Behavioral Economics Commons^™

Banking Sector Credit And Economic Growth In Nigeria: An Empirical Investigation, Aniekan O. Akpansung, Sikiru J. Babalola

CBN Journal of Applied Statistics (JAS)

The paper examines the relationship between banking sector credit and economic growth in Nigeria over the period 1970-2008. The causal links between the pairs of variables of interest were established using Granger causality test while a Two-Stage Least Squares (TSLS) estimation technique was used for the regression models. The results of Granger causality test show evidence of unidirectional causal relationship from GDP to private sector credit (PSC) and from industrial production index (IND) to GDP. Estimated regression models indicate that private sector credit impacts positively on economic growth over the period of coverage in this study. However, lending (interest) rate …

Neither The Washington Nor Beijing Consensus: Developmental Models To Fit African Realities And Cultures, Sanusi L. Sanusi

CBN Journal of Applied Statistics (JAS)

No abstract provided.

Banking Reform And Its Impact On The Nigerian Economy, Sanusi L. Sanusi

CBN Journal of Applied Statistics (JAS)

No abstract provided.

Financial Illiteracy: Prevalence, Consequences, And Solutions, Gerald Matasy

Economics Undergraduate Honors Theses

As Americans have become increasingly responsible for their own financial security their ability to make financial decisions in their best interests has certainly grown in importance. The focus of this paper is to determine what role financial literacy plays in making optimal financial decisions and maintaining economic stability. Using mostly research from other studies and some original research, this paper seeks to examine the level of financial literacy among the general population and what the implications are for the general lack of literacy. What I find is that individuals who have lower levels of financial literacy generally make poorer financial …

The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.

Did I Do That? Group Positioning And Asymmetry In Attributional Bias, Brian Gunia, Brice Corgnet

Economics Faculty Articles and Research

A laboratory experiment examined whether one structural feature of groups—members’ physical positioning—may produce asymmetry in their perceived contribution to a task. In particular, we investigated asymmetry in group members’ (often excessive) claims of credit for collective tasks ("the self-serving attributional bias"). Consistent with the availability account of this bias, group members located in the middle of a group, with easy visual access to their partners’ contributions, demonstrated less bias than outside members (who demonstrated bias consistent with prior research)—but no less satisfaction. Further analyses suggested that these results reflected bias reduction among middle members and did stem from visual availability. …

Team Formation And Self‐Serving Biases, Brice Corgnet

Economics Faculty Articles and Research

There is extensive evidence which indicates that people learn positively about themselves. We build on this finding to develop a model of team formation. We show that under complete information learning positively about oneself prevents efficient team formation. Agents becoming overconfident tend to ask for an excessive share of the group outcome. Positive learning generates divergence in workers' beliefs and hampers efficient team formation. Interestingly, in a context of incomplete information regarding the partner's ability, extensive learning biases may reduce the divergence in agents' beliefs and facilitate efficient team formation as a result. We apply our model to coauthorship and …

Behavioral Economics, Evolutionary Economics, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Behavioral economics and evolutionary economics: subject folder cover sheet. Anwar Shaikh, PhD. Unpublished archival folder cover sheet.
• Untitled working notes on individual firm cost behavior and capital-labor ratios, dated February 23, 2001. Anwar Shaikh, PhD. Unpublished handwritten manuscript.
• Note on micro to macro: macro structure from micro diversity, dated November 23, 2002. Anwar Shaikh, PhD. Unpublished handwritten manuscript.
• Zotero report: bibliography on behavioral and evolutionary economics. Compiler not identified. Unpublished bibliographic compilation.
• Zotero report: supplemental bibliography entry and quotations on Advances in Behavioral Economics, dated October 14, 2009. Compiler not identified. Unpublished bibliographic compilation.
• Sniekers, F. 2010. …

Evolutionary Game Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Alexander, J. M. (2010, July 23). Evolutionary game theory [Printout with handwritten notes]. In E. N. Zalta (Ed.), The Stanford Encyclopedia of Philosophy. Stanford University.

• Shaikh, A., & Elsner, W. (2009, December 15–2010, September 1). Email correspondence on evolutionary game theory, hyperrationality, and microfoundations [Email correspondence].

• Going contemporary, Italian style: La primavera romana è donna. (n.d.). [Article printout].

• Shaikh, A. (2009, September 9). Printed database records with notes and quotations on behavioral and evolutionary economics [Unpublished annotated database records by Anwar Shaikh, PhD], including: Pesendorfer, W. (2006). Behavioral economics comes of …

Rationality And Humanity: A View From Feminist Economics, Julie A. Nelson

Economics Faculty Publication Series

DOES RATIONAL CHOICE THEORY (RCT) HAVE SOMETHING IMPORTANT to contribute to the humanities? Usually the arguments for answering “yes” to this question go something like the following: The application of RCT has proved to be a powerful tool in economics and the social sciences, leading to clear and rigorous insights unattainable from less precise methods. Therefore, by also harnessing this power, the disciplines in the humanities could advance toward becoming more elegant, rational, and forceful in their explorations of human behavior. As an economist, I’d like to address this argument on its home ground. Has the use of RCT advanced …

Teaching Ecological And Feminist Economics In The Principles Course, Julie A. Nelson, Neva Goodwin

Economics Faculty Publication Series

It can be difficult to incorporate ecological and feminist concerns into introductory courses, when one is also obliged to teach neoclassical analysis. In this essay we briefly describe how one might extend existing “multi-paradigmatic” approaches to feminist and ecological concerns, and then present an new alternative approach that may be more suitable for some students. This “broader questions and bigger toolbox” approach can be applied in both microeconomics and macroeconomics introductory classrooms.

