Behavioral Economics Commons^™

First Annual Advances In Business Education Conference 2025 Proceedings, Kelsey Metz, Joshua Ray

Advances in Business Education (ABE) Conference Proceedings

Conference Overview: The First Annual Advances in Business Education (ABE) Conference was held on May 16, 2025, at Lincoln Memorial University in Harrogate, Tennessee. Hosted by the LMU School of Business, the ABE Conference was established to promote teaching excellence through innovation and collaboration in business education. With a focus on fostering meaningful dialogue among educators, researchers, and students, the conference welcomed participants from across disciplines and institutions. The event was structured around three key tracks:

Pedagogy & Teaching Excellence: Showcasing innovative teaching methods and strategies for enhancing student learning and engagement.

Business Research: Presenting research focused on advancing knowledge …

Effective Altruism, In-Group Favoritism, And Urban And Rural Values Across Cultures, Brian Chu

Master's Theses

Effective altruism has become an increasingly fashionable philosophy in recent years, with ardent supporters in Silicon Valley and other echelons of power. This study investigates to what extent people in urban and rural settings in the U.S., South Africa, and India act as effective altruists by employing an experiment in which participants must decide how to divide a $100 donation between two charities, one benefiting 10 people in their in-group and the other, more “effective” charity, benefiting 100 people in their out-group. The results show some areas in which U.S. urban populations act much more effectively altruistic than others, perhaps …

The Hidden Logic Behind Migration And Success, Elsa Russom

Master's Projects and Capstones

This research paper explores the hidden drivers of financial success among Eritrean migrants navigating uncertainty, displacement, and limited institutional access. Drawing on original survey data collected from diaspora communities across East African host countries, I apply a mixed-methods framework combining ordinal and binary logistic regression, random forest classification, bootstrapping, and Bayesian causal mediation; to identify the structural and cultural variables most predictive of financial stability. The findings reveal that participation in Ekub, a traditional rotating savings association, and engagement in communal support systems are the strongest predictors of financial success, outperforming conventional factors such as age, education, or employment status. …

Learning Rules Under Asymmetric Information: A Cournot Market Experiment, Marshall H. Pentes

Honors Theses

I present the use of best response (BR) and imitation (IM) learning rules in experimental Cournot duopoly markets under asymmetric information. In treatment BR, one subject (called BR1) receives, after every round, information about their previous quantity choices, the previous market prices, their previous profits, the previous quantities of the the other firm in the market, and the previous Cournot best response to the quantity of the other firm. In treatment IM, one subject (called IM1) receives, after every round, information about the prior quantities of and profits of both firms in the market. The BR1 and IM1 subjects are …

Reinforcement Learning, Modeling Markets, And Professional Basketball Free Agency, Jacob Cohn

Computational and Data Sciences (PhD) Dissertations

This dissertation presents a reinforcement learning-based approach to modeling and optimizing decision-making in professional basketball free agency and related economic environments. A Markov Decision Process (MDP) framework is introduced to capture the strategic interactions of NBA teams bidding for free agents under budgetary and roster constraints. To address computational scalability challenges, a reinforcement learning (RL) environment is developed, leveraging Proximal Policy Optimization (PPO) to approximate optimal policies for team decision-making.

Empirical results demonstrate that the RL agent successfully learns strategic bidding behavior that aligns with dynamic programming benchmarks in simplified settings while scaling effectively to larger, intractable environments. The study …

The Switch: Determinants Of Family School Modality Choices During The Covid-19 Pandemic, Steicy Dorfi Lopez

Economics Undergraduate Honors Theses

The K-12 system in the United States experienced substantial challenges during the COVID-19 pandemic. This study aims to give an overview of public, private, and homeschooling enrollment decisions during the pandemic, the changes families made between types of schooling and identify familial characteristics associated with the probability of switching in and out of public education. Knowing more about the groups exiting and returning to the public school system can help public school districts better tailor policies to attract and retain their students. Socioeconomic factors influencing a change could be signs of increasing segregation. Using a discrete choice duration model, a …

