Open Access. Powered by Scholars. Published by Universities.®

Behavioral Economics Commons

Open Access. Powered by Scholars. Published by Universities.®

1,891 Full-Text Articles 1,955 Authors 522,010 Downloads 166 Institutions

All Articles in Behavioral Economics

Faceted Search

1,891 full-text articles. Page 2 of 62.

Information Order In Monotone Decision Problems Under Uncertainty, Jian Li, Junjie Zhou 2019 Iowa State University

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 ...


Matching With Generalized Lexicographic Choice Rules, Orhan Aygün, Bertan Turhan 2019 Bogaziçi University

Matching With Generalized Lexicographic Choice Rules, Orhan Aygün, Bertan Turhan

Economics Working Papers

Motivated by the need for real-world matching problems, this paper formulates a large class of practical choice rules, Generalized Lexicographic Choice Rules (GLCR), for institutions that consist of multiple divisions. Institutions fill their divisions sequentially, and each division is endowed with a sub-choice rule that satisfies classical substitutability and size monotonicity in conjunction with a new property that we introduce, quota monotonicity. We allow rich interactions between divisions in the form of capacity transfers. The overall choice rule of an institution is defined as the union of the sub-choices of its divisions. The cumulative offer mechanism (COM) with respect to ...


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

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 ...


Barriers: An Exploration Of Architectural Structures As An Indication Of Wealth And Socioeconomic Status, Lisa DeMoranville 2019 Union College - Schenectady, NY

Barriers: An Exploration Of Architectural Structures As An Indication Of Wealth And Socioeconomic Status, Lisa Demoranville

Honors Theses

I decided to explore the barriers and limitations of wealth through an investigation of architectural structures, focusing on popular industries and institutions on which our society commonly depends. I have noticed that places such as hospitals, schools, grocery stores, and restaurants differ dramatically depending on the neighborhoods in which they were located. This topic sparked my interest after living in Lima, Peru for a month, as I was able to observe the developing economy and dramatic division of wealth among the population. Certain questions about the divides and differences within a society and its culture started crossing my mind; not ...


Tax Uncertainty And Business Activity, Jungho LEE, Jianhuan XU 2019 Singapore Management University

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.


Estimating Auction Equilibria Using Individual Evolutionary Learning, Kevin James 2019 Chapman University

Estimating Auction Equilibria Using Individual Evolutionary Learning, Kevin James

Computational and Data Sciences (Ph.D.) Dissertations

I develop the Generalized Evolutionary Nash Equilibrium Estimator (GENEE) library. The tool is designed to provide a generic computational library for running genetic algorithms and individual evolutionary learning in economic decision-making environments. Most importantly, I have adapted the library to estimate equilibria bidding functions in auctions. I show it produces highly accurate estimates across a large class of auction environments with known solutions. I then apply GENEE to estimate the equilibria of two additional auctions with no known solutions: first-price sealed-bid common value auctions with multiple signals, and simultaneous first-price auctions with subadditive values


The Unpredictable Positive Effects Of Sports Gambling: Gamblers Think Losing Feels Worse Than It Actually Feels, Guy Voichek, Nathan Novemsky 2019 Yale University

The Unpredictable Positive Effects Of Sports Gambling: Gamblers Think Losing Feels Worse Than It Actually Feels, Guy Voichek, Nathan Novemsky

International Conference on Gambling & Risk Taking

Implications statement

Gamblers underestimate how much fun small wagers add to enjoying sports events. They think losing will feel worse than it really does. Simple reminder can correct this misprediction.

Abstract

When considering whether to gamble on a sporting event, people may ask themselves how winning or losing will affect their experience. In a series of four experiments, we find that people under-appreciate the positive effect of gambling on watching sporting events, in a way that causes them to under-value the opportunity to place a small stakes gamble. While participants predict that a gamble will enhance or diminish an experience ...


Does Near Win Affect People's Investment Behavior?, Jia Yuan 2019 University of Macau

Does Near Win Affect People's Investment Behavior?, Jia Yuan

International Conference on Gambling & Risk Taking

Near win is a special kind of failure that comes closely to actual success. It shows up frequently in people’s investment behavior. Only a few studies have researched on the relation between near win and its impact on the future investment. And in the literature, there are conflicting results on this issue. In this paper, we examine the effect of near win on people’s investment amount by exploiting a unique panel individual level lottery purchase data with over 100,000 players which trace each of their purchases for several months. We find that people who have experienced a ...


