop and validate different measurements of student school performance and I observe that the negative effect of diagnosed depression and the positive effect ...


Uniform Pricing Or Pay-As-Bid Pricing: A Dilemma For California And Beyond, Peter Cramton, Alfred E. Kahn, Robert H. Porter, Richard D. Tabors Jun 2001

Uniform Pricing Or Pay-As-Bid Pricing: A Dilemma For California And Beyond, Peter Cramton, Alfred E. Kahn, Robert H. Porter, Richard D. Tabors

Peter Cramton

Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.


Self-Injurious Behavior As A Window To The Soul: Support For A Will To Power?, Editor Jun 2001

Self-Injurious Behavior As A Window To The Soul: Support For A Will To Power?, Editor

International Bulletin of Political Psychology

This article describes a rationale for self-injurious behavior in the political world


Affidavit Of Peter Cramton, Peter Cramton Jun 2001

Affidavit Of Peter Cramton, Peter Cramton

Peter Cramton

Comment on modifications to installed capability market. For ISO New England.


Non-Employment Benefits And The Evolution Of Worker-Employer Cooperation: Experiments With Real And Computational Agents, Mark Pingle, Leigh Tesfatsion Jun 2001

Non-Employment Benefits And The Evolution Of Worker-Employer Cooperation: Experiments With Real And Computational Agents, Mark Pingle, Leigh Tesfatsion

ISU Economic Report Series

Experiments with real and computational agents are used to examine the impact of changing the level of a non-employment payoff on the evolution of cooperation between workers and employers participating in a sequential employment game with incomplete contracts. Workers either direct work offers to preferred employers or choose unemployment. and receive the non-employment payoff. Subject to capacity limitations, employers either accept work offers from preferred workers or remain-vacant' and receive the non-employment payoff. Matched workers and. employers participate in an employment relationship modeled as a prisoner's dilemma game. • In both types of experiments, increases in the non-employment payoff result ...


Lessons Learned From The Uk 3g Spectrum Auction, Peter Cramton May 2001

Lessons Learned From The Uk 3g Spectrum Auction, Peter Cramton

Peter Cramton

No abstract provided.


Market Effectiveness Assessment, Peter Cramton, Jeffrey Lien May 2001

Market Effectiveness Assessment, Peter Cramton, Jeffrey Lien

Peter Cramton

No abstract provided.


Market Power And Efficiency In A Computational Electricity Market With Discriminatory Double-Auction Pricing, James Nicolaisen, Valentin Petrov, Leigh Tesfatsion Apr 2001

Market Power And Efficiency In A Computational Electricity Market With Discriminatory Double-Auction Pricing, James Nicolaisen, Valentin Petrov, Leigh Tesfatsion

ISU Economic Report Series

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating In the short run under systematically varied concentration and capacity conditions. The pricing of electricity is determined by means of a clearinghouse double auction with discriminator}- midpoint pricing. Buyers and sellers use a modified Roth-Erev individual reinforcement learning algorithm to determine their price and quantity offers in each auction round. It is shown that high market efficiency is generally attained, and that market microstructure is strongly predictive for the relative market power of buyers and sellers independently of the values set for the reinforcement ...


2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, Wt Docket No. 01-14, Federal Communications Commission, "Declaration Of Peter Cramton,", Peter Cramton Apr 2001

2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, Wt Docket No. 01-14, Federal Communications Commission, "Declaration Of Peter Cramton,", Peter Cramton

Peter Cramton

No abstract provided.


Reply Declaration Of Peter Cramton, Peter Cramton Apr 2001

Reply Declaration Of Peter Cramton, Peter Cramton

Peter Cramton

Further comments on the impact of a delayed sale of spectrum license by Pacific Communication. For American Wireless.


