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Examining The Utility Of Behavioral Economic Demand In Addiction Science, Justin Charles Strickland 2019 University of Kentucky

Examining The Utility Of Behavioral Economic Demand In Addiction Science, Justin Charles Strickland

Theses and Dissertations--Psychology

The marriage of perspectives from behavioral economic theory and learning theory has the potential to advance an understanding of substance use and substance use disorder. Behavioral economic demand is a central concept to this interdisciplinary approach. Evaluating demand in the laboratory and clinic can improve previous research on the relative reinforcing effects of drugs by accounting for the multi-dimensional nature of reinforcement rather than viewing reinforcement as a unitary construct. Recent advances in the commodity purchase task methodology have further simplified the measurement of demand values in human participants. This dissertation project presents a programmatic series of studies designed to ...


Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence CHENG, Li JING, Rhema VAITHIANATHAN 2019 University of Adelaide

Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence Cheng, Li Jing, Rhema Vaithianathan

Research Collection School Of Economics

We use novel longitudinal datafrom 19 monthly waves of the Singapore Life Panel to examine the short-termdynamics of the effects health shocks have on household health and non-healthspending and income by the elderly. The health shocks we study are theoccurrence of new major conditions such as cancer, heart problems, and minorconditions (e.g. diabetes, and hypertension). Our empirical strategy exploits unanticipated changesin health status through the diagnosis of new health conditions, combined withan individual fixed effect framework. We find that major shocks have large and persistent effects while minorshocks have small and mainly contemporaneous effects. We find that householdincome reduces ...


The Fight-Or-Flight Response To The Joneses And Income Inequality, Richard C. Barnett, Joydeep Bhattacharya, Helle Bunzel 2018 Drexel University

The Fight-Or-Flight Response To The Joneses And Income Inequality, Richard C. Barnett, Joydeep Bhattacharya, Helle Bunzel

Economics Working Papers

This paper studies the fight-or-flight ambivalence people show
towards the success of the proverbial Joneses. If an agent cares about
leisure and his consumption relative to a benchmark set by the Joneses, his
preferences display the keeping-up-with-the-Joneses (KUJ) property if an
increase in the benchmark urges him to substitute away from leisure into
work, allowing him to finance more consumption; the opposite is labeled
running-away-from-the-Joneses (RAJ). The long literature, thus far, finds a)
if any agent's behavior displays KUJ (or RAJ), everyone's will, or b) if an
agent displays KUJ (or RAJ) in one portion of the consumption ...


Why Trust Out-Groups? The Role Of Punishment Under Uncertainty, Xiaofei Pan, Daniel Houser 2018 Bryant University

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 ...


Intergenerational Debt Dynamics Without Tears, Torben M. Andersen, Joydeep Bhattacharya 2018 University of Aarhus

Intergenerational Debt Dynamics Without Tears, Torben M. Andersen, Joydeep Bhattacharya

Economics Working Papers

Governments, motivated by a desire to improve upon long-run laissez faire, routinely undertake enduring, productive expenditures, say, in public education, that generate positive externalities across cohorts but require investments be made up front. If everyone after the policy is initiated is at least as happy as before and there are some outstanding resources, the Hicks-Kaldor efficiency rule suggests that the present value of these resources could, hypothetically, be distributed to future generations creating the potential for generational Pareto improvement. The literature recognizes the challenge in constructing a policy that is actually Pareto-improving since the policy itself may generate general-equilibrium gains ...


The Big Spenddown: Digital Investment Advice And Decumulation, Steven Polansky, Peter Chandler, Gary R. Mottola 2018 FINRA

The Big Spenddown: Digital Investment Advice And Decumulation, Steven Polansky, Peter Chandler, Gary R. Mottola

Wharton Pension Research Council Working Papers

Digital investment advice providers have traditionally focused on the process of assets accumulation. But as Baby Boomers and Gen Xers age, they will need to shift from accumulation to decumulation, and there is less agreement about how to manage payouts during retirement. This chapter provides on overview of digital investment advice in the U.S., explores how digital advice providers are thinking about and executing decumulation strategies, identifies challenges they face, and discusses how these decumulation strategies could affect investors.


"Integrated Science 3002a: Big Bike Giveaway: Changing London's Environment, Health, And Economy One Bike At A Time", Jermiah Joseph, Katelyn Melo, Devanshi Shukla, Tony Nguyen, Katherine Teeter 2018 Western University

"Integrated Science 3002a: Big Bike Giveaway: Changing London's Environment, Health, And Economy One Bike At A Time", Jermiah Joseph, Katelyn Melo, Devanshi Shukla, Tony Nguyen, Katherine Teeter

Community Engaged Learning Final Projects

There are significant benefits that manifest when an individual chooses to ride a bicycle as their primary mode of transportation. To investigate these benefits, the environmental, health, economic, and social impacts of biking were evaluated through research and data analyses. This revealed that numerous advantages can be obtained at an individual and local scale through citizens choosing to adopt a biking lifestyle. However, it was found that many Londoners are deterred from biking due to poor biking infrastructure. This paper calls into question the current cycling framework in London and it’s limitations on achieving the numerous benefits that biking ...


Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert 2018 University of Pennsylvania Law School

Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert

Wharton Pension Research Council Working Papers

This chapter examines the regulatory and market structure concerns raised by automated financial advisors, and arrives at two conclusions. First, the principles-based regulatory approach of the 1940 Investment Advisors Act in the U.S. appears adequate and sufficiently flexible to address the new issues raised by automation, at least for now. Second, there is a pressing need to develop new mechanisms for encouraging investment robo-advisors (and financial advisors generally) to provide high quality decumulation services to their customers, because neither of the two prevailing compensation approaches – assets under management and commissions – provides sufficient incentive at present, and consumers are poorly ...


How Gender Norms Impact Women's Access To Financial Inclusion, Caitlyn Goodman 2018 University of Arkansas, Fayetteville

How Gender Norms Impact Women's Access To Financial Inclusion, Caitlyn Goodman

Economics Undergraduate Honors Theses

The purpose of this paper is to determine if there is a relationship between gender norms and women's access to financial resources. Using data from the World Bank and the World Values Survey, I use a linear regression model to assess how attitudes toward education, jobs, and over-all equal rights impact women's account ownership.


The Fintech Opportunity, Thomas Philippon 2018 New York University

The Fintech Opportunity, Thomas Philippon

Wharton Pension Research Council Working Papers

This chapter assesses potential impacts of FinTech on the finance industry. First we show that financial services remain surprisingly expensive in the U.S., which helps explain the emergence of new entrants. We then argue that the current regulatory approach is subject to significant political economy and coordination costs, and therefore it is unlikely to deliver much structural change. FinTech can improve both financial stability and access to services, but this will require important changes in the focus of regulations.


Matching Fintech Advice To Participant Needs: Lessons And Challenges, Stephen L. Deschenes, P Brett Hammond 2018 Capital Group

Matching Fintech Advice To Participant Needs: Lessons And Challenges, Stephen L. Deschenes, P Brett Hammond

Wharton Pension Research Council Working Papers

The financial services industry is changing rapidly with the arrival of new economies of scale and networking effects attributable to FinTech, particularly via online or ‘robo’ advice. This chapter reviews the ‘robo-experience:’ how does it differ, if at all, from more traditional advice, and what is likely to happen next? After reviewing the goals and objectives of robo-advice, evolving advice models, who uses robo-advice, and investor behavior, we conclude that first adopters tend to be more affluent Millennial investors, as well as others seeking fast, mobile, and easy access to their finances. Nevertheless, though robo-advice has promised much, evidence is ...


Three Essays On Corruption And Collusion, Arlo Redwine 2018 University of Arkansas, Fayetteville

Three Essays On Corruption And Collusion, Arlo Redwine

Theses and Dissertations

This dissertation studies corruption and collusion with data derived from a laboratory experiment and household data. In Chapter 1 I study experimental procurement auctions with bribery and a public reserve to test for the tacitly collusive equilibrium described by Compte et al. (2005). Three sellers compete for 40 periods to sell a single item to a computerized buyer who accepts bribes and determines ties in bids and bribes randomly. In the closing periods, only 13.5% of auctions display the collusive equilibrium, but 58.7% of selling prices are noncompetitive. In comparison with simulated predictions for auctions that are corrupt ...


Assessing Rice Consumers’ Preferences And Willingness To Pay In Haiti, Cleeford Pavilus 2018 University of Arkansas, Fayetteville

Assessing Rice Consumers’ Preferences And Willingness To Pay In Haiti, Cleeford Pavilus

Theses and Dissertations

In the last 30 years, rice has become the number one food staple in Haiti, and rice imports have outpaced domestic production to supply the country’s increasing rice demand. Policy makers support the claim that increasing local rice supply will not only reduce the dependency on imported rice but also upheave the national economy. However, there is a lack of information on Haitian consumers’ preferences for rice to aid the development of the local rice supply chain. This research aims to bridge that gap by assessing Haitian consumer preferences and willingness to pay for selected rice quality characteristics. The ...


Uncertainty Undermines Area-Wide Pest Management For Citrus Greening In Florida, Ariel Singerman, Sergio H. Lence, Pilar Useche 2018 University of Florida

Uncertainty Undermines Area-Wide Pest Management For Citrus Greening In Florida, Ariel Singerman, Sergio H. Lence, Pilar Useche

Sergio H. Lence

Area-wide pest management targets the pest population of an entire area rather than a single farm. Such collective efforts are more efficient in the use of pest-control inputs and therefore have more lasting effects relative to individual (uncoordinated) farm sprays when pest populations are highly mobile. Coordinated sprays may also help reduce pesticide resistance (Vreysen, Robinson, and Hendrichs, 2007). From an economic standpoint, growers are expected to join an area-wide management group and coordinate pest management practices whenever the benefits outweigh the costs.

