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Subjective Well-Being Across The Life Course Among Non-Industrialized Populations, Michael Gurven, Yoann Buoro, Daniel Eid Rodriguez, Katherine Sayre, Benjamin Trumble, Aili Pyhälä, Hillard Kaplan, Arild Angelsen, Jonathan Stieglitz, Victoria Reyes-Garcia 2024 University of California, Santa Barbara

Subjective Well-Being Across The Life Course Among Non-Industrialized Populations, Michael Gurven, Yoann Buoro, Daniel Eid Rodriguez, Katherine Sayre, Benjamin Trumble, Aili Pyhälä, Hillard Kaplan, Arild Angelsen, Jonathan Stieglitz, Victoria Reyes-Garcia

ESI Publications

Subjective well-being (SWB) is often described as being U-shaped over adulthood, declining to a midlife slump and then improving thereafter. Improved SWB in later adulthood has been considered a paradox given age-related declines in health and social losses. While SWB has mostly been studied in high-income countries, it remains largely unexplored in rural subsistence populations lacking formal institutions that reliably promote social welfare. Here, we evaluate the age profile of SWB among three small-scale subsistence societies (n = 468; study 1), forest users from 23 low-income countries (n = 6987; study 2), and Tsimane’ horticulturalists (n = …


Political Ideology, Emotion Response, And Confirmation Bias, David L. Dickinson 2024 Chapman University

Political Ideology, Emotion Response, And Confirmation Bias, David L. Dickinson

ESI Publications

Motivated reasoning can serve to help resolve emotional discomfort, which suggests emotion as a likely moderator of such reasoning. This paper addresses a gap in the literature by examining emotion and confirmation bias in the political domain. Results from two preregistered studies, which involved over 900 unique participants, document a confirmation bias across distinct dimensions of belief and preference formation. Also, ideologically dissonant information significantly worsens self-reported emotion. With some exceptions, the evidence generally supports the hypothesis that negative emotion moderates the strength of the bias, which highlights the importance of emotion response in understanding and potentially counteracting confirmation bias.


Generalized Neo-Eu Preferences And The Falsifiability Of Ambiguity Theories, Manuel Nunez, Mark Schneider 2024 University of Connecticut - Storrs

Generalized Neo-Eu Preferences And The Falsifiability Of Ambiguity Theories, Manuel Nunez, Mark Schneider

ESI Working Papers

Axiomatic non-expected utility models are generally more difficult to falsify than expected utility theory as they are less restrictive (by weakening the independence axiom). Recent work computes the Vapnik-Chervonenkis (VC) dimension of a theory to determine the extent to which the theory is falsifiable. Popular ambiguity theories have VC dimensions that increase exponentially in the number of states or that are infinite, whereas the VC dimension of expected utility theory increases linearly in the number of states. In this paper we axiomatically characterize the class of generalized non-extreme outcome expected utility (NEO-EU) preferences in the Anscombe-Aumann framework and show that …


Adam Smith, Human Betterment, And His Erroneous Indentification With Self-Interested Human Action, Vernon L. Smith 2024 Chapman University

Adam Smith, Human Betterment, And His Erroneous Indentification With Self-Interested Human Action, Vernon L. Smith

ESI Publications

In this essay I discuss the proposition that Adam Smith has been widely misinterpreted as asserting in his second book, The Wealth of Nations, that emergent modern economies are driven by the strictly selfish motives of their human inhabitants. The propositions articulated in his first book, The Theory of Moral Sentiments, which offered a theory of society, extended seamlessly into his second book, and continued to be part of his theory of economy. In both works, he distinguished the universal state of being self-interested from actions taken in one's self-interest, and modeled people as creating and following rules of propriety …


A Critical Evaluation Of Loss Aversion As The Determinate Of Effort In Compensation Framing, Timothy W. Shields, James Wilhelm 2024 Chapman University

A Critical Evaluation Of Loss Aversion As The Determinate Of Effort In Compensation Framing, Timothy W. Shields, James Wilhelm

