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Behavioral Economics

2016

Articles 1 - 13 of 13

Full-Text Articles in Psychology

An Economic Model Of Mortality Salience In Personal Financial Decision Making: Applications To Annuities, Life Insurance, Charitable Gifts, Estate Planning, Conspicuous Consumption, And Healthcare, Russell N. James Iii Dec 2016

An Economic Model Of Mortality Salience In Personal Financial Decision Making: Applications To Annuities, Life Insurance, Charitable Gifts, Estate Planning, Conspicuous Consumption, And Healthcare, Russell N. James Iii

Journal of Financial Therapy

The study of personal mortality salience and the denial of death have a long history in psychology leading to the modern field of Terror Management Theory. However, a simple consumer utility function predicts many of the outcomes identified in experimental research in this field. Further, this economic approach explains a range of otherwise unexpected financial decision-making behaviors in areas as diverse as annuities, life insurance, charitable gifts and bequests, intra-family gifts and bequests, conspicuous consumption, and healthcare. With its relevance to such a wide range of personal financial decisions, understanding the impact of mortality salience can be particularly useful to …


A Nudge Towards Excellence: The Application Of Behavioral Economics In Education Policy, Jack Dimatteo Nov 2016

A Nudge Towards Excellence: The Application Of Behavioral Economics In Education Policy, Jack Dimatteo

HON499 projects

The purpose of this paper is to analyze the potential for the application of behavioral economics to the field of education policy through “nudges.” Given the difficulty of passing effective comprehensive education reform legislation, the application of nudges represents a low-cost, high-impact approaching to improve student outcomes. This paper offers definitions of several key concepts in the fields of behavioral economics and education: education reform, behavioral economics, choice architecture, nudges, and why behavioral economics is particularly relevant to education reform. Also, the paper describes past education reform attempts, including two that incorporated behavioral economics and two that did not, and …


Losing My Religion? The Impact Of Spiritual Cues On Noncognitive Skills, Daniel H. Bowen, Albert Cheng Oct 2016

Losing My Religion? The Impact Of Spiritual Cues On Noncognitive Skills, Daniel H. Bowen, Albert Cheng

Journal of Catholic Education

Studies consistently show that Catholic schools produce positive impacts on educational outcomes. Many charter school networks in the United States now provide, what are essentially, secularized versions of the Catholic education model. However, charter schools cannot legally replicate the overt religious curriculum and mission of Catholic schools. Although difficult to disentangle its impacts from confounding variables, research suggests that religiosity is a positive predictor of educational outcomes. This relationship might suggest that religious-based education produces effects on outcomes of public value that could be difficult to replicate in secularized contexts. To examine this question we conducted an experiment where 180 …


Sources Of Referral In Student Financial Counseling, Shinae Choi, Suzanne Bartholomae, Clinton G. Gudmunson, Jonathan Fox Sep 2016

Sources Of Referral In Student Financial Counseling, Shinae Choi, Suzanne Bartholomae, Clinton G. Gudmunson, Jonathan Fox

Journal of Financial Therapy

This study evaluates sources of referral to financial counseling and varied declines in financial stress across the financial counseling process. College students came to counseling most often through self-referral. Younger students and women were more likely to respond to institutional referrals. There were two clearly discernable periods of decline in financial stress, smaller interim declines occurring after requesting appointments and larger declines that occurred in counseling sessions. The interim declines, however, were only operative for those who were self- or institutionally-referred and not for those who entered on a social-referral. A possible explanation is that social-referrals have already had “someone …


The Economics Of Lotto, Ian Walker, Robert E. Pryce, Rhys Wheeler, Nick Powdathvee Jun 2016

The Economics Of Lotto, Ian Walker, Robert E. Pryce, Rhys Wheeler, Nick Powdathvee

International Conference on Gambling & Risk Taking

No abstract provided.


Exchange Patterns And Relations In Collaborative Governance., Charles Wharton Kaye-Essien May 2016

Exchange Patterns And Relations In Collaborative Governance., Charles Wharton Kaye-Essien

Electronic Theses and Dissertations

Collaborative governance has received considerable attention in recent years. From environmental resource management to public safety, collaborative governance continues to play a vital role in regional problem solving. In spite of this increasing popularity previous attempts to model the political, economic, and demographic determinants of collaboration have in most cases produced inconsistent results, thereby undermining the ability to generalize from such findings. Additionally, our understanding of the relational patterns that emanate from collaborative agreements remains fairly rudimentary. The main objective of this research is to address some of the gaps in the literature and improve our understanding of collaborative governance …


Consumerism: A Challenge For Christian Leadership?, José A. Aleby, Hugo Ernesto Quiroga Apr 2016

Consumerism: A Challenge For Christian Leadership?, José A. Aleby, Hugo Ernesto Quiroga