Remarkably, Florida citrus growers’ participation in area-wide pest management has not been commensurate with evidence regarding its ...


Determinants Of Parking Fees On College Campuses, Hannah Huckeby 2018 Murray State University

Determinants Of Parking Fees On College Campuses, Hannah Huckeby

Posters-at-the-Capitol

The price of parking has recently been a hot topic around the Murray area, especially among the college students. Due to the drastic increase in parking pass prices there has been an abundant amount of discussion surrounding this idea of parking being a public good. Many individuals have been outraged which has brought up the questions of why there is a price tag on something that many people consider a public good. With that being said, this paper is going to take a deeper look into parking specifically pertaining to college campuses but also in the cities surrounding these institutions ...


Is Public Transit's 'Green' Reputation Deserved?, Justin Beaudoin 2018 University of Washington Tacoma

Is Public Transit's 'Green' Reputation Deserved?, Justin Beaudoin

TREC Friday Seminar Series

While public transit has a reputation as a potential means to ameliorate the adverse environmental effects of automobile travel, there have been very few empirical studies of the marginal effect of transit supply on air quality. We explore whether any of the substantial improvement in air quality observed in the U.S. from 1991 to 2011 can be attributed to increased public transit supply by developing an equilibrium model of transit and automobile travel volumes as a function of the level of transit supplied. We then empirically analyze the effects of the level of transit supply on observed ambient pollution ...


Pareto-Improving Transition To Fully Funded Pensions Under Myopia, Torben M. Andersen, Joydeep Bhattacharya, Marias H. Gestsson 2018 University of Aarhus

Pareto-Improving Transition To Fully Funded Pensions Under Myopia, Torben M. Andersen, Joydeep Bhattacharya, Marias H. Gestsson

Economics Working Papers

Under dynamic efficiency, a pay-as-you-go (PAYG) pension scheme is often described as an “original sin”: It helps the current generation of retirees but hurts future generations because they are forced to save via a return-dominated scheme. Abandoning it is deemed welfare-improving but typically not for all generations. But what if agents are present-biased (hence, undersave for retirement) and the “paternalistically motivated forced savings” component of a PAYG scheme motivated its existence in the first place? This paper shows it is possible to transition from such a PAYG scheme on to a higher return, mandated fully-funded scheme; yet, no generation is ...


Potential Crime Risk And Housing Market Responses, KIM, Kwan Ok LEE 2018 Singapore Management University

Potential Crime Risk And Housing Market Responses, Kim, Kwan Ok Lee

Research Collection School Of Economics

We study how information on local (dis)amenities is transmitted and manifested in housing markets. Using nationwide data on multifamily homes in South Korea, we analyze heterogeneity in the effect of a sex offender's presence on sale prices and rents of nearby homes. Our results demonstrate that the price effect of the offender's move-in varies significantly by spatial context. People react more strongly and persistently to the move-in of the offender in places wherein indicators of social connectedness are stronger, such as places with relatively low population density. We also find that, unlike housing prices, rents do not ...


How Will Persistent Low Expected Returns Shape Household Economic Behavior?, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell 2018 Goethe Unviersity

How Will Persistent Low Expected Returns Shape Household Economic Behavior?, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell

Wharton Pension Research Council Working Papers

Many believe that global capital markets will generate lower returns in the future versus the past. We examine how persistently lower real returns will reshape work, retirement, saving, and investment behavior of older persons using a calibrated dynamic life cycle model. In a low return regime, workers build up less wealth in their tax-qualified 401(k) accounts versus the past, claim social security benefits later, and work more. Moreover, the better-educated are more sensitive to real interest rate changes, and the least-educated alter their behavior less. Interestingly, wealth inequality is lower in periods of persistent low expected returns.


Green Behaviors In The Laboratory, Environmental Donations In The Field, Taberah Michelle D Couto 2018 University of Windsor

Green Behaviors In The Laboratory, Environmental Donations In The Field, Taberah Michelle D Couto

Major Papers

Behavior within an experiment is generally explained by either a pure profit motive or a response to the context of the experiment which is likely driven by different factors such as individuals' environmental friendliness. Are participants in laboratory experiments responding to the context of the experimental setting and not merely to a profit motive? Using a preliminary analysis, I draw evidence from data collected in a two-stage laboratory experiment designed and conducted by Palm-Forster et al. (In Press) at the University of Delaware. In the first stage of the experiment, participants performed a series of tasks concerning their tradeoffs between ...


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