ESI Working Papers

A robust finding in managerial accounting research is that participants prefer economically equivalent contracts framed as bonuses to penalties. Another finding is that participants put forth more effort when facing penalty contracts than equivalent bonus contracts. Both results are commonly described as due to loss aversion, an integral portion of Prospect Theory. We test whether loss aversion is correlated with higher effort in an experiment with two parts. In the first part, we elicit individual participants' loss aversion using two measures. In the second part of the experiment, participants choose costly efforts to increase the likelihood of high versus low …


On Explaining Why The (Human) World Is Rich, Bart J. Wilson 2024 Chapman University

On Explaining Why The (Human) World Is Rich, Bart J. Wilson

ESI Working Papers

The wealth of the modern world is a natural historical marvel. Explaining it has traditionally been the purview of economic historians, as exemplified by the recent book How the World Became Rich by Mark Koyama and Jared Rubin. Economic historians, though, tend to only ask process-oriented “how” questions and “by what means” questions of the Great Enrichment. The eight co-authors of Explaining Technology, who are not economic historians, engage the debate asking a different question. Their goal is to explain the exponential shape of our enrichment with a model of the combinatorial evolution of technology. With an eye toward how …


Associative Networks In Decision Making, Jiangtao LI, Rui TANG, Mu ZHANG 2024 Singapore Management University

Associative Networks In Decision Making, Jiangtao Li, Rui Tang, Mu Zhang

Research Collection School Of Economics

We present a model of associative networks that captures how a decision maker expands her consideration set through mental associations between alternatives. This model serves as a tool to understand the influence of association on decision making. As a proof of concept, we characterize this model within a random attention framework and demonstrate that all the relevant parameters are uniquely identifiable. Notably, in a novel choice domain where not all observable alternatives are available, the presence of unavailable alternatives can affect the choice frequencies of other alternatives through association.


Gambling Habits And Probability Judgements In A Bayesian Task Environment, David L. Dickinson, Parker Reid 2024 Chapman University

Gambling Habits And Probability Judgements In A Bayesian Task Environment, David L. Dickinson, Parker Reid

ESI Publications

Little is known about how gamblers form probability assessments. This paper reports on a preregistered study that administered an incentivized Bayesian choice task to n = 465 self-reported gamblers and non-gamblers. The task elicits subjective probability assessments and allows one to estimate the degree to which distinct information sources are weighted in forming probability assessments. Our data failed to support our main hypotheses that experienced online gamblers would be more accurate than non-gamblers in estimating probabilities, that gamblers experienced in games of skill (e.g., poker) would be more accurate than gamblers experienced only in non-skill games (e.g., slots), that accuracy …


Analisis Teori Antrian Dan Optimalisasi Pelayanan Pada Watsons Cabang Bendungan Hillir Menggunakan Model Singel Channel-Single Phase, Raditya Agung Nugroho, Devini Kartikasari 2024 Universitas Sultan Ageng Tirtayasa

Analisis Teori Antrian Dan Optimalisasi Pelayanan Pada Watsons Cabang Bendungan Hillir Menggunakan Model Singel Channel-Single Phase, Raditya Agung Nugroho, Devini Kartikasari

Jurnal Administrasi Bisnis Terapan

Abstract

Watsons is a health and beauty stores which in service to consumers, so service must be considered and taken into account for consumer convenience. The purpose of this study is to see how optimal the service at Watsons bendungan hillir branch, watsons convenience stores use a single channel-single phase queuing system.The Single Channel-Single Phase queue model is very appropriate to use because buyers can be served well and get optimal time. This can be seen from the number of individuals or buyers waiting in the queue (Lq) with a value of 0.001. The average number of buyers in the …


Teng-Go Axis Package: A Marketing Efforts Analysis, Alessandra Dwi Maharani 2024 Universitas Indonesia

Teng-Go Axis Package: A Marketing Efforts Analysis, Alessandra Dwi Maharani

Jurnal Administrasi Bisnis Terapan

This study's purpose is to analyze the marketing efforts of Teng-Go Package by Axis. In this study, the method used is a qualitative approach with literature reviews regarding the related topics and external analysis using several analytical frameworks. The analysis frameworks carried out in this article consists of three broad sectors, which are Company Analysis with Marketing Mix and SWOT Analysis, Customer Analysis with STP Analysis, and External Analysis with Porter’s Five Forces, and Competitive Landscape Analysis. The output of this article shows that the marketing efforts undertaken by Axis for the Teng-Go Package have gone quite well and are …


