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Full-Text Articles in Social and Behavioral Sciences

Behavioral Economics And Monetary Wisdom: A Cross-Level Analysis Of Monetary Aspiration, Pay (Dis)Satisfaction, Risk Perception, And Corruption In 32 Nations, Thomas Li-Ping Tang, Zhen Li, Mehmet Ferhat Özbek, Vivien K. G. Lim, Thompson S. H. Teo, Mahfooz A. Ansari, Toto Sutarso, Ilya Garber, Randy Ki-Kwan Chiu, Brigitte Charles-Pauvers, Caroline Urbain, Roberto Luna-Arocas, Jingqiu Chen, Ningyu Tang, Theresa Li-Na Tang, Fernando Arias-Galicia, Consuelo Garcia De La Torre, Peter Vlerick, Adebowale Akande, Abdulqawi Salim Al-Zubaidi, Ali Mahdi Kazem, Mark G. Borg, Bor-Shiuan Cheng, Linzhi Du, Abdul Hamid Safwat Ibrahim, Kilsun Kim, Eva Malovics, Richard T. Mpoyi, Obiajulu Anthony Ugochukwu Nnedum, Elisaveta Gjorgji Sardžoska, Michael W. Allen, Rosário Correia, Chin-Kang Jen, Alice S. Moreira, Johnston E. Osagie, Aahad M. Osman-Gani, Ruja Pholsward, Marko Polic, Petar Skobic, Allen F. Stembridge, Luigina Canova, Anna Maria Manganelli, Adrian H. Pitariu, Francisco José Costa Pereira Mar 2023

Behavioral Economics And Monetary Wisdom: A Cross-Level Analysis Of Monetary Aspiration, Pay (Dis)Satisfaction, Risk Perception, And Corruption In 32 Nations, Thomas Li-Ping Tang, Zhen Li, Mehmet Ferhat Özbek, Vivien K. G. Lim, Thompson S. H. Teo, Mahfooz A. Ansari, Toto Sutarso, Ilya Garber, Randy Ki-Kwan Chiu, Brigitte Charles-Pauvers, Caroline Urbain, Roberto Luna-Arocas, Jingqiu Chen, Ningyu Tang, Theresa Li-Na Tang, Fernando Arias-Galicia, Consuelo Garcia De La Torre, Peter Vlerick, Adebowale Akande, Abdulqawi Salim Al-Zubaidi, Ali Mahdi Kazem, Mark G. Borg, Bor-Shiuan Cheng, Linzhi Du, Abdul Hamid Safwat Ibrahim, Kilsun Kim, Eva Malovics, Richard T. Mpoyi, Obiajulu Anthony Ugochukwu Nnedum, Elisaveta Gjorgji Sardžoska, Michael W. Allen, Rosário Correia, Chin-Kang Jen, Alice S. Moreira, Johnston E. Osagie, Aahad M. Osman-Gani, Ruja Pholsward, Marko Polic, Petar Skobic, Allen F. Stembridge, Luigina Canova, Anna Maria Manganelli, Adrian H. Pitariu, Francisco José Costa Pereira

Faculty Publications

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level …

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A Survey Of Retail Trade Patterns In South Dakota: 2012-2021, Rand E. Wergin Oct 2022

A Survey Of Retail Trade Patterns In South Dakota: 2012-2021, Rand E. Wergin

Faculty Publications

This paper provides an analysis of retail sales and retail trade in the state of South Dakota for the years 2012 to 2021. This analysis will provide valuable information to community leaders in the cities and towns of South Dakota. Along with measures such as unemployment and inflation, Retail Pull (RP) provides a measure of community’s economic health. For example, retail is often the largest employer in a city, particularly the smaller communities of South Dakota, and a robust retail sector provides a tax base to support community services. Thus, the economic health of the community depends on the viability …

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Incentivizing Innovation: Promoting Technical Competency To Win Future Wars., James E. Bevins Oct 2022

Incentivizing Innovation: Promoting Technical Competency To Win Future Wars., James E. Bevins

Faculty Publications

Despite numerous studies and initiatives, most current Air Force efforts to add science and technology talent have been insufficient. This begs the question: How does the Air Force incentivize and promote the necessary technical competence required to win future competition, conflicts, and wars? Several key initiatives, grounded in behavioral economics, can incentivize innovation and pursue science and technology expertise. Developed in the context of peer adversaries’ actions; global trends in technology, competition, and conflict; and the global competition for science and technology talent, these recommendations have the potential to reform institutional culture and unleash the creativity and talent of the …