Interdisciplinary Readings, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Ormerod, Paul. Economic modelling with low-cognition agents. Physica A, volume three hundred seventy, year two thousand and six. Elsevier B.V.
• Ormerod, Paul. What can agents know? The feasibility of advanced cognition in social and economic systems. Unpublished work.
• Ormerod, Paul, & Rosewell, Bridget. How much can firms know?. Unpublished work.
• Sen, Amartya. Sraffa, Wittgenstein, and Gramsci. Journal of Economic Literature, volume forty-one, year two thousand and three. American Economic Association.
• Gordon, David. Book review of More heat than light: Economics as social physics, physics as nature's economics by Philip Mirowski. …

Podcast: Economic Expressions: A Conversation With The Economist Julie Nelson, Julie A. Nelson

Economics Faculty Publication Series

No abstract provided.

Utility Functions, Future Consumption Targets And Subsistence Thresholds, Ashok Guha, Brishti Guha

Research Collection School Of Economics

If the consumer’s risk aversion behavior varies intertemporally and if the risk aversion coefficient on future consumption becomes very large, the consumer tends to aim at a fixed future consumption target. A by-product is a reinterpretation of subsistence theories of consumption.

Indescribability And Asymmetric Information At The Contracting Stage, Takashi Kunimoto

Research Collection School Of Economics

Maskin and Tirole [Maskin, E., Tirole, J., 1999. Unforeseen contingencies and incomplete contracts. Review of Economic Studies, 66, 83–114] show that indescribability does not matter for contractual incompleteness when there is symmetric information both at the contracting stage and at the trading stage. Following their setup, I show that with asymmetric information at both stages, indescribability can matter.

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

The Consequences Of Information Revealed In Auctions, Brett E. Katzman, Matthew Rhodes-Kropf

Faculty Articles

This paper considers the ramifications of post-auction competition on bidding behavior under different bid announcement policies. In equilibrium, the auctioneer’s announcement policy has two distinct effects. First, announcement entices players to signal information to their post-auction competitors through their bids. Second, announcement can lead to greater bidder participation in certain instances while limiting participation in others. Specifically, the participation effect works against the signalling effect, thus reducing the impact of signalling found in other papers. Revenue, efficiency, and surplus implications of various announcement policies are examined.

A Revelation Principle For Dominant Strategy Implementation, Jesse Schwartz, Quan Wen

Faculty Articles

We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price schedule that does not depend on her report. In any PPD mechanism, every player has a dominant strategy to truthfully report her private information. We establish a revelation principle for dominant strategy implementation: any outcome that can be dominant strategy implemented can also be dominant strategy implemented using a PPD mechanism. We apply this principle to derive the optimal, budget-balanced, dominant strategy mechanisms for public good provision and …

Full Cost Pricing: An Approach To Internalize The Full-Cost Of A Gallon Of Unleaded Gasoline In The U.S And The Feasibility Of Markets Sustaining This Result, Joseph Mack

Honors Capstones

Capstone submitted as a graduation requirement for the BSU Honors Program.

Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova

University Avenue Undergraduate Journal of Economics

In my study, I plan to analyze voucher privatization in the Czech Republic. This process is best characterized as decision making under both risk and uncertainty, where the thousands of individuals who initially received vouchers were operating under near total uncertainty while larger institutional investors who later seized control of the vouchers were operating under conditions of risk. I will analyze the resulting patterns of ownership in comparison to the goals of the process. I will also discuss the role of the International Monetary Fund and World Bank as institutions which affect the conditions under which voucher privatization was conducted. …

Sun Spots And Expectations: W. S. Jevons And The Theory Of Economic Fluctuations, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

W. Stanley Jevon’s statistical study of periodicity has received much scrutiny (Aldrich1987), but less attention has been given to his theoretical position on economic fluctuations, a circumstance which T.W. Hutchison justly finds surprising considering that “Jevons maintained that aggregate instability, and the distress it caused, presented profoundly serious problems, and devoted some of his most strenuous economic research to their explanation” (Hutchison 1988, p. 6). This paper takes up the challenge to examine the development of Jevon’s though on economic fluctuations from the early 1860s until his death in 1882.

I shall distinguish in what follows between Jevon’s “theory of …

Crime: An Economic Approach, Pamela E. Lynch

Business and Economics Honors Papers

This 67 page senior thesis examines crime trends, the economic impact of crime, and an economic model for criminal behavior.