Download or read book Essays in Behavioral Economics written by Uri Gneezy and published by . This book was released on 1997 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Behavioral Economics written by George Katona and published by Ann Arbor, Mich. : Survey Research Center, Institute for Social Research, University of Michigan. This book was released on 1980 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Essays on Behavioral Economics written by George Katona and published by . This book was released on with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Four Essays on Behavioral Economics written by Pleßner, Marco and published by kassel university press GmbH. This book was released on 2017 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Key Terms: Behavioral Economics, Behavioral Finance, Experimental Economics

Download or read book Renaissance in Behavioral Economics written by Roger Frantz and published by Routledge. This book was released on 2007-06-14 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists working on behavioral economics have been awarded the Nobel Prize four times in recent years. This book explores this innovative area and in particular focuses on the work of Harvey Leibenstein, one of the pioneers of the discipline. The topics covered in the book include agency theory; dynamic efficiency; evolutionary economics; X-efficiency; the effect of emotions, specifically affect on decision-making; market pricing; experimental economics; human resource management; the Carnegie School, and intra-industry efficiency in less developed countries.

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 in Behavioral Economics written by Yiming Liu and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Behavioral Economics written by Robert Jean Oxoby and published by . This book was released on 2000 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Behavioral Economics written by Joshua Reid Schwartzstein and published by . This book was released on 2010 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Selten School of Behavioral Economics written by Axel Ockenfels and published by Springer Science & Business Media. This book was released on 2010-09-09 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reinhard Selten, to date the only German Nobel Prize laureate in economics, celebrates his 80th birthday in 2010. While his contributions to game theory are well-known, the behavioral side of his scientific work has received less public exposure, even though he has been committed to experimental research during his entire career, publishing more experimental than theoretical papers in top-tier journals. This Festschrift is dedicated to Reinhard Selten’s exceptional influence on behavioral and experimental economics. In this collection of academic highlight papers, a number of his students are joined by leading scholars in experimental research to document the historical role of the “Meister” in the development of the research methodology and of several sub-fields of behavioral economics. Next to the academic insight in these highly active fields of experimental research, the papers also provide a glance at Reinhard Selten’s academic and personal interaction with his students and peers.

Download or read book Essays in Behavioral Economics written by Johannes Abeler and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial literacy motivated reasoning and gender written by Thérèse Lind and published by Linköping University Electronic Press. This book was released on 2019-05-16 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: I wrote this thesis to create a better understanding of how individual characteristics influence our feelings, our behavior and our way of interpreting information. My focus is on financial behavior and financial information, however I also consider a political context. I investigate the (usually) enabling abilities of financial literacy and numeracy. I also consider impediments such as stereotype threat and motivated reasoning, which can prevent people from engaging in certain behaviors or from interpreting information objectively. Both processes stem from valued beliefs and psychological foundations, consequently peoples’ efforts, decisions, and evaluations are based on them. The first essay, “Competence, confidence, and gender: The role of perceived and actual financial literacy in household finance,” broadens our understanding of the benefits of financial competence. I contrast perceived and actual levels of financial literacy, and consider the role of numeracy and cognitive reflective ability. I conclude that perceived and actual levels of financial literacy positively affect behavior and wellbeing; however, perceived financial literacy more so than actual financial literacy. No such effect is observed for numeric ability and cognitive reflection. Furthermore, women are more anxious about financial matters even though they tend to engage more frequently in the considered financial behaviors. The second essay, “Threatening finance? Examining the gender gap in financial literacy,” continues my exploration of the relationship between gender and financial literacy. In a series of studies, I investigate whether the observed gender gap in financial literacy can be identified in nonnumerical contexts, if it can be associated with confidence in financial matters, and if it can be attributed to stereotype threat, which posits that inbuilt prejudices about gender and finance undermine women’s performance of tasks that involve finance. The results show that the observed gender gap in financial literacy is robust even in nonnumerical financial contexts and suggest that a stereotype threat for women in the financial domain might be present. The gender gap in financial literacy could not be attributed to a difference in (displayed) confidence. In the third essay, “Preferences for lump-sum over divided payment structures,” I investigate whether or not people display systematic preferences for lump–sum or divided payment structures and how these preferences differ in gain (benefit) and loss (payment) situations. I investigate what happens when payments belong to a single underlying event, such as when people can choose to pay immediately or in installments. I also examine whether or not individual differences in time preferences, risk preferences, numeracy, and financial literacy are associated with preferences for one payment structure or the other. The aggregate results show a tendency for people to prefer obtaining and paying money in lump sums. I find no systematic indication that the considered individual differences play a role in this type of decision. The fourth essay, “Motivated reasoning when assessing the effect of refugee intake,” inquires into differences in worldview ideology, whether people identify as nationally or globally oriented, hinder them from objectively interpreting information. I use an experiment to find out if people display motivated reasoning when interpreting numerical information about the effects of refugees on the crime rate. Our results show evidence of motivated reasoning along the lines of worldview ideology. However, individuals with higher numeric ability were less likely to engage in motivated reasoning, leading to the conclusion that motivated reasoning is more likely to be driven by feelings and emotional cues than by deliberate analytical processes.

