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Articles 1 - 20 of 20
Full-Text Articles in Behavioral Economics
Equality In Times Of Uncertainty: Economic Downturn And Body Image Messaging Toward Women, Ritsa Giannakas
Equality In Times Of Uncertainty: Economic Downturn And Body Image Messaging Toward Women, Ritsa Giannakas
Honors Theses
A vast body of literature indicates that the economy and the status of women are interlinked, with higher levels of economic well-being tending to correspond with advancements in women’s rights. However, little of this research has investigated the changes in the wellbeing of women as it pertains to their physical and mental health, especially as it pertains to exploring the impacts of economics on eating disorder rates and societal messaging toward women. This thesis investigates a novel theory linking economic uncertainty and downturn to the spread of pro-eating disorder content online, positing that economic uncertainty may coincide with a “conservative …
Book Review Of Mind Over Money: The Psychology Of Money And How To Use It Better By Claudia Hammond, Stephen Molchan
Book Review Of Mind Over Money: The Psychology Of Money And How To Use It Better By Claudia Hammond, Stephen Molchan
Journal of Social, Behavioral, and Health Sciences
Mind Over Money: The Psychology of Money and How to Use It Better, by Claudia Hammond, explores research in psychology, neuroscience, biology, and behavioral economics related to how individuals interact with and manage money. Hammond is a broadcaster on the BBC, writer, and professor of psychology. In Mind Over Money: The Psychology of Money and How to Use It Better, Hammond uses captivating interviews, presents stories a broad audience can relate to, and cites multiple research studies to show the psychology of money. Throughout the book, Hammond not only presents readers with the research, 263 studies are mentioned, …
The Effect Of Magnitude And Probability On Plea Bargain Decision-Making, Megan L. Small
The Effect Of Magnitude And Probability On Plea Bargain Decision-Making, Megan L. Small
Electronic Theses and Dissertations
Decision-making is studied in various aspects of life and can be especially vital in the context of the criminal justice system, such as plea bargains. Previous research in this area used a less commonly used task (fill-in-the-blank) in addition to a student sample (Falligant & Pence, 2019). The current study uses probability discounting to study the choice between accepting a plea bargain for a shorter incarceration sentence or risking a trial with a longer sentence on a sample of adults with experience in the criminal justice system. Three sentence durations, or magnitudes, were used (1 year, 5 years, and 25 …
Obstacles To Dieting Behavior, Shahram Heshmat
Obstacles To Dieting Behavior, Shahram Heshmat
Journal of Food Law & Policy
Despite documented short term success, dieting has a very low success rates, most dieters regain their weight back within 3-5 years. The question is why do people fail to stick to their goal for eating a healthy diet in order to lose weight? One possible answer is that people have self-control problems in the form of a present-biased preference. From a prior perspective, they want to behave relatively patiently, but as the moment of action approaches, they want to behave relatively impatiently. The essay presents some insights from behavioral economics to explain why people fail to maintain healthy behavior.
Investor Behavior In The Midst Of A Global Pandemic, Abigail N. Bates
Investor Behavior In The Midst Of A Global Pandemic, Abigail N. Bates
Honors Projects
Investors partaking in portfolio and asset management through the stock market and other avenues do so with certain reasoning and methods in hand. Each investor may have different interests and risk tolerances that guide their choices for investment. Behavioral finance allows for an in-depth look at an investor’s actions and the influencing psychology behind it. Before this approach was popularized, early studies of finance assumed that investors were always rational in their decision making and put resources only into opportunities that would increase their utility or happiness. The behavioral finance approach takes a more comprehensive look at these behaviors and …
Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith
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 …
Why Trust Out-Groups? The Role Of Punishment Under Uncertainty, Xiaofei Pan, Daniel Houser
Why Trust Out-Groups? The Role Of Punishment Under Uncertainty, Xiaofei Pan, Daniel Houser
Economics Faculty Journal Articles
We conducted a hidden-effort trust game, in which we assigned subjects to one of two groups. The groups, which were formed through two different group formation processes, included a “social” group that required sharing and exchange among its members, and a “non-social” group that did not. Once assigned, subjects participated in the game with members from both groups, either with or without the opportunity to punish a trustee who may have defected on them. We found that for investors in the non-social group, the opportunity to punish a trustee worked to promote trust, but only when the trustee was a …
