Digital Commons Network^™

Longer-Run Effects Of Antipoverty Policies On Disadvantaged Neighborhoods, David Neumark, Brian J. Asquith, Brittany Bass

Brian Asquith

We estimate the longer-run effects of minimum wages, the Earned Income Tax Credit, and welfare on key economic indicators of economic self-sufficiency in disadvantaged neighborhoods. We find that the longer-run effects of the EITC are to increase employment and to reduce poverty and public assistance. We also find some evidence that higher welfare benefits had longer-run adverse effects, and quite robust evidence that tighter welfare time limits reduce poverty and public assistance in the longer run. The evidence on the long-run effects of the minimum wage on poverty and public assistance is not robust, with some evidence pointing to reductions …

Bitcoin As A Global Currency: Exploring The Wild West Of Cryptocurrency.Docx, Ben Feola

Ben Feola

Strategic Ignorance In Sequential Procurement, Silvana Krasteva, Huseyin Yildirim

Huseyin Yildirim

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largely overtaken existing notions of bounded rationality, revealing them to be misleadingly imprecise - and rooted in outdated assumptions that are not only demonstrably wrong, but also wrong in ways that have material implications for subsequent legal conclusions.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 …

The Evolution Of Irrationality, Owen D. Jones

Owen Jones

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."

Endowment Effects In Chimpanzees, Owen D. Jones, Sarah F. Brosnan, Susan P. Lambeth, Mary Catherine Mareno, Amanda S. Richardson, Steven Schapiro

Owen Jones

Human behavior is not always consistent with standard rational choice predictions. The much-investigated variety of apparent deviations from rational choice predictions provides a promising arena for the merger of economics and biology. Although little is known about the extent to which other species also exhibit these seemingly irrational patterns of human decision-making and choice behavior, similarities across species would suggest a common evolutionary root to the phenomena.

The present study investigated whether chimpanzees exhibit an endowment effect, a seemingly paradoxical behavior in which humans tend to value a good they have just come to possess more than they would have …

Building An Equitable And Inclusive City Through Housing Policies: Singapore's Experience, S Y Phang

PHANG Sock Yong

No abstract provided.

Law, Biology, And Property: A New Theory Of The Endowment Effect, Owen D. Jones, Sarah F. Brosnan

Owen Jones

Recent work at the intersection of law and behavioral biology has suggested numerous contexts in which legal thinking could benefit by integrating knowledge from behavioral biology. In one of those contexts, behavioral biology may help to provide theoretical foundation for, and potentially increased predictive power concerning, various psychological traits relevant to law. This Article describes an experiment that explores that context.

The paradoxical psychological bias known as the endowment effect puzzles economists, skews market behavior, impedes efficient exchange of goods and rights, and thereby poses important problems for law. Although the effect is known to vary widely, there are at …

Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith

Owen Jones

Society uses law to encourage people to behave differently than they would behave in the absence of law. This fundamental purpose makes law highly dependent on sound understandings of the multiple causes of human behavior. The better those understandings, the better law can achieve social goals with legal tools. In this Article, Professors Jones and Goldsmith argue that many long held understandings about where behavior comes from are rapidly obsolescing as a consequence of developments in the various fields constituting behavioral biology. By helping to refine law's understandings of behavior's causes, they argue, behavioral biology can help to improve law's …

Globalization And Taxation: Theory And Evidence, Priyaranjan Jha, Giray Gozgor

Priya Ranjan

Increasing Beneficiary Retention In Food Assistance Programs, Colin Gray, Christopher J. O'Leary

Christopher J. O'Leary

No abstract provided.

A Regulatory Arbitrage Game: Off-Balance-Sheet Leverage And Financial Fragility., Dimitris Voliotis

Dimitris Voliotis

This study examines a simple banking system in a game-theoretic frameworkwherein banks act as self-interested agents to maximize leverage at the expenseof overall financial stability. The resultant strategic inefficiency raises concernsabout how banks manage the “financial stability” good, which is appropriated intoa “tragedy of the commons”. We conceptualize the inefficiency using the -priceof anarchy- introduced by Koutsoupias and Papadimitriou [2009].We seek the optimal regulatory framework that minimizes the -price of anarchy- or the degree offinancial fragility.

A Study Of The Effects Of Certificate Of Need Law On Inpatient Occupancy Rates, Jomon Aliyas Paul, Huan Ni, Aniruddha Bagchi

Aniruddha Bagchi

Alternative Measures Of Non-Cognitive Skills And Their Effect On Retirement Preparation And Financial Capability, Gema Zamarro

Gema Zamarro

Increasing Stem Undergraduate Participation In Innovative Activities: Field Experimental Evidence, Joshua Graff Zivin, Elizabeth Lyons

Joshua Graff Zivin

No abstract provided.

The Effects Of Natural Resource Dependence And Democracy On The Incremental Budgeting Theory And Punctuated Equilibrium Within A Budgetary Context, Barrak Algharabali

Barrak Algharabali

Does Science Advance One Funeral At A Time?, Joshua Graff Zivin, Pierre Azoulay, Christian Fons-Rosen

Joshua Graff Zivin

No abstract provided.