The Impact On Life-Cycle Consumption, Saving, Labor Supply, And On Bequests When Individuals Possess Time-Inconsistent Preferences, Barna Bose

All Graduate Reports and Creative Projects, Fall 2023 to Present

This study examines how the presence of time-inconsistent preferences affects a representative individual's decisions about how much to consume, to save, and how intensively to work, in addition to the size of a bequest to leave behind at death. The model is used to analyze the behavior of both time-inconsistent individuals (characterized by a hyperbolic discount function) and the behavior of time-consistent individuals (characterized by an exponential discount function). The model demonstrates how these two representative types of individuals make intertemporal choices over time. While the model distinguishes between time-inconsistent and time-consistent individuals with respect to using alternative discount functions, …

Planting The Seed: Rumors And Ceo Dismissal, Diego Villalpando

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

Researchers have investigated the short-term performance implications of CEO dismissals as assessed through investor reactions to CEO dismissal announcements. While the corporate governance mechanism of dismissal that boards orchestrate when CEOs underperform could be positively perceived by investors, empirical evidence suggests that a positive association between CEO dismissals and investor reactions is equivocal. Thus, in my dissertation, I examine investor reactions to S&P 500 dismissal announcements and further understanding about this intriguing relationship through the development of theory that incorporates the important theoretical mechanism of information uncertainty. Since it is increasingly hard for boards to reduce the information uncertainty surrounding …

Sociological Understandings Of Entrepreneurial Action And Intention, Jeffrey Cavanaugh

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

Entrepreneurship as a trend has emerged across many different disciplines, drawing on theory from psychology, economics, and sociology. Importantly, sociologic aspects of entrepreneurship remain hidden from scholarship, as existing topics are often vague or narrowly partitioned. In my dissertation, I utilize sociological understandings of human interactions which define entrepreneurial intention and action. Specifically, I explore how entrepreneurs’ religion, rurality, and social media use influences their behaviors. Throughout these three quantitative essays, I contribute to a better understanding of the social psychology of entrepreneurship, and why entrepreneurial pursuits are so intricately linked to every aspect of society. Throughout my research, which …

Is Subjective Well-Being Insured Against Income Shocks? Evidence From 20-Year Panel Data In South Korea, Jiyeon An, Taehyun Ahn, Kim

Research Collection School Of Economics

Using 20 years of nationally representative panel data in South Korea, we estimate how life satisfaction responds to income shocks. We document that unexpected income changes significantly impact an individual's life satisfaction, and the magnitudes depend on the persistence of income shocks. We find that permanent income shocks substantially penetrate life satisfaction, while transitory income shocks have minimal impact. We also find that life satisfaction regarding external factors such as family income and leisure activities is more sensitive to income shocks than life satisfaction related to social relationships. Our findings imply that it is critical for the government to address …

Strategic Thinking Skills: A Key To Collective Economic Success, Syngjoo Choi, Seonghoon Kim, Wooyoung Lim

ROSA Journal Articles and Publications

We conduct a large-scale experiment to measure elementary aspects of strategic thinking skills and their linkage to labor market outcomes. Two incentivized measures of higher-order rationality and backward induction are developed. Males' (females') strategic thinking skills are positively (negatively) associated with individual labor income. However, among married individuals, strategic thinking skills are significantly and positively associated with their household labor income regardless of gender, highlighting the importance of strategic thinking skills for collective economic success. We argue that the intrahousehold channels encompassing collective labor supply with home-to-workplace spillover and marriage assortative matching offer the most plausible explanation for our findings.

Understanding Pre-Harvest Hedging Behavior And Basis Forecasting: The Role Of Information In Grain Marketing, Iyore Eronmwon

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This dissertation examines decision-making under risk in grain marketing, focusing on how information influences behavior, attitudes toward accessible information, and methods for forecasting commodity basis. Through three essays, it explores the impact of information on hedging decisions, the determinants of information-seeking behavior, the extent to which students can serve as proxies for farmers in risk experiments, and the effectiveness of different forecasting approaches for commodity basis.