Mapping The Discipline Of The Olympic Games: An Author Cocitation Analysis, Peter Warning, Rosie Ching, Kristine Toohey Apr 2001

Mapping The Discipline Of The Olympic Games: An Author Cocitation Analysis, Peter Warning, Rosie Ching, Kristine Toohey

Research Collection School Of Economics

The authors conducted an author cocitation analysis on prominent authors writing about the Olympics during the 1990s. Author cocitation is an established bibliometric technique that can be used to measure the relative similarities of topics written about by the cited authors. This enables a visual representation of the “intellectual space” of the discipline, in this case the Olympics, to be created for the period under review. So core and peripheral research areas are identified, along with their major contributors. The representation appears as a two-dimensional cluster-enhanced map. Subject expertise was then applied to the results to place labels on the ...


Bargaining With Incomplete Information, Peter Cramton, Lawrence M. Ausubel, Raymond J. Deneckere Mar 2001

Bargaining With Incomplete Information, Peter Cramton, Lawrence M. Ausubel, Raymond J. Deneckere

Peter Cramton

A central question in economics is understanding the difficulties that parties have in reaching mutually beneficial agreements. Informational differences provide an appealing explanation for bargaining inefficiencies. This chapter provides an overview of the theoretical and empirical literature on bargaining with incomplete information. The chapter begins with an analysis of bargaining within a mechanism design framework. A modern development is provided of the classic result that, given two parties with independent private valuations, ex post efficiency is attainable if and only if it is common knowledge that gains from trade exist. The classic problems of efficient trade with one-sided incomplete information ...


Declaration Of Peter Cramton, Peter Cramton Mar 2001

Declaration Of Peter Cramton, Peter Cramton

Peter Cramton

Comments on the impact of fronts in the C and F Block Broadband PCS auction.


The Optimality Of Being Efficient, Peter Cramton, Lawrence M. Ausubel Mar 2001

The Optimality Of Being Efficient, Peter Cramton, Lawrence M. Ausubel

Peter Cramton

In an optimal auction, a revenue-optimizing seller often awards goods inefficiently, either by placing them in the wrong hands or by withholding goods from the market. This conclusion rests on two assumptions: (1) the seller can prevent resale among bidders after the auction; and (2) the seller can commit to not sell the withheld goods after the auction. We examine how the optimal auction problem changes when these assumptions are relaxed. In sharp contrast to the no resale assumption, we assume perfect resale: all gains from trade are exhausted in resale. In a multiple object model with independent signals, we ...


Expert Affidavit Of Peter Cramton, Peter Cramton Feb 2001

Expert Affidavit Of Peter Cramton, Peter Cramton

Peter Cramton

Comments on the impact of a delayed sale of spectrum license by Pacific Communication. For American Wireless.


Pricing In The California Power Exchange Electricity Market: Should California Switch From Uniform Pricing To Pay-As-Bid Pricing?, Peter Cramton, Alfred E. Kahn, Robert H. Porter, Richard D. Tabors Jan 2001

Pricing In The California Power Exchange Electricity Market: Should California Switch From Uniform Pricing To Pay-As-Bid Pricing?, Peter Cramton, Alfred E. Kahn, Robert H. Porter, Richard D. Tabors

Peter Cramton

No abstract provided.


Store Choice And Shopping Behavior: How Price Format Works, Chris Tang, David Bell, Teck-Hua Ho Jan 2001

Store Choice And Shopping Behavior: How Price Format Works, Chris Tang, David Bell, Teck-Hua Ho

Marketing Papers

In this paper, we present a perceived shopping utility framework for analyzing the impact of retail price format on store choice, which in turn determines three key performance metrics: (1) number of shoppers, (2) number of trips, and (3) average spending per trip. Our approach is based on the premise that when choosing a store, consumers evaluate both the fixed and variable utilities of shopping. The fixed utility does not vary from trip to trip whereas the variable utility depends on the size and composition of the shopping list. We apply our model to summarize prior findings on store choice ...