Journal of Applied Christian Leadership

This article is motivated by an academic work and a field research project developed by Hugo E. Quiroga (2012; personal communication, 2015) on oneomania as a challenge for christian leadership. Our intention is more to raise questions than to provide easy-sounding answers. The term oneomania may not be well known in theory, but its practical effects are recognized around the world. Oneomania, from the Greek onéo = to buy + mania = insanity, mental disorder (Taylor, 1950), is the scientific and technical term for the disease of consumerism, for the compulsive desire to shop, which is a progressive addiction to …


Informational Efficiency And The Reaction To Terrorism: A Financial Perspective, Nicholas Roland Jan 2016

Informational Efficiency And The Reaction To Terrorism: A Financial Perspective, Nicholas Roland

Honors Undergraduate Theses

The purpose of this study is to measure the message terror organizations hope to convey using the financial markets as a proxy of measurement to determine patterns within the marketplace and the effects on the terrorists’ ability to deliver a desired message due to the increased use of digital devices and access to instantaneous news, seen over the past decade. Using death count, geographic location, and event type, this study identified 109 attacks between 1985 and 2015 to be analyzed against 5 market indices and 5 securities. Measuring the effects within a 10-day sample window from the time of the …


Consumer Neuroscience: A Multi-Disciplinary Approach To Marketing Leveraging Advances In Neuroscience, Psychology And Economics, Bridget E. Blum Jan 2016

Consumer Neuroscience: A Multi-Disciplinary Approach To Marketing Leveraging Advances In Neuroscience, Psychology And Economics, Bridget E. Blum

CMC Senior Theses

For decades, neuroscience has greatly contributed to our foundational understanding of human behavior. More recently, the findings and methods of neuroscience have been applied to study the process of decision-making in order to offer advanced insights into the neural mechanisms that influence economic and consumer choices. In this thesis, I will address how customized marketing strategies can be enriched through the integration of consumer neuroscience, an integrative field anchored in the biological, cognitive and affective mechanisms of consumer behavior. By recognizing and utilizing these multidisciplinary interdependencies, marketers can enhance their advertising and promotional mix to elicit desired neural and affective …


Who Will Be The First To Buy Autonomous Vehicles? An Application Of Everett Rogers’ Diffusion Of Innovations Theory, Reilly Jackson Umberger Jan 2016

Who Will Be The First To Buy Autonomous Vehicles? An Application Of Everett Rogers’ Diffusion Of Innovations Theory, Reilly Jackson Umberger

CMC Senior Theses

Autonomous, otherwise known as self-driving, vehicles represent the future of transportation. Vehicles that drive themselves offer far reaching benefits from increased leisure and productivity for individuals to significant improvements in congestion and infrastructure for governments. The autonomous car will radically change the way we look at transportation, and they are right around the corner. However, the question remains: are we ready? Are we, as a society, ready to hand over the steering the wheel and trust autonomous vehicles with our safety? This paper predicts how the autonomous car will spread through society by analyzing and applying the product qualities and …


Nashbots: How Political Scientists Have Underestimated Human Rationality, And How To Fix It, Daniel Enemark, Mathew D. Mccubbins, Mark Turner Jan 2016

Nashbots: How Political Scientists Have Underestimated Human Rationality, And How To Fix It, Daniel Enemark, Mathew D. Mccubbins, Mark Turner

Faculty Scholarship

Political scientists use experiments to test the predictions of game-theoretic models. In a typical experiment, each subject makes choices that determine her own earnings and the earnings of other subjects, with payments corresponding to the utility payoffs of a theoretical game. But social preferences distort the correspondence between a subject’s cash earnings and her subjective utility, and since social preferences vary, anonymously matched subjects cannot know their opponents’ preferences between outcomes, turning many laboratory tasks into games of incomplete information. We reduce the distortion of social preferences by pitting subjects against algorithmic agents (“Nashbots”). Across 11 experimental tasks, subjects facing …


Collective Action And Decision Making: An Analysis Of Economic Modeling And Environmental Free-Riding, Thomas Miller 16 Jan 2016

Collective Action And Decision Making: An Analysis Of Economic Modeling And Environmental Free-Riding, Thomas Miller 16

Honor Scholar Theses

No abstract provided.


Loss Aversion In Cocaine Users: Influence Of Risk And Commodity Type, Justin Charles Strickland Jan 2016

Loss Aversion In Cocaine Users: Influence Of Risk And Commodity Type, Justin Charles Strickland

Theses and Dissertations--Psychology

Numerous studies in behavioral economics have demonstrated that individuals are more sensitive to the prospect of a loss than a gain (i.e., loss aversion). Although loss aversion has been well described in healthy populations, little research exists in individuals with substance use disorders. The purpose of this study was to comprehensively evaluate loss aversion in cocaine users. Participants completed measures designed to assess loss aversion for drug and non-drug commodities under varying risk conditions. Cocaine demand was determined using a cocaine purchase task. Cocaine users showed a loss aversion score that was consistent across commodity and risk conditions. Compared to …