The first essay examines the impact of information on pre-harvest grain marketing hedging decisions and grain marketing information-seeking behavior. Specifically, it evaluates two types of information hypothesized to influence decision-making: expected cost of production …

How Can Public Sector Employers Improve The Effectiveness Of Email Recruitment?, Leonard M. Lopoo, Robert Bifulco, Hannah Patnaik, Ashraf Haque, Christine Ashby, George Theoharis

Center for Policy Research

With the constant deluge of listservs, email advertisements, and phishing scams, many email recipients have become accustomed to deleting emails from unknown sources without ever reading them. Knowing what can increase the likelihood of email engagement may improve the effectiveness of email communications in job recruitment. This brief summarizes findings from a study that reports results from a randomized controlled trial (RCT) of a mass email campaign to recruit applicants for a training program for K-12 teaching jobs. The authors compared email open rates between emails that contained a letter with university logos signed by a university official versus emails …

How Can Public Sector Employers Improve The Effectiveness Of Email Recruitment?, Leonard M. Lopoo, George Theoharis, Hannah Patnaik, Robert Bifulco, Ashraf Haque, Christine Ashby

The Lender Center for Social Justice

With the constant deluge of listservs, email advertisements, and phishing scams, many email recipients have become accustomed to deleting emails from unknown sources without ever reading them. Knowing what can increase the likelihood of email engagement may improve the effectiveness of email communications in job recruitment. This brief summarizes findings from a study that reports results from a randomized controlled trial (RCT) of a mass email campaign to recruit applicants for a training program for K-12 teaching jobs. The authors compared email open rates between emails that contained a letter with university logos signed by a university official versus emails …

Analisis Kepemilikan Sertifikat Tanah Terhadap Akses Pinjaman Rumah Tangga, Abdul Azzis Azzis, Chaikal Nuryakin

Jurnal Kebijakan Ekonomi

This study aims to examine the impact of land certificate ownership on access to loans from formal financial institutions. Utilizing data from Indonesia in 2018, we employ logistic regression analysis to investigate the relationship between land certificate ownership and loan access in the country. The examination of land certification in relation to loan access, by distinguishing types of land ownership evidence and loan types, is deemed essential. The findings indicate that the impact of land certification is less effective for low-income households. Beyond ensuring accessible and affordable land certification processes, the government should formulate policies for innovative loan schemes, such …

Mind The Gap: Understanding Why Gen Z’S Sustainability Values Do Not Align With Fashion Purchasing Behavior. Exploring The Factors That Contribute To Values-Behavior Gap, Aileen Charron

Honors Projects in Mathematics and Economics

This thesis investigates the values-behavior gap that exists among Gen Z consumers, specifically investigating why sustainability values often do not translate into sustainable fashion purchasing. Through a multidisciplinary literature review highlighting key economic, marketing, psychological, and anthropological theories of consumer demand, this study identifies the complex motivations behind Gen Z’s fashion choices. A survey distributed to Gen Z respondents (n = 42) measured sustainability values, fashion purchasing habits, and influences across the four different theoretical domains of demand. Respondents were categorized into four subcategories of purchaser based on their sustainability values and consumption behaviors. Analyses had a particular focus on …

Who Needs More Than 1 Water Bottle? Apparently, Everyone., Jazmyn Weddig

Honors Theses

This research investigates the interplay between a good’s functional durability, and its collectability, focusing on the Stanley Quencher water bottle market as a case in point, which has recently gained widespread consumer interest. It examines the economic and psychological factors driving consumer behavior and the market dynamics associated with durable goods that become collectibles. This paper begins with a comprehensive analysis of Stanley and the history of the company to provide a better understanding of their evolving marketing strategies. This paper takes special interest in collecting behavior, planned obsolescence, market structures and economic utility to help explain consumer behavior within …

Health Crisis And Currency Risk: Fresh Evidence From New Data Sets, Afees A. Salisu, Dinci J. Penzin, Yinka S. Hammed

