Behavioral Economics Commons^™

The Effects Of Priming On Framing Bias: An Integrative Study Examining Mortality Salience, Self-Affirmation, And Emotional Intelligence, Kyle Klaassen

All Master's Theses

The framing effect is a cognitive bias in which the way a choice is presented influences decision-making. Individuals avoid risk when a scenario or choice is presented in a positive light or as a gain (e.g., lives will be saved, money will be gained). In contrast, because losses are more salient than gains, people will select more risky options in order to avoid potential losses when choices are framed negatively (e.g., lives lost, money lost). Another method of influencing decision-making is priming in which interactions with a specific stimulus predisposes individuals toward certain behaviors or thoughts. The current study examined …

The Effects Of Racial Capitalism On Poor White Laborers, Amy Whittaker

Liberal Studies (MA) Final Essays

While always remembering that racial capitalism’s very nature ensures that non-white Americans suffer incomparable racial oppression, this paper will endeavor to expose the devastation caused to American society as a whole by explaining the ways in which racial capitalism destroyed poor white labors ability to participate fully in the economic system and strangled its chances of living the American dream. It is my hope that by discussing the missing piece of the poor white laborers’ experience under racial capitalism will unite poor white laborers and poor black laborers to work together to end racial capitalism, policing, and the carceral system. …

Establishing Factors Affecting Tax Morale Of The Millennials In The Gig Economy, Farah Nabila Md Fadzil

Student Works (2020-2029)

The lack of clear conceptual framework and understanding of the tax morale in the gig economy is due to the contemporary literature being sparse. Considering the development of the gig economy, the purpose of this study is to provide insights on the factors affecting tax morale of those working in the gig economy. Data was then collected from millennials working in the gig economy through a questionnaire survey and analysed using second generation multivariate analysis, known as PLS-SEM. Taking into account self-efficacy and social cognitive theory as theoretical foundation, the findings reveal that while the extent of the dependency on …

Income Inequality And Crime: Consumption Channel, Ishak Nur Annizah

Student Works (2020-2029)

The general objective of this study is to examine the relationship between income inequality and crime. Many studies have discussed the relationship between inequality and crime. However, all the literature focused on ‘absolute’ measurements, such as income, poverty, Gini index, education, and employment. They neglected the importance of ‘relative concept’ - a missing element of the way economists analyze inequality. This study argues income inequality is visible through conspicuous consumption. Hence this study proposes conspicuous consumption as another possible channel that could explain the relationship between inequality and crime. Specifically, this study comprises of four specific research objectives. The first …

Predictors Of Social Distancing And Mask-Wearing Behavior: Panel Survey In Seven U.S. States, Plamen Nikolov, Andreas Pape, Ozlem Tonguc, Charlotte Williams

Economics Faculty Scholarship

This paper presents preliminary summary results from a longitudinal study of participants in seven U.S. states during the COVID-19 pandemic. In addition to standard socio-economic characteristics, we collect data on various economic preference parameters: time, risk, and social preferences, and risk perception biases. We pay special attention to predictors that are both important drivers of social distancing and are potentially malleable and susceptible to policy levers. We note three important findings: (1) demographic characteristics exert the largest influence on social distancing measures and mask-wearing, (2) we show that individual risk perception and cognitive biases exert a critical role in influencing …

Estimating Predictors Of Mental Well-Being Through Analysis Of Children’S Drawings: The Case Of Syrian Refugees, Stephanie Smith

Master's Theses

There are currently over 65 million individuals that have been forcibly displaced globally. The cumulative trauma that comes from the refugee experience and exposure to violence has proven to have long-term negative psychological outcomes and thus negative impacts on human capital in the long run. Given that over 50% percent of the global refugee population are children, the ability to efficiently and accurately assess their mental well-being is of critical importance. Using data from over 2000 refugee children in Jordan, I use machine learning techniques to find key predictors of psychological distress, PTSD, and exposure to violence found in children’s …

Delay And Geographic Discounting Exert Multiple Control Over Climate Change Policy Preference, Celeste Noelle Unnerstall

Graduate Theses/Dissertations

The procedures were informed by a pilot investigation conducted by this research team that is described below. In the primary study, students attending Missouri State University chose between a policy with no restrictions or taxation on their carbon emissions versus a restriction on the amount of mileage driven per month and taxation related to the mileage. The main study also included an added variable of the influence a redistribution taxation policy into different geographic distances would have on policy preference. Results were interpreted in terms of a multilevel hyperbolic discounting model using the “R” program. The results suggest that there …