The Behavioral Economics Of Multilevel Marketing, Heidi H. Liu
The Behavioral Economics Of Multilevel Marketing, Heidi H. Liu
All Faculty Scholarship
Multilevel marketing companies (MLMs) - sales organizations that compensate independent consultants based on the sales and recruitment of other consultants - form a significant part of the American economy. Yet, MLMs provide little information to regulators and potential participants regarding potentially material information. Although MLMs are often compared to pyramid schemes, consultants argue that participation in a MLM allows them to make money outside of the traditional full-time labor force. This paper examines the law, economics, and psychology of MLMs, suggesting that MLMs may draw on prospective consultants' cognitive biases in persuading consultants to join and continue a MLM. Consultants …
Behavioral Finance And Its Impact On Investing, Jordan Fieger
Behavioral Finance And Its Impact On Investing, Jordan Fieger
Senior Honors Theses
The field of behavioral finance has seen incredible growth over the past half century as it has explored the effect that cognitive psychological biases can have on investors’ financial decisions. Behavioral finance stands in stark contrast to the efficient market hypothesis, as it attributes market inefficiencies to investors who are not perfectly rational human beings. It offers a solution to the observed 3.5% gap that active equity investors miss out on in the market compared to passive index funds, which it attributes to their emotions and psychological biases. These common human biases can be grouped into five major categories: heuristics, …
Nudging Towards Social Change: The Application Of Psychology And Behavioral Economics In Promoting Responsible Consumption, Larissa Chern
Nudging Towards Social Change: The Application Of Psychology And Behavioral Economics In Promoting Responsible Consumption, Larissa Chern
CMC Senior Theses
With workplace disasters in developing countries increasingly in the news, a major question is how to encourage consumers to use corporate social responsibility as a criterion in purchasing. Distinct from environmental concerns, social responsibility is defined here with respect to the humanitarian aspects of corporate practice, including fair wages and working conditions, equitable treatment of the disadvantaged, and restriction of child labor. Although the idea of socially responsible consumption (SRC) was first identified over forty years ago, most recent research on changing consumption habits focuses specifically on environmentally responsible consumption (ERC). Combining the psychological concept of social norms with economic …
Financial Literacy And College Students: An Exploration Of College Students’ Attitudes, Behaviors, Influences And Preparedness For Financial Decisions After Graduation, Kerry Quirk
Honors Projects in Finance
Financial literacy is the level of understanding an individual has for different financial topics, including but not limited to, investment vehicles, retirement accounts, saving, budgeting, credit and taxes, and the use of such knowledge to change one’s financial behavior to create a more positive financial position for the future. Past research has shown that college students consistently have low levels of financial literacy. They also lack knowledgeable influences on their financial education. Because many college students will soon enter the workforce after graduation and will be responsible for managing their own salary, retirement accounts and investment options, they can be …
The Common Sense Of Contract Formation, Tess Wilkinson-Ryan, David A. Hoffman
The Common Sense Of Contract Formation, Tess Wilkinson-Ryan, David A. Hoffman
All Faculty Scholarship
What parties know and think they know about contract law affects their obligations under the law and their intuitive obligations toward one another. Drawing on a series of new experimental questionnaire studies, this Article makes two contributions.First, it lays out what information and beliefs ordinary individuals have about how to form contracts with one another. We find that the colloquial understanding of contract law is almost entirely focused on formalization rather than actual assent, though the modern doctrine of contract formation takes the opposite stance. The second Part of the Article tries to get at whether this misunderstanding matters. Is …
Demand For Breach, Tess Wilkinson-Ryan
Demand For Breach, Tess Wilkinson-Ryan
All Faculty Scholarship
These studies elicit behavioral evidence for how people weigh monetary and non-monetary incentives in efficient breach. Study 1 is an experimental game designed to capture the salient features of the efficient breach decision. Subjects in a behavioral lab were offered different amounts of money to break the deal they had made with a partner. 18.6% of participants indicated willingness to break a deal for any amount of profit, 27.9% were unwilling to breach for the highest payout, and the remaining subjects identified a break-point in between. Study 2 is an online questionnaire asking subjects to take the perspectives of buyers …