Gambling Behavior In Controlled Laboratory Experiments, Don Ross, J. Todd Swarthout 2019 University College Cork, University of Cape Town

Gambling Behavior In Controlled Laboratory Experiments, Don Ross, J. Todd Swarthout

International Conference on Gambling & Risk Taking

We designed a slot machine interface to study gambling behavior over real monetary amounts in a controlled laboratory environment. The interface allowed us to study the effect of multiple playlines compared to single playlines, the use of abstract tokens instead of allowing the gambler to see expenditures and payoffs in a natural currency, the effect of “near miss” displays on subjective beliefs about the chances of winning, and the effect of “wins disguised as losses” on gambling behavior. We measured the risk preferences of each subject, allowing for probability weighting and loss aversion, as well as the evolution of subjective ...


Competition And Cooperation In Polygynous & Monogamous Households: Experimental Evidence From Sierra Leone, Bethany Gerdemann 2019 The University of San Francisco

Competition And Cooperation In Polygynous & Monogamous Households: Experimental Evidence From Sierra Leone, Bethany Gerdemann

Master's Theses

Competition and cooperation in polygynous households have both been widely documented across various disciplines. There is contradictory evidence as to whether these interpersonal dynamics produce better or worse outcomes for the household. This study uses a competitiveness game and a series of dictator games to measure competition and cooperation within households and between marriage types. Results show that there are key differences between monogamy and polygyny. Monogamous women compete less with their husbands than stranger and less in comparison to polygynous women. Monogamous spouses are more likely to forgo economic opportunities than polygynous spouses and have a greater preference for ...


The Effect Of Disability Status On Parental Input: A Study From India, Susann Skjoldhorne 2019 The University of San Francisco

The Effect Of Disability Status On Parental Input: A Study From India, Susann Skjoldhorne

Master's Theses

Human capital has for a long time been an important factor in economic growth theory. Previous literature shows a strong connection between parental input and the level of human capital attained by a child. The investment in child health and education has a positive effect on building human capital. When resources are scarce the allocation of resources will affect the opportunities that a child is given to achieve their potential. Gender preferences, birth order, and disabilities could all be factors that explain how parents chose to allocate their resources. Previous studies show that the distribution of parental input based on ...


The Behavioral Determinants Of Well-Being In Sierra Leone, Madison Levine 2019 The University of San Francisco

The Behavioral Determinants Of Well-Being In Sierra Leone, Madison Levine

Master's Theses

Ensuring the needs of individuals are met leads to a more prosperous economy. Healthy economic activity is dependent on a supported community of people. These people express different levels of happiness depending on where they come from and make behavioral choices every day influenced by their association with their community. Currently most subjective data have come from western educated industrialized rich and democratic (WEIRD) areas. These results are placed as generalizations across all other countries and are not giving an adequate representation of well-being for the population in non-WEIRD areas. Our study outlines an in-depth survey covering subjective well-being measurements ...


A Statistical Analysis Of Economic Perceptions In The 2015 United Kingdom General Election, Amarvir Singh-Bal Mr. 2019 Durham University

A Statistical Analysis Of Economic Perceptions In The 2015 United Kingdom General Election, Amarvir Singh-Bal Mr.

Undergraduate Economic Review

This paper characterises the vote which took place in the United Kingdom's (U.K.) 2015 General Election as an ‘accountability instrument.’ In doing so, the research interrogates which sections of the electorate hold the incumbent government more accountable for economic outcomes between the 2010 and 2015 U.K. General Elections. The Rational Choice Theory and the Michigan Model are used in this study to present two interlinked, and yet distinct, hypotheses – that less politically informed and non-partisan voters are more likely to hold the government accountable for economic performances; compared to the politically informed and partisan voters within the ...


How Deep Is Your Love? Loss Aversion In Dating Markets, Genevieve B. Gregorich 2019 Macalester College

How Deep Is Your Love? Loss Aversion In Dating Markets, Genevieve B. Gregorich

Undergraduate Economic Review

This study uses experimental evidence to examine the existence of loss aversion in the dating market. Applying a valuation gap experiment, this study finds that people are loss averse when it comes to dating opportunities, meaning people weigh the loss of a dating opportunity more heavily than an equivalent gain. The results also support the hypothesis that people experience more loss aversion when they have fewer dating opportunities available. This finding provides preliminary evidence that the existence and growing prevalence of online dating, which dramatically increases peoples’ access to dating opportunities, reduces loss aversion, therefore increasing turnover in the market.


