Behavioral Economics Commons^™

Brand Awareness, Usage & Purchase Patterns Of Hair Shampoo : A Consumer Behavior Perspective, Siew Fong Tong

Student Works (2000-2009)

The hair shampoo industry in Malaysia is becoming highly competitive with more products of local and imported brands. The purpose of this study is to provide a better understanding of the behavior of consumers with regards to hair shampoo. The specific objectives of this study are to examine the unaided brand awareness of hair shampoo; the usage and purchase patterns of hair shampoo; the evaluative criteria used in product performance evaluation and if differences exist among the different ethnic groups; to investigate factors and their relative importance that influence consumers' choice of hair shampoo as well as to examine if …

Money And Price Dispersion, Gabriele Camera, Dean Corbae

Economics Faculty Articles and Research

We relax restrictions on the storage technology in a prototypical monetary search model to study price dispersion. When multiple units of currency can be stored, buyers and sellers enter matches with potentially different willingness to buy or sell. Across the distribution of possible bilateral matches, prices will generally differ even though agents have identical preferences and technologies. We provide existence conditions for a particularly simple equilibrium pattern of exchange and prices. We prove that in the limiting case where search frictions are eliminated, equilibrium prices are uniform. We also prove that a higher initial money stock raises the average price …

The Secondary Retail Market - A Viable Option?, Elaine Murphy

Masters

The secondary retail market in Dublin has dramatically altered over the last four years. Indeed, the entire retail market in Dublin and countryside has witnessed a substantial upsurge in activity over the last four years. On Grafton Street retail Zone A rents are breaking £2,153 per square metre (£200 per square foot) barrier and premiums are in the region of £300,000 -£400,000. There is currently a shortage of good retail investment opportunities on Grafton Street, which is leading investors to turn to Dublin’s other prime street, Henry Street. Over the last year Zone A rents on Henry Street have increased …

Rethinking Cost-Benefit Analysis, Matthew D. Adler, Eric A. Posner

Faculty Scholarship

This paper analyzes cost-benefit analysis from legal, economic, and philosophical perspectives. The traditional defense of cost-benefit analysis is that it maximizes a social welfare function that aggregates unweighted and unrestricted preferences. We follow many economists and philosophers who conclude that this defense is not persuasive. Cost-benefit analysis unavoidably depends on controversial distributive judgments; and the view that the government should maximize the satisfaction of unrestricted preferences is not plausible. However, we disagree with critics who argue that cost-benefit analysis produces morally irrelevant evaluations of projects and should be abandoned. On the contrary, cost-benefit analysis, suitably constrained, is consistent with a …

Book Review, Matthew D. Adler

Faculty Scholarship

Reviewing, Incommensurability, Incomparability and Practical Reason (Ruth Chang ed., 1997)

The Importance Of Cost And Effectiveness For Attitudes Towards Lifesaving Interventions, Joakim Ramsberg, Lennart Sjöberg

RISK: Health, Safety & Environment (1990-2002)

Drs. Ramsberg & Sjöberg present the results of a study that evaluates Swedish attitudes about risks and corresponding lifesaving interventions.

Incommensurability And Cost-Benefit Analysis, Matthew D. Adler

Faculty Scholarship

No abstract provided.

Law And Incommensurability: Introduction, Matthew D. Adler

Faculty Scholarship

No abstract provided.

Underdevelopment As Meta-Axiological Dilemma: The Socioeconomic Implications Of African Axiology For Rational Choice Determinants Of Microeconomic Agency, Sundiata Keita Ibn-Hyman

Dissertations

The intergenerational problems of indigence, poverty and social dysfunction that plague African societies are inextricably grounded in the broader issue of ethnocentrism in neoclassical microeconomics. Economic anthropology provides a methodological critique of the conceptual limitations of neoclassical micro-behavioral assumptions narrowly imposed on non-westem economic organization. While recognizing non-westem economic praxes, the sociological implications of strict neoclassical microeconomic agency for non-westem socioeconomic development is conspicuously ignored. The critique fails to specifically consider the impact of neoclassical ethnocentrism to non-westem sociocultural organization and improvement.

This research utilizes an African-centered, social psychological approach to examine the paradigmatic implications of rational choice criteria for …

Household Saving: Micro Theories And Micro Facts, Martin Browning, Annamaria Lusardi

Dartmouth Scholarship

In this survey, we review the recent theoretical and empirical literature on household saving and consumption. The discussion is structured around a list of motives for saving and how well the standard theory captures these motives. We show that almost all of the motives for saving that have been suggested in the informal saving literature can be captured in the standard optimizing model. Particular attention is given to recent work on the precautionary motive and its implications for saving and consumption behavior. We also discuss the "behavioral" or "psychological" approach that eschews the use of standard optimization techniques and focuses …

Futures Contracting And Dividend Uncertainty In Experimental Asset Markets, David P. Porter, Vernon L. Smith