Ties That Bind: A Network Perspective On University Spinouts, Patrick Mchugh
Ties That Bind: A Network Perspective On University Spinouts, Patrick Mchugh
2013
Research universities execute technology transfer initiatives to transition university inventions to marketplace innovations. This process requires ties to bridge the gap between two disparate networks: a university's research community and a licensing corporate entity. One type of licensing corporate entity, and the focus of this research, is a newly formed university spinout. Utilizing a network lens, this study focuses on the ties between university inventors and spinout licensees and on the impact of various inter-organizational relationships on a spinout's success. This thesis investigates the following research questions: 1. How, if at all, does variation in the nature of the tie …
The Psychology Of Contract Precautions, David A. Hoffman, Tess Wilkinson-Ryan
The Psychology Of Contract Precautions, David A. Hoffman, Tess Wilkinson-Ryan
All Faculty Scholarship
This research tests the intuition that parties to a contract approach each other differently before the contract is formed than they do once it is finalized. We argue that one of the most important determinants of self-protective behavior is whether the promisee considers herself to be in negotiations or already in an ongoing contract relationship. That shift affects precaution-taking even when it has no practical bearing on the costs and benefits of self-protection: the moment of contracting is a reference point that frames the costs and benefits of taking precautions. We present the results of three questionnaire studies in which …
A Closer Look At The Relationship Between Superstitious Behaviors And Trait Anxiety, Brandy Futrell
A Closer Look At The Relationship Between Superstitious Behaviors And Trait Anxiety, Brandy Futrell
Brandy Futrell
This study examines the relationship between superstitious behaviors and trait anxiety. Researchers randomly selected participants from college campuses for a 28-question survey measuring superstitiousness and the 20-question State-Trait-Anxiety-Inventory (STAI) to measure symptoms of anxiety. Results show a positive correlation between superstitious behaviors and an increase in anxiety symptoms. Significant gender differences were found; women scored higher on superstitiousness survey and the STAI-X2 test. Superstitious behaviors were a significant indicator for developing trait anxiety.
Looking At China’S Great Leap Forward From A Systems Perspective, Brandy Futrell
Looking At China’S Great Leap Forward From A Systems Perspective, Brandy Futrell
Brandy Futrell
China’s Great Leap Forward (GLF) campaign of 1958-1961 led by Mao Tse-Tung resulted in a horrendous famine that cost millions of lives. This paper examines the campaign from a systems perspective across the individual, group/societal, and regulatory levels. Looking at each level illustrates errors that explain how the GLF failed.
Put Your Money Where Your Butt Is: A Commitment Contract For Smoking Cessation, Xavier Giné, Dean Karlan, Jonathan Zinman
Put Your Money Where Your Butt Is: A Commitment Contract For Smoking Cessation, Xavier Giné, Dean Karlan, Jonathan Zinman
Dartmouth Scholarship
We designed and tested a voluntary commitment product to help smokers quit smoking. The product (CARES) offered smokers a savings account in which they deposit funds for six months, after which they take a urine test for nicotine and cotinine. If they pass, their money is returned; otherwise, their money is forfeited to charity. Of smokers offered CARES, 11 percent took up, and smokers randomly offered CARES were 3 percentage points more likely to pass the 6-month test than the control group. More importantly, this effect persisted in surprise tests at 12 months, indicating that CARES produced lasting smoking cessation. …
The Psychology Of Residential Developers: Lessons From Behavioral Economics And Additional Explanations For Satisficing, Rayman Mohamed
The Psychology Of Residential Developers: Lessons From Behavioral Economics And Additional Explanations For Satisficing, Rayman Mohamed
Rayman Mohamed
Researchers have repeatedly observed satisficing by residential developers. The phenomenon has been attributed to their bounded rationality. In response, policy makers have designed policies that reduce risks to assist developers in overcoming bounds on their rationality. However, after decades of such policies, there is little evidence that developers have stopped satisficing. This article argues that bounded rationality is an insufficient explanation for satisficing by small developers. Lessons from behavioral economics suggest additional reasons for satisficing by developers. Satisficing is common because developers bracket projects one at a time, bracket each investment decision in isolation of others, create nonfungible investment accounts, …
Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith
Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith
Vanderbilt Law School Faculty Publications
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 …