Download or read book Social and Economic Factors in Decision Making under Uncertainty written by Kinga Posadzy and published by Linköping University Electronic Press. This book was released on 2017-11-16 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this thesis is to improve the understanding of human behavior that goes beyond monetary rewards. In particular, it investigates social influences in individual’s decision making in situations that involve coordination, competition, and deciding for others. Further, it compares how monetary and social outcomes are perceived. The common theme of all studies is uncertainty. The first four essays study individual decisions that have uncertain consequences, be it due to the actions of others or chance. The last essay, in turn, uses the advances in research on decision making under uncertainty to predict behavior in riskless choices. The first essay, Fairness Versus Efficiency: How Procedural Fairness Concerns Affect Coordination, investigates whether preferences for fair rules undermine the efficiency of coordination mechanisms that put some individuals at a disadvantage. The results from a laboratory experiment show that the existence of coordination mechanisms, such as action recommendations, increases efficiency, even if one party is strongly disadvantaged by the mechanism. Further, it is demonstrated that while individuals’ behavior does not depend on the fairness of the coordination mechanism, their beliefs about people’s behavior do. The second essay, Dishonesty and Competition. Evidence from a stiff competition environment, explores whether and how the possibility to behave dishonestly affects the willingness to compete and who the winner is in a competition between similarly skilled individuals. We do not find differences in competition entry between competitions in which dishonesty is possible and in which it is not. However, we find that due to the heterogeneity in propensity to behave dishonestly, around 20% of winners are not the best-performing individuals. This implies that the efficient allocation of resources cannot be ensured in a stiff competition in which behavior is unmonitored. The third essay, Tracing Risky Decision Making for Oneself and Others: The Role of Intuition and Deliberation, explores how individuals make choices under risk for themselves and on behalf of other people. The findings demonstrate that while there are no differences in preferences for taking risks when deciding for oneself and for others, individuals have greater decision error when choosing for other individuals. The differences in the decision error can be partly attributed to the differences in information processing; individuals employ more deliberative cognitive processing when deciding for themselves than when deciding for others. Conducting more information processing when deciding for others is related to the reduction in decision error. The fourth essay, The Effect of Decision Fatigue on Surgeons’ Clinical Decision Making, investigates how mental depletion, caused by a long session of decision making, affects surgeon’s decision to operate. Exploiting a natural experiment, we find that surgeons are less likely to schedule an operation for patients who have appointment late during the work shift than for patients who have appointment at the beginning of the work shift. Understanding how the quality of medical decisions depends on when the patient is seen is important for achieving both efficiency and fairness in health care, where long shifts are popular. The fifth essay, Preferences for Outcome Editing in Monetary and Social Contexts, compares whether individuals use the same rules for mental representation of monetary outcomes (e.g., purchases, expenses) as for social outcomes (e.g., having nice time with friends). Outcome editing is an operation in mental accounting that determines whether individuals prefer to first combine multiple outcomes before their evaluation (integration) or evaluate each outcome separately (segregation). I find that the majority of individuals express different preferences for outcome editing in the monetary context than in the social context. Further, while the results on the editing of monetary outcomes are consistent with theoretical predictions, no existing model can explain the editing of social outcomes.

Download or read book Essays on Social Influences in Economic Decision Making written by Daniel W. Argyle and published by . This book was released on 2014 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 3 Abstract: There has been a recent trend to implement four-day school weeks, especially in rural areas. We show that changing to a four-day school week influences youth criminal activity in jurisdictions where these policies take effect, especially impacting property crime. Focusing on Colorado, where four-day school weeks are especially prevalent, we show that switching all students in a county to a four-day week leads to 0.75 additional juvenile arrests for larceny per 1,000 residents. Effects on other types of crime are inconclusive; estimated signs on drug and violent crimes are negative, although neither attains statistical significance.

Download or read book Essays in Socio Economics written by Amitai Etzioni and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays deal with various aspects of a new, rising field, socio economics. The field is seeking to combine the variables studied by neoclassical economists with those typically studied by other social sciences. The combination is expected to provide a better understanding of economic behavior and the economy as well as society; make more reliable predictions; and be more in line with normative values we seek to uphold. The new field, though, may be less elegant mathematically and possibly less parsimonious than neoclassical economics. Some of my ideas on this subject are included in a previously published book, The Moral Dimension: TowardA New Economics (New York: The Free Press, 1988). They also led to a formation of an international society of several thousand scholars who are interested in the field, the Society for the Advancement of Socio-Economics. The essays at hand are in effect grouped. The first two, previously published respectively in the Journal of Economic Psychology and Business Ethics Quarterly, reflect my most recent thinking. They both have a utopian streak that may stand out especially in these days when unfeathered capitalism is the rage. The first points to people, who far from making consuming ever more their life's project, seek a less affiuent way oflife. It examines the psychological foundations and the social consequences of such an approach.

