Open Access. Powered by Scholars. Published by Universities.®

Behavioral Economics Commons™

Open Access. Powered by Scholars. Published by Universities.®

Selected Works

2017

Discipline
Keyword
Publication
File Type

Articles 1 - 10 of 10

Full-Text Articles in Behavioral Economics

Decision-Making In Simultaneous Games: Reviewing The Past For The Future, Mohsen Ahmadian, Ehsan Elahi, Roger Blake Dec 2017

Decision-Making In Simultaneous Games: Reviewing The Past For The Future, Mohsen Ahmadian, Ehsan Elahi, Roger Blake

Mohsen Ahmadian

This research reviews the prior behavioral economics studies in simultaneous games and behavioral operations management literature to propose some new research avenues in the field of behavioral operations management with a focus on simultaneous competitions. Findings of this study show that although many behavioral studies have been done, behavioral research on simultaneous competitions in operations management is rare. Review of the literature indicates that some contemporary trends are emerging in behavioral studies, so there are many opportunities for future research in this area. Moreover, this research highlights the importance of decision science as an interdisciplinary field of study, which in …

Go to article

An Examination Of Consumer Willingness To Pay For Local Products, Aaron Adalja, James Hanson, Charles Towe, Elina Tselepidakis Nov 2017

An Examination Of Consumer Willingness To Pay For Local Products, Aaron Adalja, James Hanson, Charles Towe, Elina Tselepidakis

Aaron Adalja

We use data from hypothetical and nonhypothetical choice-based conjoint analysis to estimate willingness to pay for local food products. The survey was administered to three groups: consumers from a buying club with experience with local and grass-fed production markets, a random sample of Maryland residents, and shoppers at a nonspecialty Maryland supermarket. We find that random-sample and supermarket shoppers are willing to pay a premium for local products but view local and grass-fed production as substitutes. Conversely, buying-club members are less willing to pay for local production than the other groups but do not confllate local and grass-fed production.

Go to article

Datos Para Replicar Los Cálculos Del Artículo "La Consar: Balanceando Los Intereses De Los Ahorradores Y Las Afores", Rodrigo Garcia-Verdu Sep 2017

Datos Para Replicar Los Cálculos Del Artículo "La Consar: Balanceando Los Intereses De Los Ahorradores Y Las Afores", Rodrigo Garcia-Verdu

Rodrigo Garcia-Verdu

Datos para replicar los cálculos del artículo "La CONSAR: balanceando los intereses de los ahorradores y las AFORES", con datos originales del Banco de México y de la Comisión Nacional del Seguro de Ahorro para el Retiro (CONSAR) de México. 

Go to article

Response Functions, Carlos Oyarzun, Adam Sanjurjo, Hien Nguyen Aug 2017

Response Functions, Carlos Oyarzun, Adam Sanjurjo, Hien Nguyen

Carlos Oyarzun

We introduce a simple two-period adaptive-learning model to analyze how “primitive” choice behavior affects payoffs in minimal information settings, and then we conduct an experiment to observe how this behavior (thus payoffs) varies across people. Individuals choose between two uncertain payoff distributions, only knowing the support. In the first round they choose one alternative and receive a payoff. In the second round they probabilistically decide whether to choose the same alternative, or to switch. When analyzing the response function, i.e., a mapping from obtained payoffs to the probability of choosing the same alternative in the second round, we find that …

Go to article

Comparing And Validating Measures Of Character Skills: Findings From A Nationally Representative Sample Apr 2017

Comparing And Validating Measures Of Character Skills: Findings From A Nationally Representative Sample

Gema Zamarro

Though researchers now are aware of the potential importance of character skills, such as conscientiousness, grit, self-control, and a growth mindset, researchers struggle to find reliable measures of these skills. In this paper, we use data collected from the Understanding America Study, a nationally representative internet panel to study the validity of innovative measures of character skills based on measures of survey effort. We believe surveys themselves can be seen as a behavioral tasks and that respondents provide meaningful information about their character skills by way of the effort they put forward on surveys. In particular, we compare measures of …

Go to article

I Share, Therefore It's Mine, Donald J. Kochan Apr 2017

I Share, Therefore It's Mine, Donald J. Kochan

Donald J. Kochan

Uniquely interconnecting lessons from law, psychology, and economics, this article aims to provide a more enriched understanding of what it means to “share” property in the sharing economy. It explains that there is an “ownership prerequisite” to the sharing of property, drawing in part from the findings of research in the psychology of child development to show when and why children start to share. They do so only after developing what psychologists call “ownership understanding.” What the psychological research reveals, then, is that the property system is well suited to create recognizable and enforceable ownership norms that include the rights …

Go to article

Behavioral Public Choice And The Law, Gary M. Lucas Jr., Slaviša Tasić Mar 2017

Behavioral Public Choice And The Law, Gary M. Lucas Jr., Slaviša Tasić

Gary M. Lucas Jr.

Behavioral public choice is the study of irrationality among political actors. In this context, irrationality means systematic bias, a deviation from rational expectations, or other departure from economists’ conception of rationality. Behavioral public choice scholars extend the insights of behavioral economics to the political realm and show that irrational behavior is an important source of government failure. This Article makes an original contribution to the legal literature by systematically reviewing the findings of behavioral public choice and explaining their implications for the law and legal institutions. We discuss the various biases and heuristics that lead political actors to support and …

Go to article

Inattention To Deferred Increases In Tax Bases: How Michigan Homebuyers Are Paying For Assessment Limits, Sebastien J. Bradley Feb 2017

Inattention To Deferred Increases In Tax Bases: How Michigan Homebuyers Are Paying For Assessment Limits, Sebastien J. Bradley

Sebastien J Bradley

The Michigan property tax system gives rise to wide variation in taxable basis across comparable homes due to the application of acquisition-value based assessment limits. Exploiting the fact that the resulting differences in property tax liability are temporarily inherited by new homebuyers, I estimate the degree of capitalization of these largely-idiosyncratic tax differences in a setting free of many of the econometric problems that typically plague estimation of property tax capitalization in order to evaluate whether homebuyers understand the tax implications of their home purchases. Consistent with anecdotal evidence, I find that homebuyers are woefully inattentive to the temporary nature …

Go to article

Market Matters: How Market-Driven Is 'The Newsroom'?, Patrick Ferrucci, Chad Painter Feb 2017

Market Matters: How Market-Driven Is 'The Newsroom'?, Patrick Ferrucci, Chad Painter

Chad Painter

This study examines whether the award-winning news show The Newsroom depicted on HBO practices what John McManus defined as market-driven journalism. McManus posited that organizations practicing market-driven journalism compete in the four markets he describes in his market theory for news production. This study found that The Newsroom depicts an organization that does indeed practice market-driven journalism, with results interpreted through the lens of market theory for news production.

Go to article

Conservatism And Switcher's Curse, Aaron Edlin Dec 2016

Conservatism And Switcher's Curse, Aaron Edlin

Aaron Edlin

This paper formally models the virtues of Edmund Burke's conservatism, characterizes the optimal level of conservatism, and applies the model to management, law, and policy.  I begin by introducing ``switcher's curse,'' a trap in which a decision maker systematically switches too often. Decision makers suffer from switcher's curse if they forget the reason that they maintained incumbent policies in the past and if they naively compare rival and incumbent policies with no bias for incumbent policies.   Conservatism emerges as a heuristic to avoid switcher's curse. The longer a process or policy has been in place, the more conservative one …

Go to article