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Parochial Altruism And Political Ideology, Marilynn B. Brewer, Nancy R. Buchan, Orgul D. Ozturk, Gianluca Grimalda Jul 2022

Parochial Altruism And Political Ideology, Marilynn B. Brewer, Nancy R. Buchan, Orgul D. Ozturk, Gianluca Grimalda

Faculty Publications

Parochial altruism refers to the propensity to direct prosocial behavior toward members of one's own ingroup to a greater extent than toward those outside one's group. Both theory and empirical research suggest that parochialism may be linked to political ideology, with conservatives more likely than liberals to exhibit ingroup bias in altruistic behavior. The present study, conducted in the United States and Italy, tested this relationship in the context of the COVID-19 pandemic, assessing willingness to contribute money to charities at different levels of inclusiveness—local versus national versus international. Results indicated that conservatives contributed less money overall and were more …

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Signals From On High And The Power Of Growth Mindset: A Natural Field Experiment In Attracting Minorities To High-Profile Position, Jeffrey A. Flory, Andreas Leibbrandt, Christina Rott, Olga B. Stoddard Jan 2022

Signals From On High And The Power Of Growth Mindset: A Natural Field Experiment In Attracting Minorities To High-Profile Position, Jeffrey A. Flory, Andreas Leibbrandt, Christina Rott, Olga B. Stoddard

Faculty Publications

We conduct a large-scale natural field experiment with a Fortune 500 company to test several approaches to attract minorities to high-profile positions. 5,000 prospective applicants were randomized into treatments varying a portion of recruiting materials. We find that self-selection at two early-career stages exhibits a substantial race gap. Importantly, we show that this gap can be strongly influenced by several treatments, with some increasing application rates by minorities by 40 percent and others being particularly effective for minority women. The heterogeneities we find by gender, race, and career stage shed light on the underlying drivers of self-selection barriers among minorities.

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Strength In Numbers: A Field Experiment In Gender, Influence, And Group Dynamics, Olga B. Stoddard, Christopher F. Karpowitz, Jessica Preece Jan 2022

Strength In Numbers: A Field Experiment In Gender, Influence, And Group Dynamics, Olga B. Stoddard, Christopher F. Karpowitz, Jessica Preece

Faculty Publications

Policy interventions to increase women’s presence in the workforce and leadership positions vary in their intensity, with some including a lone or token woman and others setting higher quotas. However, little is known about how the resulting group gender compositions influence individuals’ experiences and broader workplace dynamics. In this paper, we investigate whether token women are disadvantaged compared to women on majority-women mixed-gender teams. We conducted a multi-year field experiment with a top-10 undergraduate accounting program that randomized the gender composition of semester-long teams. Using laboratory, survey, and administrative data, we find that even after accounting for their proportion of …

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Exposure To Covid-19 Is Associated With Increased Altruism, Particularly At The Local Level, Gianluca Grimalda, Nancy R. Buchan, Orgul D. Ozturk, Adriana C. Pinate, Giulia Urso, Marilynn B. Brewer Sep 2021

Exposure To Covid-19 Is Associated With Increased Altruism, Particularly At The Local Level, Gianluca Grimalda, Nancy R. Buchan, Orgul D. Ozturk, Adriana C. Pinate, Giulia Urso, Marilynn B. Brewer

Faculty Publications

Theory posits that situations of existential threat will enhance prosociality in general and particularly toward others perceived as belonging to the same group as the individual (parochial altruism). Yet, the global character of the COVID-19 pandemic may blur boundaries between ingroups and outgroups and engage altruism at a broader level. In an online experiment, participants from the U.S. and Italy chose whether to allocate a monetary bonus to a charity active in COVID-19 relief efforts at the local, national, or international level. The purpose was to address two important questions about charitable giving in this context: first, what influences the …

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A Dichotomy Of Sport Sponsorships: Does The Nature Of Competition Among Sponsors Matter?, Thomas Doellman, Brian Walkup, Adrien Bouchet, Brian Chabowski Sep 2021

A Dichotomy Of Sport Sponsorships: Does The Nature Of Competition Among Sponsors Matter?, Thomas Doellman, Brian Walkup, Adrien Bouchet, Brian Chabowski

Faculty Publications

In this paper, we argue that the firm value implications of sport sponsorships for sponsors may depend on the competitive environment during the bidding process for different types of sponsorships. More specifically, we contend that the bidding environment for professional football (soccer) kit sponsorships represents a form of common value auction, while the bidding environment for corporate logo sponsorships on teams’ shirts does not. As common value auctions are prone to winner’s curse, the firm value implications should be different for kit sponsorship announcements than for shirt sponsorship announcements. Our results suggest that shareholders indeed perceive the value derived from …