Download or read book Essays on Social Influences in Decision Making written by Raghabendra Pratap KC and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Social influences on individual decision making processes written by Ferdinand Vieider and published by Rozenberg Publishers. This book was released on 2009 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main focus of this thesis is to combine the multiple findings from social psychology and apply them with an economic approach to decision making. To this purpose, we investigate accountability and its interaction with market mechanisms, more specifically real incentives in experimental settings. This PhD thesis is structured as follows. Chapter 2 studies the effect of accountability on ambiguity aversion-the preference for known over normatively equivalent unknown probabilities. Chapter 3 follows up on the ambiguity aversion issue by studying preference reversals under ambiguity. Chapter 4 examines the influence of accountability on risk attitude. Chapter 5 is of a methodological nature. We separate accountability and incentives, and find several effects. Accountability is found to reduce preference reversals between frames, for which incentives have no effect. Incentives on the other hand are found to reduce risk seeking for losses, where accountability has no effect.

Download or read book Economic Information Decision and Prediction written by M. Marschak and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers of Jacob Marschak which follow in these volumes are an extraordinary combination of original and fruitful departures in economic and social thought, superb clarity of exposition, and sensitivity to the values of earlier work and even competing traditions. They make us marvel alike at their variety, their quantity, and their quality. But they do not, even so, fully reflect Marschak's contributions to the development of social science. He has had an unusual influence as one who exercises leadership. In a formal, organizational sense, this role has been manifest in his capacity as Director of the Cowles Commission for Research in Economics, then at the University of Chicago, in that organization's most productive and influential period, and later in his central role in the Western Management Science Institute, at the University of California at Los Angeles. I can speak from first-hand knowledge about the first. His special capacities are, first, the recognition of promising new concepts and of promising young scholars, and, second, getting his colleagues to join him in developing the ideas and involving them fully in the necessary tasks. There was an unusual combination of strength and humility in his methods; a display of force in pushing the work along but a willingness, almost an insistence, on treating even the most junior associate as a fully equal colleague in intellectual develop ment, whose criticism of himself was to be encouraged. His leadership has been exercised in the absence of formal positions.

Download or read book Economic Theory and Public Decisions written by Robert Dorfman and published by Edward Elgar Publishing. This book was released on 1997 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty-one essays reflect Professor Dorfman's contributions to the analysis of economic theory and public decision making during the last 40 years. The central concern of much of his career has been social decisions: how they are reached, and how they should be judged. Arrangement is in six sections covering statistics, mathematical methods, economic theory, natural resource and environmental economics, social decisions, and the history of economics. Annotation copyrighted by Book News, Inc., Portland, OR

Download or read book Essays on Social Pressure Choice and dis honesty written by Dilan Okcuoglu and published by . This book was released on 2017 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Human behavior is strongly affected by social factors such as norms or social pressure, and economic decision making is not an exception. The impact of self and social image considerations is well documented in decisions ranging from contract enforcement to labor productivity. Therefore, understanding the social and moral dimensions of decisions remains an important topic in economic research. This dissertation includes different approaches, theoretical models and experimental designs, to provide insights regarding the impact of such concerns on both individual and collective choice. In the first chapter, we are interested in the micro-foundations of such concerns, and we explore it by extending the standard choice model to incorporate the social environment in decision making. We define different social environments, each with different social pressure levels a decision maker may feel while deciding. As proposed by experimental findings from different fields of research, the model assumes that individuals are more likely to comply with the norms when the social pressure is higher. We provide an axiomatization of the model and suggest a general form of utility representation. The key point of our representation is characterized by a monotone function which captures the intuition of this compromise in the following way: as social pressure increases the decision maker, if not more, cannot exhibit less concern for social image. Thus, the best option should move towards the norm. This choice data allows us to identify, although partially, the norm that applies to the decision problem at hand. The second chapter, takes the analysis of the previous one, one step further and let us reveal the norm to the full extent. We investigate the behavior of many individuals who have image concerns and have to make decisions in different social contexts. Moreover, by releasing the strict assumption on the alternative set, we provide a simple and natural measure of compromise rate. The final chapter complements the dissertation with experimental data that confirms that people are indeed take into account image considerations. Particularly, we are interested in the impact of advice on the lying behavior of the individuals. Although we don't find any evidence that advice is used to manage one's social image, it can be utilized to ease the psychological cost of dishonest behavior.