Do Participation Rates Vary With Participation Payments In Laboratory Experiments?, Huizhen Zhong, Cary Deck, Daniel J. Henderson 2024 South China Agricultural University

Do Participation Rates Vary With Participation Payments In Laboratory Experiments?, Huizhen Zhong, Cary Deck, Daniel J. Henderson

ESI Working Papers

This paper reports a series of experiments designed to evaluate how the advertised participation payment impacts participation rates in laboratory experiments. Our initial goal was to generate variation in the participation rate as a means to control for selection bias when evaluating treatment effects in common laboratory experiments. Initially, we varied the advertised participation payment to 1734 people from $5 to $15 using standard email recruitment procedures, but found no statistical evidence this impacted the participation rate. A second study increased the advertised payment up to $100. Here, we find marginally significant statistical evidence that the advertised participation payment affects …


The Effect Of Current Ratio, Net Profit Margin, Roa, Company Age, On Profit Growth& Stock Prices During The Covid-19 Pandemic, GAYATRI REJEKI, ERWIN HARINURDIN 2024 OCBC

The Effect Of Current Ratio, Net Profit Margin, Roa, Company Age, On Profit Growth& Stock Prices During The Covid-19 Pandemic, Gayatri Rejeki, Erwin Harinurdin

Jurnal Administrasi Bisnis Terapan

The purpose of this study was conducted to examine the effect of Current Ratio (CR), Net Profit Margin (NPM), Return On Assets (ROA), and Company Age on Profit Growth and the Effect of Profit Growth on Stock Prices on the Indonesia Stock Exchange 2018-2021. This research is a quantitative type. The population in this study are companies on the LQ45 index listed on the Indonesia Stock Exchange in the 2018-2021 period with a total sample of 34 companies. This study used a purposive sampling method. Methods of data analysis using descriptive statistics, comparative analysis, multiple linear regression analysis, and classical …


A Robust Optimization Approach To Mechanism Design, Jiangtao LI, Kexin WANG 2024 Singapore Management University

A Robust Optimization Approach To Mechanism Design, Jiangtao Li, Kexin Wang

Research Collection School Of Economics

We study the design of mechanisms when the mechanism designer faces local uncertainty about agents’ beliefs. Specifically, we consider a designer who does not know the exact beliefs of the agents but is confident that her estimate is within ϵ of the beliefs held by the agents (where ϵ reflects the degree of local uncertainty). Adopting the robust optimization approach, we design mechanisms that incentivize agents to truthfully report their payoff-relevant information regardless of their actual beliefs. For any fixed ϵ, we identify necessary and sufficient conditions under which requiring this sense of robustness is without loss of revenue for …


The Law Of General Average, Luca Anderlini, Joshua C. Teitelbaum 2024 Georgetown University

The Law Of General Average, Luca Anderlini, Joshua C. Teitelbaum

Georgetown Law Faculty Publications and Other Works

Part of a ship's cargo is jettisoned in order to save the vessel and the remaining cargo from imminent peril. How should the loss be shared among the cargo owners? The law of general average, an ancient principle of maritime law, prescribes that the owners share the loss proportionally according to the respective values of their cargo. We analyze whether the law of general average is a truthful and efficient mechanism. That is, we investigate whether it induces truthful reporting of cargo values and yields a Pareto efficient allocation in equilibrium. We show that the law of general average is …


The Effect Of Crime On Tourism In Indonesia, Muhammad Farhan, Hera Susanti 2024 Universitas Indonesia

The Effect Of Crime On Tourism In Indonesia, Muhammad Farhan, Hera Susanti

Journal of Strategic and Global Studies

Tourism sector is widely known as one of economic sectors that can be the engine of economic growth in an effort to reduce poverty in a country. However, growth in the tourism sector can be influenced by safety factors. Tourists tend to avoid tourism destination areas with high crime rates in order to avoid becoming victims of crime. This study aims to analyze the effect of crime on the number of tourist arrivals in Indonesia by using four proxies of crime, which are total crime rate, property crime rate, violent crime rate, and fraud crime rate. This study utilizes a …