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Introduction To The Special Issue On Couples, Families, And Finance, Melissa A. Curran, Ashley B. Lebaron, Xiaomin Li, Casey J. Totenhagen May 2021

Introduction To The Special Issue On Couples, Families, And Finance, Melissa A. Curran, Ashley B. Lebaron, Xiaomin Li, Casey J. Totenhagen

Faculty Publications

For the nine papers that appear in this special issue, we identified three main organizing themes: (1) Understudied aspects of family financial socialization, (2) Individuals or couples in different-sex romantic relationships, and (3) Finances and perceived parent–child relationships. In this introduction, we describe the main points of each of these papers within each theme. We also discuss what we have learned from these papers (e.g., finances assessed using eight different datasets; range of samples including adults repaying loans, newlywed couples, and a nationally representative sample of U.S. college students) as well as what future research questions remain (e.g., financial studies …

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Finances, Depressive Symptoms, Destructive Conflict, And Coparenting Among Lower-Income, Unmarried Couples: A Two-Wave, Cross-Lagged Analysis, Melissa A. Curran, Xiaomin Li, Melissa Barnett, Olena Kopstynska, Alexa B. Chandler, Ashley B. Lebaron Mar 2021

Finances, Depressive Symptoms, Destructive Conflict, And Coparenting Among Lower-Income, Unmarried Couples: A Two-Wave, Cross-Lagged Analysis, Melissa A. Curran, Xiaomin Li, Melissa Barnett, Olena Kopstynska, Alexa B. Chandler, Ashley B. Lebaron

Faculty Publications

Following from an adapted family stress model (FSM), we used two-wave, secondary data from the Building Strong Families project, focusing on 4,424 primarily lower-income, unmarried couples expecting their first child together. We used cross-lagged analyses to test the directionality of the associations among financial difficulties, depressive symptoms, destructive interparental conflict, and coparenting alliance for both fathers and mothers when children were 15 and 36 months old. Two of the three hypotheses provided support for the FSM. First, destructive conflict predicted coparenting alliance (but not the reverse). Specifically, higher destructive conflict at 15 months for both fathers and mothers predicted lower …

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Japan's Stock Market Performance: Evidence From Toda-Yamamoto And Dolado-Lutkepohl Tests For Multivariate Granger Causality, Kishor K. Guru-Gharana, Matiur Rahman, Anisul M. Islam Jan 2021

Japan's Stock Market Performance: Evidence From Toda-Yamamoto And Dolado-Lutkepohl Tests For Multivariate Granger Causality, Kishor K. Guru-Gharana, Matiur Rahman, Anisul M. Islam

Faculty Publications

This paper empirically examines the causal linkages of Japan's stock market (proxied by Nikkei 225 index) performance with selected key macroeconomic fundamentals. Relatively recent Toda-Yamamoto and Dolado-Lutkepohl, multivariate Granger causality tests are implemented. Monthly time series data from September 1974 to February 2017 with a large sample size of 510 monthly observations covering the floating exchange rate regime were utilized. The study documents some interesting and some unexpected results. Bi-directional causality is evidenced only between the stock market and the industrial production. Somewhat counterintuitively, unidirectional causality runs from stock market to money supply. Furthermore, unidirectional causality flows from interest rate …

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Caregiver Treatment Consumption In An Experimental Treatment Marketplace, Delaney J. Darragh Jan 2021

Caregiver Treatment Consumption In An Experimental Treatment Marketplace, Delaney J. Darragh

Faculty Publications

Behavioral economics is an approach to understanding consumer behavior by integrating behavioral science with economic principles. Behavioral economics incorporates traditional economic principles with operant learning approaches. There is limited research examining how individuals consume psychological and behavioral treatments. This is especially the case for treatments designed for children. The current study used data from a previously collected sample to explore gender differences in an experimental treatment marketplace (ETM). Experimental treatment marketplaces are generally used to evaluate choices between goods and services (e.g., types of behavior interventions). An ETM was developed to evaluate treatment consumption when levels of evidence differed between …

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Rationalizing Self-Defeating Behaviors: Theory And Evidence, Lars J. Lefgren, Olga B. Stoddard Jan 2021

Rationalizing Self-Defeating Behaviors: Theory And Evidence, Lars J. Lefgren, Olga B. Stoddard

Faculty Publications

Why do individuals engage in self-defeating behaviors like self-harm, addiction, and risky sexual behaviors? Why do they experience the apathy of depression or inaction when trapped by multiple competing problems? We propose a framework for explaining these and other related behaviors based on the insight that individuals can only experience a limited number of latent stimuli to which they are exposed. We conduct an experiment to test this model and find that more than two thirds of the subjects behave consistent with our theoretical framework.