Bulletin of Monetary Economics and Banking

With the aid of a method of predictability analysis that involves a feasible quasigeneralized least squares estimator, we examine the predictive power associated with the newly computed COVID-19 indices, which are disaggregated into six indices for currency market risks (realized volatility of exchange rate). Our sample size covers the period between December 31, 2019, and December 28, 2021. We note mixed outcomes for the major currency markets considered. On average, while the health crisis seems to have heightened the risks associated with Pounds Sterling, Australian Dollar and Canadian Dollar against USD, it exerts a moderating effect on the Euro, Yen …

What About The Buyers? Deriving Factors Of Demand In The U.S. Black Market, Eric S. Schneider

Undergraduate Theses

The vast majority of econometric research regarding black markets focuses on the supply. Relatively little information is definitively shown in academic literature regarding the drivers of demand for black markets. This project seeks to identify factors of demand for black market goods and services. First, this paper gives a brief definition of the broad definition of black markets, before specifically defining the scope of individual markets which will be included in this project. Next, there is a brief review of recent literature on the U.S. black market in order to determine prime candidates for factors of demand. Then, a robust …

Transforming The Feminist Movement – How Female Celebrities Influence The Economic Power And Consumer Behaviors Of Women, Erin Lewantowicz

Senior Theses

This thesis explores the evolving relationship between feminism, economic power, and celebrity culture in the 21^st century. Through an examination of three key industries—entertainment, athletics, and influencers—this study highlights how female celebrities like Taylor Swift, Caitlin Clark, and Alix Earle act as catalysts for significant shifts in women’s economic and consumer power. Taylor Swift’s impact on the entertainment industry, Caitlin Clark’s role in redefining women’s sports, and Alix Earle’s influence on the social media marketing landscape illustrate the growing authority of women as consumers and change-makers. Utilizing social media, brand partnerships, and unprecedented fan engagement, these women transcend traditional …

Undominated Monopoly Regulation, Debasis Mishra, Sanket Patil

Working Papers

We study undominated mechanisms with transfers for regulating a monopolist who privately observes the marginal cost of production. A mechanism is undominated if no other mechanism gives the regulator a strictly higher payoff at some marginal cost of the monopolist without lowering the regulator’s payoff at other costs. We show that an undominated mechanism has a quantity floor: whenever the monopolist is allowed to operate, it produces above a threshold quantity. Moreover, the regulator’s operation decision is stochastic only if the monopolist produces at the quantity floor. We provide a near-complete characterization of the set of undominated mechanisms and use …

On Strategy-Proofness And The Salience Of Single-Peakedness In A Private Goods Allotment Problem, Shurojit Chatterji, Jordi Masso, Shigehiro Serizawa

Research Collection School Of Economics

We consider strategy-proof rules operating on a rich domain of preference profiles in a set up where multiple private goods have to be assigned to a set of agents with entitlements and where preferences display satiation. We show that if the rule is in addition tops-only, same-sided and individually rational with respect to the entitlements, then the preferences in the domain have to satisfy a variant of single-peakedness (referred to as multi-dimensional single-peakedness relative to the entitlements). We also provide a converse of this main finding. It turns out that this domain coincides with the one already identified in a …

The Role Of Personality And Late-Life Categorical Spending Regret, Blain Pearson, Thomas Korankye, Sarah Asebedo

Finance and Economics

This study examines the association between the big five “OCEAN” personality traits and late-life categorical spending regret. The categorical spending regrets examined are housing, food, clothing, appliances/furnishings, cars, leisure, child-related expenses, and providing financial help. Openness was associated negatively with spending regret on food. Conscientiousness was associated positively with spending regret on appliances/furnishings and cars. Extraversion was associated negatively with spending regret on food, cars, and providing financial help. Agreeableness was associated positively with spending regret on food, clothing, leisure, and providing financial help. The results for Neuroticism indicated no statistically significant association between the OCEAN personality traits and the …

Consumption Responses To Income Shocks Through Lottery Winning, Seonghoon Kim, Kanghyock Koh

Research Collection School Of Economics

We study the effects of lottery winning on consumption spending using newly available household survey data in Singapore. We find strong consumption responses to a transitory income shock via lottery wins. Lottery winners spend about half of their prizes within 12 months of winning. We show that consumption responses are stronger among households with more binding liquidity constraints and less risk aversion, which is consistent with the standard life-cycle model. The strong consumption response suggests that fiscal stimulus policies or other public transfer programs could be an effective means of boosting consumption spending of the economy in the short run.

