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Full-Text Articles in Social and Behavioral Sciences
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova
University Avenue Undergraduate Journal of Economics
In my study, I plan to analyze voucher privatization in the Czech Republic. This process is best characterized as decision making under both risk and uncertainty, where the thousands of individuals who initially received vouchers were operating under near total uncertainty while larger institutional investors who later seized control of the vouchers were operating under conditions of risk. I will analyze the resulting patterns of ownership in comparison to the goals of the process. I will also discuss the role of the International Monetary Fund and World Bank as institutions which affect the conditions under which voucher privatization was conducted. …
Are Art Students Nicer Than Economics Students? A Discussion Of How Economic Game Theory Predicts That Art And Economics Students Differ In Terms Of Reciprocity, Abigail Claiborne
Are Art Students Nicer Than Economics Students? A Discussion Of How Economic Game Theory Predicts That Art And Economics Students Differ In Terms Of Reciprocity, Abigail Claiborne
University Avenue Undergraduate Journal of Economics
Neoclassical economic game theory predicts that a player’s goal is to maximize her income regardless of others. In playing the Ultimatum Game this means that Allocators will allocate the minimum amount and the Responders will accept that amount because something is better than nothing. Economics students behave differently because they self-select into that field already thinking as economists do and while studying economics they adapt their behaviors to economic theory. Therefore it is natural to assume that Economics students will act according to theory and that non-economics students will not. The Smith College study between Art students and Economics students …