Economics Faculty Articles and Research

Prices in experimental asset markets tend to bubble and then crash to dividend value at the end of the asset's useful life. Explanations for this phenomenon are (1) that participants cannot form reliable future price expectations or (2) dividend risk aversion. We report the results of experiments to test these hypotheses. In one experimental series, a futures market is introduced so that participants can obtain information on future share prices. In another series of experiments, the per-period dividend is known with certainty. The futures market treatment had little effect on the character of bubble. The certain dividend treatment had little …

Mortality Effects Of Regulatory Costs And Policy Evaluation Criteria, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

Risk regulations directly reduce risks, but they may produce offsetting risk increases. Regulated risks generate a substitution effect, as individuals' risk-averting actions will diminish. Recognition of these effects alters benefit-cost criteria and the value-of-life estimates pertinent to policy analysis. Particularly expensive risk regulations may be counterproductive. The expenditure level that will lead to the loss of one statistical life equals the value of life divided by the marginal propensity to spend on health. Regulations with a cost of $30 million to $70 million per life saved will, on balance, have a net adverse effect on mortality because of these linkages.

Do Farmers Really Want To Eradicate Sheep Lice?, Chris Hawkins

Journal of the Department of Agriculture, Western Australia, Series 4

With the termination of Western Australia's Sheep Lice Eradication Campaign in 1993 farmers' views about the eradication of sheep lice are of greater relevance now than in the past. Lice control now rests with individual farmers and continuing local lice cell groups .

A recent survey of producers in the Moora Shire provides some key insights into farmers' thoughts about sheep lice and their eradication.

Agriculture's Economic Performance, Ross Kingwell

Journal of the Department of Agriculture, Western Australia, Series 4

Changes within and outside of agriculture have affected the nature and econoicperforrmance of the industry. Some clear trends have emerged and they are discussed here.

As Australian economy grows and increasingly diversifies, agriculture will become a less important sector.

However, as long as agriculture fulfils its economic role, it will support and promote economic development elsewhere in the country.

The Role Of Central Banks In Capital Market Development: The Nigerian Experience., Alhaji A. Ahmed

Bullion

Central banks, especially in Third World countries, play a major role in the growth and development process. Although the structures, functions and powers of central bank vary from country to country, depending on the economic, political, social and other environmental realities prevailing in society, the primary role of any central bank is the promotion of monetary stability and a sound financial system. In performing this role, a central bank necessarily undertakes some functions which include the issue of legal tender currency, maintenance of the value of the national currency, enhancement of funds mobilization, facilitation of competitive efficiency among banks and …

The Role Of Regulatory Bodies In Capital Market Development: The Nigerian Experience., George Akamiokhor

Bullion

This paper examined the need for capital market regulation which is motivated by the desire to protect the investing public from malpractices, instil confidence in the system and ensure financial market and economic stability which are pivotal to economic growth and development. History has shown that inadequate or absence of regulation is detrimental to the capital market as it encourages sharp practices by participants. Regulatory agencies are therefore necessary to police activities in the market with the aim of preventing or minimizing abuses which might mar investors’ confidence, the market's integrity and stability. As financial markets get liberalized, market participants …

International Financial Operations In Nigeria’S Export Processing Zones (Epzs), A. P. Awoseyila

Bullion

Since the inception of SAP, the Federal Government has introduced many far reaching economic and financial measures aimed at promoting non-oil exports. Such measures include the promulgation of the incentives and Miscellaneous Provisions Decree, No. 18 of 11th July, 1986, the establishment of the Nigerian Export Import Bank (NEXIM) to provide different funds and financial assistance to exporters, the introduction of the Nigeria Economic Reconstruction Fund (NERFUND), the setting up of Small and Medium Scale Enterprises Fund (SMEs Fund) and the deregulation of the Foreign Exchange Market (FEM) which has resulted in significant depreciation of the naira exchange rate. The …

The Challenges Of The New Banking Legislations, Oduyemi O. S.

Bullion

This paper examines Nigeria's new banking legislations. The new banking laws together with deposit insurance system, established in 1988, and the new regulations embodies in the prudential guidelines and the accounting standards for banks, both introduced in 1990, constitute and essential foundation for managing and promoting a dynamic and sound financial sector. The new regulatory environment places emphasis on the need for institutions to strengthen and build up capital, improve the quality of assets and maintain high lending and investment standards. The paper is in three parts. Part I reviews some of the major trends in the financial industry with …

Regulatory Framework Of Non-Bank Financial Institutions In Nigeria., Ojo M. O.