Effects Of Parental Migration On Education And Personality: Evidence From Indonesia, Kyle Sullivan

Graduate Theses and Dissertations

In developing countries, migration can be an important method for many families and households to produce additional income via remittances in order to meet their needs or invest in their children. However, migration is a dynamic process and the absence of a parent can have negative effects on those children left behind. This paper explores how parental migration is associated with their children’s years of education completed and how these associations are heterogenous by family compositions in Indonesia. I use a longitudinal dataset which allows for parents’ migrations to be attributed throughout an individual’s childhood to measure the cumulative impact. …

Mechanisms Of Value-Biased Prioritization In Fast Sensorimotor Decision Making, Kivilcim Afacan-Seref

Dissertations and Theses

In dynamic environments, split-second sensorimotor decisions must be prioritized according to potential payoffs to maximize overall rewards. The impact of relative value on deliberative perceptual judgments has been examined extensively, but relatively little is known about value-biasing mechanisms in the common situation where physical evidence is strong but the time to act is severely limited. This research examines the behavioral and electrophysiological indices of how value biases split-second perceptual decisions and the possible mechanisms underlying the process. In prominent decision models, a noisy but statistically stationary representation of sensory evidence is integrated over time to an action-triggering bound, and value-biases …

Actual Versus Hypothetical Wta Stated Values For Recreational Fishing Licenses: Experimental Evidence Of Fish Tales, Scott Steinback, Kristy Wallmo, Sabrina Lovell, Eric Thunberg, John Foster

Journal of Ocean and Coastal Economics

We compared hypothetical willingness to accept (WTA) values for Massachusetts saltwater recreational fishing licenses with WTA values obtained in an actual (simulated) marketplace. Using a dichotomous choice contingent valuation approach, our results align with past evidence that found WTA values elicited from hypothetical transactions overstate those derived from an actual marketplace. We also provide the first evidence about the effectiveness of an ex-post certainty adjustment technique in a WTA environment. While the adjustment technique has been found to eliminate hypothetical bias in willingness to pay (WTP) settings, we find that when applied in a WTA setting, the approach mitigates but …

Watch Me Give: Narcissism As A Moderator To Donating To A Nonprofit, Austin Prewett, Charles Elliott, Paul A. Story

The Kennesaw Journal of Undergraduate Research

With increased online connectivity in the current generation, more non-for-profit organizations are focusing their efforts on producing online marketing appeals. It has, therefore, become necessary to identify the effect some appeals have on different people. The present study seeks to determine whether an organization offering increased recognition will result in a greater willingness to give by people with narcissistic personalities. Additionally, it will determine if “willingness” to give or “amount” given are different between genders or employment status, as prior research suggests. Results indicated that whether the organization offered increased recognition or not, narcissism did not affect willingness to give …

Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola

Research Collection Lee Kong Chian School Of Business

The current review summarizes emerging research in psychology and associated disciplines showing that the economic cycles exert social influence on individuals across a range of psychological domains. Most research on social influence focused on how factors in the proximal environment impact individuals, while influences emanating from the state of the economy as a whole received far less attention. I review the development of different intellectual traditions examining social influence to explain the relative lack of attention to economic cycles and position emerging work on the topic relative to past research. I then review research on how economic cycles influence individuals …

One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher

Economics Faculty Scholarship

This study investigates a potential mechanism to promote coordination. With theoretical guidance using a belief-based learning model, we conduct a multi-period, binary-choice, and weakest-link laboratory coordination experiment to study the effect of gradualism – increasing the required levels (stakes) of contributions slowly over time rather than requiring a high level of contribution immediately – on group coordination performance. We randomly assign subjects to three treatments: starting and continuing at a high stake, starting at a low stake but jumping to a high stake after a few periods, and starting at a low stake while gradually increasing the stakes over time …

Circadian Variations And Risky Decision Making, Sana Sra

Scripps Senior Theses

Over the past decades, decision making under risk has garnered a great amount of attention both in the field of economics and psychology. Although state-dependent variabilities of risk taking are well-documented, little is known about the effects of a person’s preferred time of day, or chronotype, in risky decision making. Under circumstances of circadian mismatch (e.g., when an “early bird” makes decisions in the evening), research suggests that decision making may reflect a greater reliance on heuristics, such as using stereotypes in social judgments. However, the effects of circadian mismatch on heuristics in risky decision making are relatively unexplored. This …

The Changing Nature Of Work, Leadership, And Organizational Culture In Future Ready Organizations, Saloni Dhir