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Increasing Workplace Diversity: Evidence From A Recruiting Experiment At A Fortune 500 Company, Jeffrey A. Flory, Andreas Leibbrandt, Christina Rott, Olga B. Stoddard Jan 2021

Increasing Workplace Diversity: Evidence From A Recruiting Experiment At A Fortune 500 Company, Jeffrey A. Flory, Andreas Leibbrandt, Christina Rott, Olga B. Stoddard

Faculty Publications

While many firms have set ambitious goals to increase diversity in their ranks, there is a dearth of empirical evidence on effective ways to reach them. We use a natural field experiment to test several hypotheses on effective means to attract minority candidates for top professional careers. By randomly varying the content in recruiting materials of a major financial services corporation with more than 10,000 employees, we find that signaling explicit interest in employee diversity more than doubles the interest in openings among racial minority candidates, as well as the likelihood that they apply and are selected. Impacts on gender …

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Financial Socialization: A Decade In Review, Ashley B. Lebaron, Heather H. Kelly Nov 2020

Financial Socialization: A Decade In Review, Ashley B. Lebaron, Heather H. Kelly

Faculty Publications

The financial socialization individuals receive is associated not only with their future financial wellbeing but also relational, mental, and physical wellbeing. This paper is a review of the literature on financial socialization, especially papers published between 2010 and 2019 in the Journal of Family and Economic Issues. We first review family financial socialization theory and then review empirical documentation for the theory, organized by (a) family socialization processes (e.g., parent financial modeling, parent-child financial discussion, and experiential learning as three primary methods of financial socialization) and (b) financial socialization outcomes (e.g., financial attitudes, financial knowledge, financial behaviors, and financial wellbeing). …

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Family Matters: Decade Review From Journal Of Family And Economic Issues, Heather H. Kelly, Ashley B. Lebaron, E. Jeffery Hill Sep 2020

Family Matters: Decade Review From Journal Of Family And Economic Issues, Heather H. Kelly, Ashley B. Lebaron, E. Jeffery Hill

Faculty Publications

This article reviews research regarding economic influences on a variety of family matters published in Journal of Family and Economic Issues from 2010 to 2019. As finances permeate nearly every facet of everyday life, scholarly research related to finances and family issues has spanned a wide array of topics. We briefly review research focused on the following 11 areas related to finances and family matters: (a) family formation decisions, (b) gender and relational power in family finances and relationships, (c) finances and fathers, (d) finances and mothers, (e) finances and parenting, (f) finances and elderly family members, (g) finances and …

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Development Of A New Us Currency For The Post-Pandemic Remote Culture, F. Matthew Mihelic May 2020

Development Of A New Us Currency For The Post-Pandemic Remote Culture, F. Matthew Mihelic

Faculty Publications

The contemporary dollar currency was already under significant pressure prior to the emergence of the COVID-19 pandemic, but the economic pressures resulting from the national and world “lockdown” have very significantly exacerbated the vulnerabilities of those Federal Reserve Notes. The ostensible nationalization of the Federal Reserve by the United States federal government in April 2020 is a harbinger of a need to restructure the US currency. Today’s developing remote culture necessitates a new form of electronic currency. Herein is a conceptual blueprint for the development of such a restructured US currency that would function in the post-pandemic remote culture.

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Changes In Globalization: How Should Ib Education Respond?, Nancy R. Buchan, Elizabeth C. Ravlin, Orgul D. Ozturk Feb 2020

Changes In Globalization: How Should Ib Education Respond?, Nancy R. Buchan, Elizabeth C. Ravlin, Orgul D. Ozturk

Faculty Publications

A new phase of globalization has made the world cognizant of the job losses, inequality of gains across countries and socio-economic sectors, and climate degradation that has resulted from prior global business practices. We examine what changes international business (IB) education should consider as these patterns evolve. Non-routine analytical skills and global interpersonal skills will still be important in the changing economy. However, evidence suggests that IB education should also emphasize broader knowledge of politics, institutions, sociology, and anthropology in order to help future business leaders navigate and balance the increasingly complex requirements of both local and global stakeholder interests.