Coordination Within And Across Two Cultures, Gabriele Camera, James Gilmore, Marilyn Giselle Hazlett, Jason Shachat, Bochen Zhu 2024 Chapman University

Coordination Within And Across Two Cultures, Gabriele Camera, James Gilmore, Marilyn Giselle Hazlett, Jason Shachat, Bochen Zhu

ESI Working Papers

We study within- and cross-culture interaction in a Stag Hunt game, using a controlled online experiment with Chinese and American participants. We find that cross-culture interactions can have a positive impact on efficiency. American participants, particularly females, more frequently selected the efficient but risky action when facing a Chinese counterpart. Chinese male participants, instead, less frequently selected the efficient but risky action when facing an American counterpart. These behavioral asymmetries do not support the notion of cultural equivalence, nor the hypothesis that multiculturalism fosters strategic uncertainty.


The Examination Of The Mathematical Calculation On Premium Reserve Modifications For Endowment-Life Insurance Products, Farisa Salwa Fatimah, debrina ferezagia, Wira Darmiza 2024 Universitas Indonesia

The Examination Of The Mathematical Calculation On Premium Reserve Modifications For Endowment-Life Insurance Products, Farisa Salwa Fatimah, Debrina Ferezagia, Wira Darmiza

Jurnal Administrasi Bisnis Terapan

Insurance offers numerous advantages in managing the diverse dangers it encounters. The level of compensation provided is contingent upon the magnitude of the premium remitted. A fraction of the premium collected by the company must be allocated as a premium reserve to ensure that the company will not have any challenges in settling future claims. The calculation of premium reserves is performed through the utilization of prospective and retrospective reserve methods, which rely on net premiums as the foundation for the computation. The premium reserve calculation approach employs both the Canadian and Full Preliminary Term methodologies. The objective of this …


The Influence Of System Optimization On Improving The Quality Of Administrative Services In The Ministry Of Education, Culture, Research And Technology, Mohammad Ridha, Dhini Novia Azaria 2024 Study Program Administrasi Perkantoran, Program Pendidikan Vokasi Universitas Indonesia

The Influence Of System Optimization On Improving The Quality Of Administrative Services In The Ministry Of Education, Culture, Research And Technology, Mohammad Ridha, Dhini Novia Azaria

Jurnal Administrasi Bisnis Terapan

ABSTRACT

Correspondence and record management are crucial components of a company or institute. Although often considered as things that do not require primary attention, these two components can have a very important role in the occurrence of an event. Along with the development of technology, the management of correspondence and archives is also growing. Generally, the development of this management is in the form of the emergence of an application that can accommodate the needs of correspondence and archives of a company or institute. In Ministry of Education, Culture, Research, and Technology, the application is called "Sistem Naskah Dinas Elektronik" …


Coarse Revealed Preference, Gaoji HU, Jiangtao LI, John K-H QUAH, Rui TANG 2024 Singapore Management University

Coarse Revealed Preference, Gaoji Hu, Jiangtao Li, John K-H Quah, Rui Tang

Research Collection School Of Economics

We propose a novel concept of rationalization, called coarse rationalization, tailored for the analysis of datasets where an agent’s choices are imperfectly observed. We characterize those datasets which are rationalizable in this sense and present an efficient algorithm to verify the characterizing condition. We then demonstrate how our results can be applied through a duality approach to test the rationalizability of datasets with perfectly observed choices but imprecisely observed linear budget sets. For datasets that consist of both perfectly observed feasible sets and choices but are inconsistent with perfect rationality, our results could be used to measure the extent to …


Two Essays On Asset Prices Around Securities Class Action Lawsuits, Sounak Saha 2024 Old Dominion University

Two Essays On Asset Prices Around Securities Class Action Lawsuits, Sounak Saha

Theses and Dissertations in Business Administration

Essay 1: Prior studies on securities class action lawsuits have found that there are large negative abnormal returns and an increase in short-selling activity in the days preceding the lawsuit filing. These findings have largely been attributed to anticipatory inference and private information. However, our analysis of a large sample spanning 2009-2019 reveals that more than half of the lawsuits had a public announcement about the law firm investigation in the days leading up to the lawsuit filing. Strikingly, we find that the average cumulative abnormal return during the 10-day pre-filing period was: (1) over -17% for lawsuits with a …


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