Forecasting Repeat Sales At Cdnow: A Case Study, Peter S. Fader, Bruce G. S Hardie Jan 2001

Forecasting Repeat Sales At Cdnow: A Case Study, Peter S. Fader, Bruce G. S Hardie

Marketing Papers

We conducted a modeling exercise in conjunction with the online music retailer CDNOW to develop a simple stochastic model of buyer behavior capable of forecasting medium-term aggregate CD purchasing by a cohort of new customers. We modeled weekly sales using a finite mixture of beta-geometric distributions with a separate time-varying component to capture nonstationarity in repeat buying. The resulting model can easily be implemented within a standard spreadsheet environment (for example, Microsoft Excel). It does a good job of describing the underlying sales patterns and produces an excellent medium-term forecast.


Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones Jan 2001

Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones

Vanderbilt Law School Faculty Publications

A flood of recent scholarship explores legal implications of seemingly irrational behaviors by invoking cognitive psychology and notions of bounded rationality. In this article, I argue that advances in behavioral biology have largely overtaken existing notions of bounded rationality, revealing them to be misleadingly imprecise - and rooted in outdated assumptions that are not only demonstrably wrong, but also wrong in ways that have material implications for subsequent legal conclusions. This can be remedied. Specifically, I argue that behavioral biology offers three things of immediate use. First, behavioral biology can lay a foundation for both revising bounded rationality and fashioning a ...


The Evolution Of Irrationality, Owen D. Jones Jan 2001

The Evolution Of Irrationality, Owen D. Jones

Vanderbilt Law School Faculty Publications

The place of the rational actor model in the analysis of individual and social behavior relevant to law remains unresolved. In recent years, scholars have sought frameworks to explain: a) disjunctions between seemingly rational behavior and seemingly irrational behavior; b) the origins of and influences on law-relevant preferences, and c) the nonrandom development of norms. This Article explains two components of an evolutionary framework that, building from accessible insights of behavioral biology, can encompass all three. The components are: "time-shifted rationality" and "the law of law's leverage."


Carbon: The Next Big Cash Crop?, Hongli Feng, Jinhua Zhao, Catherine L. Kling Jan 2001

Carbon: The Next Big Cash Crop?, Hongli Feng, Jinhua Zhao, Catherine L. Kling

Economics Publications

With the release of the Intergovernmental Panel on Climate Change's (IPCC) revised forecast predicting even greater global warming effects than previously believed, the interest in methods to reduce the atmospheric concentration of greenhouse gases (GHG) is almost certain to grow. Agriculture is unique in that it has the potential to generate greenhouse gases (Schneider and McCarl, 1999), as well as to sequester (or store) large amounts of carbon and other


Why Do We Consume So Much?, Juliet B. Schor Jan 2001

Why Do We Consume So Much?, Juliet B. Schor

Clemens Lecture Series

No abstract provided.


Altruistically Inclined?: The Behavioral Sciences, Evolutionary Theory, And The Origins Of Reciprocity, Alexander J. Field Jan 2001

Altruistically Inclined?: The Behavioral Sciences, Evolutionary Theory, And The Origins Of Reciprocity, Alexander J. Field

Faculty Book Gallery

Altruistically Inclined? examines the implications of recent research in the natural sciences for two important social scientific approaches to individual behavior: the economic/rational choice approach and the sociological/anthropological. It considers jointly two controversial and related ideas: the operation of group selection within early human evolutionary processes and the likelihood of modularity—domain-specific adaptations in our cognitive mechanisms and behavioral predispositions.

Experimental research shows that people will often cooperate in one-shot prisoner's dilemma (PD) games and reject positive offers in ultimatum games, contradicting commonly accepted notions of rationality. Upon first appearance, predispositions to behave in this fashion could ...


Risk, Death And Time: A Comment On Judge Williams’ Defense Of Cost-Benefit Analysis, Matthew D. Adler Jan 2001

Risk, Death And Time: A Comment On Judge Williams’ Defense Of Cost-Benefit Analysis, Matthew D. Adler

Faculty Scholarship

No abstract provided.


On Insider Trading, Markets, And "Negative" Property Rrights In Information, Zohar Goshen, Gideon Parchomovsky Jan 2001

On Insider Trading, Markets, And "Negative" Property Rrights In Information, Zohar Goshen, Gideon Parchomovsky

Faculty Scholarship at Penn Law

No abstract provided.