Bullion

This article examines the regulatory framework of non-banking institutions (NBFIs) in Nigeria. Those institutions often referred to as non-banks have been identified. However, it is noted that in this paper non-bank financial institution are those defined as other financial institutions by the Banks and Other Financial Institutions Decree (BOFID). The objective of this paper is to present an overview of the regulation of the non-bank financial institutions over the years. Part One of this paper identified the relevant institutions termed non-bank financial institutions. Part Two, the new regulatory framework is reviewed. This is followed in Part Three by an appraisal …

The Need For Discount Houses In Nigeria., O S. Oduyemi

Bullion

Given the rapid expansion of Nigerian economy and the growth in government activities, discount houses in Nigeria will not only have busy schedules but will also be lucrative. The paper discusses the antecedents for the establishment of discount houses in Nigeria as well as their functions. To facilitate the presentation, the paper is divided into three parts. Part I highlights the role of discount houses and their functions. Part II discuss the rationale for establishing discount houses in Nigeria. The paper ends in part III which contains a discussion on prospects of discount houses in Nigeria as well as a …

The Role Of Discount Houses In Monetary Policy Implementation., B. A. Oke

Bullion

Discount houses are financial institutions which shift funds between the central bank on one hand and licensed banks on the other hand, through the provision of discounting and re-discounting of eligible short-term securities such as treasury bills and certificates and commercial bills. The purpose of this paper therefore is to highlight the role of discount houses in monetary policy implementation. Part I discusses the assets structure a d functions of discount houses. Part II discusses the role of discount houses in monetary policy implementation. Part II highlights the relationship between a central bank and discount houses while Part IV focuses …

Nigerian Exchange Rate Administration Under The Structural Adjustment Programme., E A. Owolabi

Bullion

This paper has been concerned with describing the administration of the naira exchange rate primarily under the on-going Structural Adjustment Programme (SAP). The aim of this paper is to briefly review the administration of Nigeria's exchange rate policy since inception of the market- determined exchange rate system. The discussion is organized in four main parts. Part I, exchange rate administration before the introduction of Structural Adjustment Programme (SAP) in July 1986 is briefly reviewed to provide the necessary background for adopting the market-determined system under SAP. Part II is devoted to the analysis of the structure of the foreign exchange …

Exchange Rates Developments In Nigeria, R A. Olukole

Bullion

This paper discusses the determinants and behaviour of exchange rates. It also examines the exchange rate policies in Nigeria from 1960 - 1991. The pricing methodology was examined with an overview of the Naira exchange rate movements from 1986 - 1991. The paper is divided into four parts. Part I highlights the determinants and behaviour of exchange rates. Part II discusses the exchange rate policies in Nigeria from 1986 - 1991. Part III focuses on the pricing methodology with an overview of the Naira exchange rate movements from 1986-1991. Part IV examines the Parallel market and the Bureau DE Change …

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 …

The Leverage Problem In The Valuation Of Privately Held Firms, Thomas Berry, John Houston

College of Business Faculty and Staff Works

No abstract provided.

Feeding Behaviour Of Live Sheep During Export, C L. Mcdonald

Journal of the Department of Agriculture, Western Australia, Series 4

Live sheep exporters in Western Australia often hold as many as 00 000 sheep in assembly feedlots while the consignment is being purchased and assembled before shipment. During the assembly phase the sheep ane introduced to the pelleted rations used on board.

Industry reports have highlighted the wide variability in condidtions, facilities and procedures used, and showed that there was little evidence from which to make recommendations to the live sheep shipping indudtry. This article discusses ten experiments by the Department of Agriculture from 1981 to 1985 designed to investigate what influences the feeding behaviour of Merino wethers under conditions …

Economic Activities Of Children In Two Iranian Villages, Akbar Aghajanian

Sociology Department Faculty Working Papers

No abstract provided.

The Role Of Patronage In Public Wage Determination, John Fessick

Business and Economics Honors Papers

Patronage politics and government behavior, in general, lend themselves to economic model building and empirical analysis. They both require human processes to function. They are human institutions - shaped and molded by people. Because human beings are so vital a part of government and the behavior of decision-makers within that institution, assumptions of self-interest and the rational man lead to important implications which are necessary to the understanding and reshaping of government in order for it to work for the "common good." Only by understanding the framework of government and presenting an accurate picture of human behavior within that framework …

A Study Of Wage Contour Determinants For Northern Minnesota, Robert D. Ley, William A. Wines

Journal of the Minnesota Academy of Science

This paper reports the findings of a study designed to profile wages and employment in northern Minnesota. Because of differences in the structure of the local economy and differences in the composition of the labor force, we hypothesized that studies done for other regions as well as national studies might produce misleading information if applied to northern Minnesota. The study is based on responses to 1400 mail surveys distributed in 1983 in four cities in northern Minnesota: Bemidji, Brainerd, Fergus Falls, and Grand Rapids. We found some surprising differences between the workforces in the four cities. Our overall impression was …

Income Distribution, Export Instability, And Savings Behavior, David Lim

Support & Other Units (THEi)

This paper examines the effects of income distribution and export instability on the savings ratios of a group of 12 developed and 52 less developed countries (DCs and LDCs) for 1968-73. The effect of income distribution on savings has been studied before but not on as comprehensive a group of countries as presented here. The effect of export instability on savings has not been examined before in the literature on the determinants of savings behavior. It has, however, been discussed in the literature on the relationship between export instability and economic growth and part of the purpose of this paper …