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Parent Financial Socialization Scale: Development And Preliminary Validation, Ashley B. Lebaron, Melissa A. Curran, E. Jeffery Hill, Margaret E. Freeh, Russell B. Toomey, Katherine E. Speirs Jan 2020

Parent Financial Socialization Scale: Development And Preliminary Validation, Ashley B. Lebaron, Melissa A. Curran, E. Jeffery Hill, Margaret E. Freeh, Russell B. Toomey, Katherine E. Speirs

Faculty Publications

A theoretically-grounded, validated measure of parent financial socialization is needed. This paper describes the development and validation process of three new scales: the Parent Financial Modeling Scale (eight items), the Parent-Child Financial Discussion Scale (nine items), and the Experiential Learning of Finances Scale (three items). These may be treated as subscales of a multidimensional latent construct: the Parent Financial Socialization Scale (20 items). The three scales measure the three primary methods of family financial socialization. The scales are designed to be retrospective, with target participants being U.S. emerging adults (age 18-30). A rigorous development process was undertaken: an initial pool …

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Romantic Attachment Orientations, Financial Behaviors, And Life Outcomes Among Young Adults: A Mediating Analysis Of A College Cohort, Xiaomin Li, Melissa A. Curran, Ashley B. Lebaron Jan 2020

Romantic Attachment Orientations, Financial Behaviors, And Life Outcomes Among Young Adults: A Mediating Analysis Of A College Cohort, Xiaomin Li, Melissa A. Curran, Ashley B. Lebaron

Faculty Publications

Guided by the Vulnerability-Adaption-Stress model (Karney and Bradbury 1995), we used data from 635 college-educated young adults to examine associations between romantic attachment orientations (i.e., attachment anxiety and attachment avoidance) and young adults’ life outcomes (i.e., financial satisfaction, life satisfaction, and relationship satisfaction; Aim 1). We also conducted a mediating model to examine indirect associations from romantic attachment orientations to life outcomes via young adult’s own financial behaviors and perceived partners’ financial behavior (i.e., each young adult’s perception of their partner’s financial behaviors; Aim 2). For Aim 1, high attachment anxiety and/or high attachment avoidance was associated with low life …

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Study Of The Impact Of The Great Recession On The Relation Between Earnings Surprises And Stock Returns, Benjamin Anderson, Stoyu Ivanov Jan 2019

Study Of The Impact Of The Great Recession On The Relation Between Earnings Surprises And Stock Returns, Benjamin Anderson, Stoyu Ivanov

Faculty Publications

This paper examines the impact of the Great Recession on the relation between earnings surprises and stock returns and examines the role that informed and uninformed investors play in the formation of the post-earnings announcement drift (PEAD). We use quarterly earnings surprises (SUE), firms' standardized unexpected returns, calculated as actual earnings minus expected earnings, scaled by stock price one day prior to the earnings announcement, and one-year future stock returns, the subsequent twelve-month abnormal stock returns, calculated as the difference between the firm's buy-and-hold return and the value-weighted market buy-and-hold return, to test whether the Great Recession had an impact …

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“It Takes A Village To Raise A Rigorous Qualitative Project”: Studying Family Financial Socialization Using Team-Based Qualitative Methods, Loren D. Marks, Christina M. Rosa, Ashley B. Lebaron, E. Jeffery Hill Jan 2019

“It Takes A Village To Raise A Rigorous Qualitative Project”: Studying Family Financial Socialization Using Team-Based Qualitative Methods, Loren D. Marks, Christina M. Rosa, Ashley B. Lebaron, E. Jeffery Hill

Faculty Publications

This purpose of this case study is to relate the methods used to conduct a qualitative research project about family financial socialization designed by emerging adults, primarily employing emerging adults as the primary research participants (although some of their parents and grandparents are interviewed). A sample of 153 respondents (128 undergraduate students, 17 parents, and eight grandparents) at three universities was recruited to assure diversity. We outline and discuss our team-based approach to qualitative data collection, analysis, and coding procedures, as well as how a team of 10 undergraduate students was incorporated into this approach. We relate the challenges and …

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Smart Sentencing Guidelines: The Effect Of Marginal Policy Changes On Recidivism, Sarah M. Estelle, David C. Phillips Aug 2018

Smart Sentencing Guidelines: The Effect Of Marginal Policy Changes On Recidivism, Sarah M. Estelle, David C. Phillips

