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Social and Behavioral Sciences Commons™
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Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
Cognitive Reflection And The Diligent Worker: An Experimental Study Of Millennials, Brice Corgnet, Roberto Hernán-González, Ricardo Mateo
Cognitive Reflection And The Diligent Worker: An Experimental Study Of Millennials, Brice Corgnet, Roberto Hernán-González, Ricardo Mateo
Economics Faculty Articles and Research
Recent studies have shown that despite crucially needing the creative talent of millennials (people born after 1980) organizations have been reluctant to hire young workers because of their supposed lack of diligence. We propose to help resolve this dilemma by studying the determinants of task performance and shirking behaviors of millennials in a laboratory work environment. We find that cognitive ability is a good predictor of task performance in line with previous literature. In contrast with previous research, personality traits do not consistently predict either task performance or shirking behaviors. Shirking behaviors, as measured by the time participants spent browsing …
Building A Better Model: Variable Selection To Predict Poverty In Pakistan And Sri Lanka, Marium Afzal, Jonathan Hersh, David Newhouse
Building A Better Model: Variable Selection To Predict Poverty In Pakistan And Sri Lanka, Marium Afzal, Jonathan Hersh, David Newhouse
Economics Faculty Articles and Research
Numerous studies have developed models to predict poverty, but surprisingly few have rigorously examined different approaches to developing prediction models. This paper applies out of sample validation techniques to household data from Pakistan and Sri Lanka, to compare the accuracy of regional poverty predictions from models derived using manual selection, stepwise regression, and Lasso-based procedures. It also examines how much incorporating publically available satellite data into the model improves its accuracy. The five main findings are that: 1) Lasso tends to outperform both discretionary and stepwise models in Pakistan, where the set of potential predictors is large. 2) Lasso and …
Adam Smith: Homo Socialis, Yes; Social Preferences, No; Reciprocity Was To Be Explained, Vernon L. Smith
Adam Smith: Homo Socialis, Yes; Social Preferences, No; Reciprocity Was To Be Explained, Vernon L. Smith
Economics Faculty Articles and Research
I argue that the authors accept too casually the neo-classical framework of thought that was incapable of predicting choices in 2-person and other experimental games in the 1980s and 1990ss. The ex post hoc hypothesis that social preference can describe homo socialis reduces inevitably to a rescue of neo-classical economics in which Max-U (own payoff, other payoff) substitutes mechanically for Max-U (own payoff) in our personal groupings. This static procedure unnecessarily and inappropriately robs human conduct of its sociality as a process relationship. The model I articulate was masterfully developed by Adam Smith, which back-predicts the results of these earlier …
Firing Threats: Incentive Effects And Impression Management, Brice Corgnet, Roberto Hérnan-Gonzalez, Stephen J. Rassenti
Firing Threats: Incentive Effects And Impression Management, Brice Corgnet, Roberto Hérnan-Gonzalez, Stephen J. Rassenti
Economics Faculty Articles and Research
We study the effect of firing threats in a virtual workplace that reproduces features of existing organizations. We show that organizations in which bosses can fire up to one third of their workforce produce twice as much as organizations for which firing is not possible. Firing threats sharply decrease on-the-job leisure. Nevertheless, organizations endowed with firing threats underperformed those using individual incentives. In the presence of firing threats, employees engage in impression management activities to be seen as hard-working individuals in line with our model. Finally, production levels dropped substantially when the threat of being fired was removed, whereas on-the-job …
Robust Determinants Of Bilateral Trade, Marianne Baxter, Jonathan Hersh
Robust Determinants Of Bilateral Trade, Marianne Baxter, Jonathan Hersh
Economics Faculty Articles and Research
What are the policies and country-level conditions which best explain bilateral trade flows between countries? As databases expand, an increasing number of possible explanatory variables are proposed that influence bilateral trade without a clear indication of which variables are robustly important across contexts, time periods, and which are not sensitive to inclusion of other control variables. To shed light on this problem, we apply three model selection methods – Lasso reguarlized regression, Bayesian Model Averaging, and Extreme Bound Analysis -- to candidate variables in a gravity models of trade. Using a panel of 198 countries covering the years 1970 to …
The Cognitive Basis Of Social Behavior: Cognitive Reflection Overrides Antisocial But Not Always Prosocial Motives, Brice Corgnet, Antonio M. Espín, Roberto Hernán-González
The Cognitive Basis Of Social Behavior: Cognitive Reflection Overrides Antisocial But Not Always Prosocial Motives, Brice Corgnet, Antonio M. Espín, Roberto Hernán-González
Economics Faculty Articles and Research
Even though human social behavior has received considerable scientific attention in the last decades, its cognitive underpinnings are still poorly understood. Applying a dual-process framework to the study of social preferences, we show in two studies that individuals with a more reflective/deliberative cognitive style, as measured by scores on the Cognitive Reflection Test (CRT), are more likely to make choices consistent with “mild” altruism in simple non-strategic decisions. Such choices increase social welfare by increasing the other person's payoff at very low or no cost for the individual. The choices of less reflective individuals (i.e., those who rely more heavily …
Are Subjects Making Financial Decisions In Lab Auctions Or Are They Just Gambling?, Cary Deck, Jungmin Lee, Javier Reyes
Are Subjects Making Financial Decisions In Lab Auctions Or Are They Just Gambling?, Cary Deck, Jungmin Lee, Javier Reyes
Economics Faculty Articles and Research
Optimal bidding strategies in first-price and Dutch auctions are theoretically isomorphic but depend on bidder risk attitudes. However, laboratory experiments consistently find different behaviour between auction formats. This article explores whether the notion in psychology that financial and gambling risks are viewed differently can explain the discrepancy. Ultimately, the evidence does not support this hypothesis, but a bidder's propensity to gamble is associated with how much risk he takes in both auctions whereas his propensity to take financial risks is not. The results suggest that subjects may view themselves as gambling in laboratory auctions rather than making financial decisions.