CMC Senior Theses

Abstract

The relationship between individual and organizational performance is a key challenge for leaders in modern organizations, especially with the current disruption in technology and innovation. This thesis is a literature review and compilation of the relevant empirical evidence on various processes of industrial groups and organizational characteristics such as the changing nature of work, leadership, and company culture in detail. I investigate the complex challenges that millennials and organizations are facing in the current VUCA work environment as well as their potential responses to these changes. I map out the evolution of the concept of work and compare changes …

Differences In Sexual Delay Discounting Among In-Treatment Adults With Opioid Use Disorder, Jonathan J.K. Stoltman

Graduate Theses, Dissertations, and Problem Reports (ETD)

Previous research has found impulsive decision-making to be a core component of addiction (Moody, Franck, Hatz, & Bickel, 2016). One way to measure impulsive choice is through the use of a delay discounting task. The delay discounting task provides a way to measure choice of immediate, smaller rewards compared to delayed, larger rewards (Odum, 2011b). An emerging area of research in addiction science is the intersection of addiction and sexual health. Previous sexual delay discounting research has focused on whether attractiveness or STD risk can shift the likelihood of waiting until a condom was available (Johnson & Bruner, 2012). This …

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 …

Neurobehavioral Measurements Of Natural And Opioid Reward Value, Aaron Paul Smith

Theses and Dissertations--Psychology

In the last decade, (non)prescription opioid abuse, opioid use disorder (OUD) diagnoses, and opioid-related overdoses have risen and represent a significant public health concern. One method of understanding OUD is as a disorder of choice that requires choosing opioid rewards at the expense of other nondrug rewards. The characterization of OUD as a disorder of choice is important as it implicates decision- making processes as therapeutic targets, such as the valuation of opioid rewards. However, reward-value measurement and interpretation are traditionally different in substance abuse research compared to related fields such as economics, animal behavior, and neuroeconomics and may be …

Development Of A Translational Model Of Co-Use Of Alcohol And Nicotine For Testing Potential Pharmacotherapies, Sarah Elizabeth Maggio

Theses and Dissertations--Psychology

Co-users of alcohol and nicotine are the largest group of polysubstance users worldwide. Although pharmacotherapies are available for alcohol (EtOH) or tobacco use disorders individually, it may be possible to develop a single pharmacotherapy to treat heavy drinking tobacco smokers through capitalizing on the commonalities in their mechanisms of action. Towards this goal, several models of concurrent access to EtOH and nicotine were explored as potential preclinical models of co-use using female alcohol-preferring (P) rats. Additionally, potential pharmacotherapeutics for the treatment of EtOH and nicotine co-use disorder were tested using different variations of our model. Treatments tested included (1) varenicline, …

The Onset, Spread, And Prevention Of Mass Atrocities: Perspectives From Network Models, Charles H. Anderton, Jurgen Brauer

Economics Department Working Papers

No abstract provided.

Abandoning The Dream Of Omnipotence: On Autonomy And Self-Binding, Charlie Coil

Graduate Theses and Dissertations

I offer a prolegomenon to the philosophical study of a uniquely human activity—the self-binding act. This philosophical interest directly connects with the Enlightenment project of centralizing personal autonomy and individual freedom as primary values of personhood. Self-binding represents an easily referenced action that introduces a possible clash between autonomy and freedom on the one hand seen as in conflict with other ancient basic human values like self-control and avoiding akrasia. This dissertation investigates the inverted manner whereby an act of self-binding, which voluntarily and effectively limits a person’s options, can end up augmenting rather than interfering with personal autonomy. I …

Don’T Worry Be Happy: Analysis Of Happiness As An Economic Measurement, Kofi Boadu

Master's Theses

Everyone wants to be happy. Happiness however never seems to be a national goal. A possible answer is that happiness is subjective and on its own may not be reflective of the economic status of a country. Therefore, should people’s happiness should be treated equally with other traditional economic measurements? This cross-country level study looks at the relationship between happiness and traditional economic measurements; mainly GDP per capita. Questions concerning whether GDP per capita indeed captures the overall well-being of a citizen and happiness’ eligibility as an economic measurement are addressed. Findings confirm that happiness and GDP per capita are …

Attentional Processing: Replication And Extension Of Selection Bias As A Predictor Of Intertemporal Choice Behavior, Dylan Rutter