Faculty Publications

Public appeals regarding criminal justice have shifted somewhat from “tough on crime” to “smart justice” that is more lenient when tradeoffs merit it. Among other considerations, smart sentencing policy depends on how sentence severity affects recidivism. Using administrative data on two common non-violent felonies committed by adults in Michigan, we measure the effect of sentences on offenders' future criminal activity. Discontinuities in the legislative guidelines that constrain sentences chosen by Michigan judges provide exogenous variation in sentence severity. Harsher sentences generated by sentencing guidelines significantly reduce recidivism by felony shoplifters but not repeat drunk drivers. Recidivism falls most for young, …

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Social Entrepreneurship In China: Driving Institutional Change, Tonia Warnecke Jun 2018

Social Entrepreneurship In China: Driving Institutional Change, Tonia Warnecke

Faculty Publications

In the aftermath of the Great Recession, the concern with exclusionary and unethical business practices has led to the growing popularity of social entrepreneurship, which focuses on the creation of social value, not wealth. In this article, I reflect on social entrepreneurship in China, a unique context given the strong Communist party leadership and the transition to a market economy. To begin, I discuss the legal and political framework for social entrepreneurship in China, followed by an overview of the sector’s characteristics, including age, size, social issues emphasized, leader characteristics, and the role of women. Next, I provide examples of …

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Factors Influencing Corn Fungicide Treatment Decisions, Alicia Rosburg, Luisa Menapace May 2018

Factors Influencing Corn Fungicide Treatment Decisions, Alicia Rosburg, Luisa Menapace

Faculty Publications

Fungal disease management in U.S. corn production has undergone a major shift in the last 2 decades. The decision to apply fungicide, a management practice that was once rarely considered, is now contemplated annually by many U.S. corn producers. We investigate potential factors underlying the fungicide treatment decision. We use economics, agronomy, and plant pathology literature to develop a conceptual model of the fungicide treatment decision and test the model using a survey of Midwest corn producers. We find the treatment decision is positively related to perceived economic gains, but heuristic factors also have a strong influence.

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Country And Industry-Level Performance Of Nasdaq-Listed European And Asia Pacific Adrs, Mark Schaub Jan 2018

Country And Industry-Level Performance Of Nasdaq-Listed European And Asia Pacific Adrs, Mark Schaub

Faculty Publications

This study examines the 3-year performance of NASDAQ-Listed Asia Pacific and European ADRs versus the NASDAQ Index and their respective regional indexes from 1990-2010. Country specific performance results show ADRs from China, Japan and Ireland performed best versus the US and regional benchmarks. Industry-level results show the best industry performers were in the Technology Hardware & Services industry and in Energy companies.

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On Using Interval Response Data In Experimental Economics, James Mcdonald, Olga B. Stoddard, Daniel Walton Jan 2018

On Using Interval Response Data In Experimental Economics, James Mcdonald, Olga B. Stoddard, Daniel Walton

Faculty Publications

Many empirical applications in the experimental economics literature involve interval response data. Various methods have been considered to treat this type of data. One approach assumes that the data correspond to the interval midpoint and then utilizes ordinary least squares to estimate the model. Another approach is to use maximum likelihood estimation, assuming that the underlying variable of interest is normally distributed. In the case of distributional misspecification, these estimation approaches can yield inconsistent estimators. In this paper, we explore a method that can help reduce the misspecification problem by assuming a distribution that can model a wide variety of …

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Building Research Skills In The Macalester Economics Major, J. Peter Ferderer, Gary Krueger Aug 2017

Building Research Skills In The Macalester Economics Major, J. Peter Ferderer, Gary Krueger

Faculty Publications

Economics majors at Macalester College have won numerous awards for their research papers, and this success has helped them land jobs in finance, consulting, and the nonprofit sector, as well as gain admission to top graduate programs. This article describes how the Economics Department at Macalester promotes economic research among its students.

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We’Ll Never Be Royals, But That Doesn’T Matter, Art Carden, Sarah Estelle, Anne Bradley Jul 2017

We’Ll Never Be Royals, But That Doesn’T Matter, Art Carden, Sarah Estelle, Anne Bradley

Faculty Publications

No abstract provided.

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Deflation And Consumer Expenditures, Ali M. Reza Jun 2017

Deflation And Consumer Expenditures, Ali M. Reza

Faculty Publications

One often hears that one reason deflation should be avoided is because it leads to the expectation of lower prices in the future on the part of consumers. This in turn causes consumers to defer their spending. The consequence of this is reduced demand for products and lower investment by firms now. The net result is weaker economic activity. This paper provides a new approach to verify this view.

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