Download or read book Essays in Behavioral Economics written by Janos Zsiros and published by . This book was released on 2016 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two distinct chapters that answer questions in behavioral economics about the relationship between labor supply and reference points. Each chapter is divided into two parts. The first part of the first chapter proposes the theoretical background to better understand labor supply decisions of workers with multiple reference points. The second part contains empirical results from a laboratory experiment. The second chapter analyzes a classical contract theory problem with agents who have non-standard, reference dependent, preferences. The first part of the second chapter analyzes the principal-agent model under full information, while the second part of the chapter introduces uncertainty into the model. The first essay uses a real effort experiment to test the predictions of models with expectation-based and history-based reference points. For the expectationbased reference point, an agent cares about outcomes relative to her expectation, and she experiences a loss in utility if the actual outcome is below her expectation. For the history-based reference point, an agent evaluates her actual outcome compared to an outcome that she had in the past, and she experiences a loss in utility if the actual outcome is below the one from the past. In the experiment, I manipulate participants' past earnings exogenously to establish a history-based reference point and manipulate expectations about future earnings to establish an expectation-based reference point. Consistent with the model's predictions, I found evidence of both kinds of reference points. Subjects work significantly more in the high expectation treatment; on average, they earn $1.1 more (a marginal effect of 18.2%) in the high expectation treatment compared to the average earnings of $6.03 in the low expectation treatment. Subjects in the high history treatment earn $0.46 more (a marginal effect of 7.2%) compared to the average earnings of $6.35 in the low history treatment. The sign of the effect is in line with the main model's prediction for effort level, but the size of the effect is not significantly different from zero due to the low power of the test. The second essay analyzes a principal-agent model with an agent who has reference-dependent preferences with exogenously given reference point over either money or effort level. I find that the optimal effort level, designed by the principal, does not depend on the reference salary. I show that employers with projects where effort is crucial hire agents with high reference points or push up the reference points of agents whose initial reference point is low. Finally, I discuss the predictions of the model for matching between employers and workers based on workers' reference dependence. I show that employers with projects where effort is crucial hire agents with high reference points or push up the reference points of agents whose initial reference point is low. The last part of the essay presents a theoretical model, in which the principal cannot observe the effort level produced by the agent, and is thus unable to make the optimal wage contract depend upon it. I analyze the Lagrangian corresponding to the problem with uncertainty and I derive conditions for the optimal wage contract and optimal effort level.

Download or read book Essays in Behavioral Economics written by Avner Strulov-Shlain and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Behavioral Economics written by Florian Zimmermann and published by . This book was released on 2013 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Behavioral Economics written by Bradford Tuckfield and published by . This book was released on 2015 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is on topics in behavioral economics. It contains two chapters that are methodologically and topically distinct.