Expectations Versus Reality In New Cairo's Gated Communities: An Interdisciplinary Analysis Of Socio-Spatial Features, Ala'a Marwan

Theses and Dissertations

This research aims to introduce a new framework to identify the disparities between gated community residents’ experiences and real estate developers' visions towards the development. As New Cairo experiences significant growth, many residents are increasingly relocating to gated communities. It has become crucial to assess users’ expectations before moving and their lived experience post-moving to allocate the gaps between their expectations and reality, otherwise, the GC developments will grow apart from users’ updated preferences. The research focuses on the socio-spatial qualities such as accessibility to services and facilities, community interaction, and vast green areas between buildings for privacy, all of …

Survey Of The Labor Market For New Ph.D. Hires In Economics 2025-2026, Kashfia Kamal, Mervin Jebaraj, Raja Kali

Labor Market Survey

This year, the survey questionnaire was sent to 478 organizations. Questionnaires were returned by 145 organizations (30.3 percent). Of this year’s responses, 78 (53.8 percent) were from those who responded to the last survey conducted for the 2024-25 academic year. Among the academic institutions responding, the distribution of highest degrees offered was as follows: Ph.D.—43.4 percent; Master’s—11 percent and Bachelor’s—44.8 percent.

The responses are reported for all respondents, and separately for Ph.D. Degree granting institutions and for schools whose highest degree offered is the Bachelor’s or Master’s Degree. Data for the top 30 institutions in the revised National Research Council’s …

Your Attention Is For Sale, Sam Nova

Emerging Writers

There has been an undeniable trend of shortening attention span length within the last decade. The shift has made many people anxious to point fingers at potential factors which may be partial causes. Despite the common claims that the change is inadvertently caused by technology, shorter content online, or any other unintentional factor; the change is engineered and intentional. There is profit to be made for big social media companies from the purposeful shortening of attention spans amongst the public. Through harmful design philosophy which puts profit over public health, social media companies have designed their platforms to be addictive …

The Value Of A Vote: Vote Pivotality Information And Its Impact On Voter Willingness To Accept, Nicholas J. Sickinger

Honors Theses

A variety of factors influence the decision to participate in a democratic election or not. This paper explores one of these factors: an individual’s perceived pivotality. I explore how people assess the value of their vote when they are informed about the likelihood that their vote will be pivotal. To do so, I conduct an online voting experiment where subjects participate in three different stylized elections: a marginal election, a landslide election, and an uninformed election (where the voter distribution is unclear to participants). I elicit participants’ vote valuations and compare them across election conditions and demographic groups using both …

Exploring Perceived Value: An Analysis Of Belmont University's Dining Options, Joshua Schonland, Delaney King

SPARK Symposium Presentations

Belmont University has a number of dining options available for its students, faculty, staff, and the public. These on-campus dining options include well-known fast food restaurant chains in the United States such as Starbucks Coffee, Chick-fil-a, and Einstein Bros. Bagels. Members of Belmont University who pay for a specific 'meal plan ' have full access to these on-campus options in addition to an all-inclusive dining hall, which is also open to the public for $12.50.

The available meal plans for students, faculty, and staff vary in value and offerings. Some variations offer a fixed number of ‘swipes’, which is a …

Debt Through The Decade: Exploring Connections Between Debt Type, Psychological Stress, Spending Habits, And Life Satisfaction, Emily Johnson

Theses and Dissertations--Family Sciences

Average households in the United States holds $101,915 in consumer debt, contributing to the greater total of America’s $17.3 trillion of total consumer debt (Experian, 2024). Accruing some amount of debt is considered normal throughout a financial lifespan, however, many Americans find themselves completely overwhelmed by keeping up with personal debts and increasing costs of necessities due to inflation. (George & Hansen, 2018; Kim et al., 2019). Following the financial crisis in 2020, many individuals felt increasing financial hardship, with many Americans heavily impacted by their debt holdings. The purpose of the present study is to examine the impact of …