Justice Begins Before Trial: How To Nudge Inaccurate Pretrial Rulings Using Behavioral Law And Economic Theory And Uniform Commercial Laws, Michael Gentithes 2019 College of William & Mary Law School

Justice Begins Before Trial: How To Nudge Inaccurate Pretrial Rulings Using Behavioral Law And Economic Theory And Uniform Commercial Laws, Michael Gentithes

William & Mary Law Review

Injustice in criminal cases often takes root before trial begins. Overworked criminal judges must resolve difficult pretrial evidentiary issues that determine the charges the State will take to trial and the range of sentences the defendant will face. Wrong decisions on these issues often lead to wrongful convictions. As behavioral law and economic theory suggests, judges who are cognitively busy and receive little feedback on these topics from appellate courts rely upon intuition, rather than deliberative reasoning, to resolve these questions. This leads to inconsistent rulings, which prosecutors exploit to expand the scope of evidentiary exceptions that almost always disfavor ...


Examining Citizens' Preferences For Aquaculture Using Discrete Choice Experiments, Olga Bredikhina 2019 University of Maine

Examining Citizens' Preferences For Aquaculture Using Discrete Choice Experiments, Olga Bredikhina

Electronic Theses and Dissertations

Over the last few decades, discrete choice experiments (DCEs) have become increasingly popular across different subfields of economics as a way to elicit citizens‟ stated preferences for product and service attributes as well as various environmental and infrastructure features. The DCE framework could be seen as a time- and cost-effective alternative to the revealed preferences framework that is based on data obtained using transactions observed in real-world markets. DCEs offer the advantage over revealed preferences data because they allow learning about consumer preferences for hypothetical products or product attributes without bearing the costs of introducing new products to the market ...


Local Food Policy & Consumer Food Cooperatives: Evolutionary Case Studies, Afton Hupper 2019 University of Maine - Main

Local Food Policy & Consumer Food Cooperatives: Evolutionary Case Studies, Afton Hupper

Electronic Theses and Dissertations

Darwin’s theory of natural selection has played a central role in the development of the biological sciences, but evolution can also explain change in human culture. Institutions, mechanisms that govern behavior and social order, are important subjects of cultural evolution. Institutions can help stabilize cooperation, defined as behavior that benefits others, often at a personal cost. Cooperation is important for solving social dilemmas, scenarios in which the interests of the individual conflict with those of the group. A number of mechanisms by which institutions evolve to support cooperation have been identified, yet theoretical models of institutional change have rarely ...


Playing Games To Improve Conceptual Understanding And Cooperation In Social Dilemmas., Jason R Bush 2019 University of Louisville

Playing Games To Improve Conceptual Understanding And Cooperation In Social Dilemmas., Jason R Bush

College of Arts & Sciences Senior Honors Theses

People make decisions every day that have significant impact on others. The current experiment investigates the learning and decision-making processes involved when small groups confront a complex social dilemma under different learning conditions designed to imitate common educational interventions used in classrooms and non-laboratory settings. Participants (N=96) were randomly assigned to one of three conditions. In the Explore-First condition (n=32), participants played one round of a simulated social dilemma board game before receiving a lesson on social dilemmas, then played a second round. In the Lesson-First condition (n=32), participants received the lesson before playing the game. In ...


An Exploratory Study Of The Impact Of Acculturation On Fashion Consumption Among Hispanic Immigrants In The U.S., Laura Toloza 2019 University of Arkansas, Fayetteville

An Exploratory Study Of The Impact Of Acculturation On Fashion Consumption Among Hispanic Immigrants In The U.S., Laura Toloza

Theses and Dissertations

With a population of 58 million in 2016, the Hispanic immigrant population in the U.S. is expected to grow nearly 30% by 2060 (Hispanic influence, 2016). Immigrants are affected by acculturation and often have difficulty maintaining their culture of origin. Prior studies have revealed acculturation influences on consumer behaviors, but despite the increased population and purchasing power of Hispanic immigrants in the U.S., few studies have explored the ways in which acculturation influences shopping behaviors for fashion products among Hispanic consumers. The purpose of this study is to explore the general attitude related to shopping (i.e., shopping ...


Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones 2019 Selected Works

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

Owen Jones

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 ...


Digital Commons powered by bepress