Masters Theses, 2010-2019

Basic underlying mechanisms of discounting delayed rewards remain unclear (Green & Myerson, 2013). There has been evidence that attentional mechanisms (e.g., fixation and fixation duration) could be further investigate processes related to the discounting of delayed rewards (Franco-Watkins, Matteson, & Jackson, 2016). Franco-Watkins et al. (2016) was the first to propose a measure of attentional mechanisms in a discounting paradigm, known as selection bias. The authors found selection bias was positively correlated with choice behavior. The present study replicated selection bias using a titration procedure and Area Under the Curve scores. This study also analyzed selection bias across choice presentations …

Time Delay And Investment Decisions: Evidence From An Experiment In Tanzania, Plamen Nikolov

Economics Faculty Scholarship

Attitudes toward risk underlie virtually every important economic decision an individual makes. In this experimental study, I examine how introducing a time delay into the execution of an investment plan influences individuals’ risk preferences. The field experiment proceeded in three stages: a decision stage, an execution stage and a payout stage. At the outset, in the Decision Stage (Stage 1), each subject was asked to make an investment plan by splitting a monetary investment amount between a risky asset and a safe asset. Subjects were informed that the investment plans they made in the Decision Stage are binding and will …

Why Less Property Is More: Inclusion, Dispossession, & Subjective Well-Being, David Fagundes

Faculty Articles

The twin notions of exclusion and possession dominate our cultural and legal conceptions of property. This Article uses the lens of hedonics—the emergent science of happiness—to make a case for the less appreciated notions of inclusion and dispossession. Evidence from this new field shows that owners maximize their welfare, not when they amass land and chattels and keep others away from them, but when they pursue the polar-opposite strategies of inclusion and dispossession, such as sharing their property, donating it to charity, or giving it away. This Article begins its defense of inclusion and dispossession by providing background about the …

The Effect Of Fast Food Restaurants On Type 2 Diabetes Rates, Grace Bailey

CMC Senior Theses

This paper conducts an analysis of county level data to determine the effect of fast food restaurants on type 2 diabetes rates. Due to endogeneity concerns with respect to the location of fast food restaurants, this paper follows the work of Dunn (2010) and uses the number of interstate exits in a given county to serve as an instrument for fast food restaurants. The strength of the instrument, which is theoretically and empirically tested in this paper, imposes some restraints on the interpretation of the findings. Using the Two-Stage Least Squares estimation method, I find that the presence of fast …

Unique Prediction Of Cannabis Use Severity And Behaviors By Delay Discounting And Behavioral Economic Demand, Justin C. Strickland, Joshua A. Lile, William W. Stoops

Psychology Faculty Publications

Few studies have simultaneously evaluated delay discounting and behavioral economic demand to determine their unique contribution to drug use. A recent study in cannabis users found that monetary delay discounting uniquely predicted cannabis dependence symptoms, whereas cannabis demand uniquely predicted use frequency. This study sought to replicate and extend this research by evaluating delay discounting and behavioral economic demand measures for multiple commodities and including a use quantity measure. Amazon.com’s Mechanical Turk was used to sample individuals reporting recent cannabis use (n = 64) and controls (n = 72). Participants completed measures of monetary delay discounting as well as alcohol …

Generating Prevalence Estimates Of Sensitive Behaviors Through List Randomization: Survey Experiment Among Indian Males, Abha Indurkar

Master's Theses

Survey respondents may under-report or misreport sensitive behaviors due to social desirability bias. List randomization is an indirect way of asking questions which allows respondents to answer sensitive questions without the surveyor knowing their actual response. This has emerged as a new technique to ask sensitive questions as it reduces respondent’s discomfort while reporting sensitive behaviors. In this study, we apply list randomization to generate prevalence estimates of sensitive behaviors and perception related to homosexuality, molestation of women and notion of partner purity in the sample of young, college educated Indian males. Our findings are consistent with the literature on …

How To Measure Well-Being At Work And Why It Matters, Singapore Management University

Perspectives@SMU

Supported staff are key drivers of high performing workplaces

Behavioral Finance And Its Impact On Investing, Jordan Fieger

Senior Honors Theses

The field of behavioral finance has seen incredible growth over the past half century as it has explored the effect that cognitive psychological biases can have on investors’ financial decisions. Behavioral finance stands in stark contrast to the efficient market hypothesis, as it attributes market inefficiencies to investors who are not perfectly rational human beings. It offers a solution to the observed 3.5% gap that active equity investors miss out on in the market compared to passive index funds, which it attributes to their emotions and psychological biases. These common human biases can be grouped into five major categories: heuristics, …