Download or read book Economic Means and Social Ends written by Adolph Lowe and published by Prentice Hall. This book was released on 1969 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at the Adolph Lowe symposia held at the New School for Social Research in Feb. and Mar. 1968. Bibliographical footnotes.

Download or read book Kahnemann and Tversky and the making of behavioral economics written by Floris Heukelom and published by Rozenberg Publishers. This book was released on 2009 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Information Decision and Prediction written by M. Marschak and published by Springer. This book was released on 1974-12-31 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers of Jacob Marschak which follow in these volumes are an extraordinary combination of original and fruitful departures in economic and social thought, superb clarity of exposition, and sensitivity to the values of earlier work and even competing traditions. They make us marvel alike at their variety, their quantity, and their quality. But they do not, even so, fully reflect Marschak's contributions to the development of social science. He has had an unusual influence as one who exercises leadership. In a formal, organizational sense, this role has been manifest in his capacity as Director of the Cowles Commission for Research in Economics, then at the University of Chicago, in that organization's most productive and influential period, and later in his central role in the Western Management Science Institute, at the University of California at Los Angeles. I can speak from first-hand knowledge about the first. His special capacities are, first, the recognition of promising new concepts and of promising young scholars, and, second, getting his colleagues to join him in developing the ideas and involving them fully in the necessary tasks. There was an unusual combination of strength and humility in his methods; a display of force in pushing the work along but a willingness, almost an insistence, on treating even the most junior associate as a fully equal colleague in intellectual develop ment, whose criticism of himself was to be encouraged. His leadership has been exercised in the absence of formal positions.

Download or read book A Responsive Society written by Amitai Etzioni and published by Jossey-Bass. This book was released on 1991-11-20 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together seventeen essays on the dynamics of social change published in a wide array of journals over the course of Amitai Etzioni's long and distinguished career. Applying sociological methods of study to seemingly disparate disciplines from ethics to economics, politics to genetics, Etzioni uncovers important interrelationships between these fields.

Download or read book Econometric studies to the economic and social factors of crime written by Sunčica Nikola Vujić and published by Rozenberg Publishers. This book was released on 2009 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Social Networks written by Anja Prummer and published by . This book was released on 2013 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis explores the role of social networks in economic decision making. In the first chapter I am interested in optimal targeting in networks. In particular, I analyze what happens when two opposing lobby groups consider the politician not only as an individual, but as part of a network, who influences other politicians. I model the network structure explicitly and allow for heterogeneous politicians, that is politicians can be in favour of one of the lobby groups or neutral. The optimal targeting strategy depends on how much politicians influence each other, the magnitude of their bias, their centrality in the network and what bias the politicians connected to them have. In the second chapter, we build a theory that connects differences in workers' social networks to disparities in their labour market performance. A worker with more friends, that is someone with more network links (higher degree), has better access to information. A worker whose friends are friends among each other (higher clustering coefficient) faces a higher level of peer pressure. Both access to information and peer pressure affect performance on the job. Our model allows us to rank different networks in terms of job performance. We then proceed to show that men's and women's networks differ. Men have a higher degree than women, but women have a higher clustering coefficient. These network disparities translate into differences in performance as well as wages, thereby offering a novel explanation for the gender wage gap. The third chapter offers a novel explanation for differences in the integration experience of immigrant communities in host societies through a model which emphasises the role of group leaders. We present a model of integration with distinct channels for social influence and skills acquisition and with a role for group leaders that benefit from their groups maintaining a distinct identity. In the long run, full integration is achieved only with flexible leaders, which themselves adapt over time. In the presence of rigid leaders that adopt an inflexible position, integration can remain incomplete, with integration levels higher for individuals of higher ability.

Download or read book Essays on Economic Psychology written by Hermann Brandstätter and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic behavior is explored from a psychological perspective by both, prominent economic psychologists with a long tradition in studying economic problems as well as economists who are open and interested in the psychological aspects of economic behavior. The contributions discuss the prospects and difficulties of this dialogue between psychology and economics and survey some important areas of research where such an interdisciplinary approach has proved to be successful. The text can also be used to introduce psychology to economists in order to give them an idea how to analyze economic problems from a psychological perspective. It also indicates many urgent and exciting research topics awaiting eager scholars to carry on the dialogue.

Download or read book Social Information Acquisition and Decision making with Social Information written by Fabian Johannes Bopp and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Normative Economics written by Abram Bergson and published by . This book was released on 1966 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of essays in economic theory on the concept of welfare - includes papers on problems of econometrics measurement thereof and on the application of welfare theory to socialist economics. References.