Economic Theory Commons^™

Consistent Differences In A Virtual World Model Of Ape Societies, Bart J. Wilson, Sarah F. Brosnan, Elizabeth V. Lonsdorf, Crickette M. Sanz

ESI Publications

Practical and ethical constraints limit our ability to experimentally test socioecological theory in wild primates. We took an alternate approach to model this, allowing groups of humans to interact in a virtual world in which they had to find food and interact with both ingroup and outgroup avatars to earn rewards. We altered ratios and distributions of high- and low-value foods to test the hypothesis that hominoids vary with regards to social cohesion and intergroup tolerance due to their feeding ecology. We found larger nesting clusters and decreased attacks on outgroup competitors in the Bonobo condition versus the Chimpanzee condition, …

The Impact Of The Covid-19 Pandemic On Economic Behaviours And Preferences: Experimental Evidence From Wuhan, Jason Shachat, Matthew J. Walker, Lijia Wei

ESI Working Papers

We examine how the emergence of Covid-19 in Wuhan, and the ramifications of associated events, influence pro-sociality, trust and attitudes towards risk and ambiguity. We assess these influences using an experiment consisting of financially incentivized economic tasks. We establish causality via the comparison of a baseline sample collected pre-epidemic with five sampling waves starting from the imposition of a stringent lock- down in Wuhan and completed six weeks later. We find significant long-term increases - measured as the difference between the baseline and final wave average responses - in altruism, cooperation, trust and risk tolerance. Participants who remained in Wuhan …

Does Free Information Provision Crowd Out Costly Information Acquisition? It’S A Matter Of Timing, Diego Aycinena, Alexander Elbittar, Andrei Gomberg, Lucas Rentschler

ESI Working Papers

We consider the issue of how timing of provision of additional information affects information-acquisition incentives. In environments with costly attention, a sufficiently confident agent may choose to act based on the prior, without incurring those costs. However, a promise of additional information in the future may be used to encourage additional attentional effort. This may be viewed as a novel empirical implication of rational inattention. In a lab experiment designed to test this theoretical prediction, we show that promise of future “free” information induces subjects to acquire information which they would not be acquiring without such a promise.

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 …

New Kid On The Blockchain: The Rise Of Cryptocurrency In The Global Arena: Humanitarian Usage With Blockchain, Rhonda S. Binda

Open Educational Resources

In 2018, the world was shaken by the fast rise of Bitcoin and other cryptocurrencies that use a decentralized, blockchain technology for payment transfers outside of the traditional banking system. The potential impact this alternative form of banking could have in the medium and long term on the over 2 billion people globally unbanked is tremendous. Additionally, blockchain itself is being used for value transfer combined with bio and genetic tagging technologies in refugee camps for example, bringing to rise a new era where technology for development is disrupting education, healthcare and security programs globally.

Mechanisms Study: Using Game Theory To Assess The Effects Of Social Norms And Social Networks On Adolescent Smoking In Schools—Study Protocol, Ruth F. Hunter, Felipe Montes, Jennifer M. Murray, Sharon C. Sanchez-Franco, Shannon C. Montgomery, Joaquín Jaramillo, Christopher Tate, Rajnish Kumar, Laura Dunne, Abhijit Ramalingam, Erik O. Kimbrough, Erin Krupka, Huiyu Zhou, Laurence Moore, Linda Bauld, Blanca Llorente, Olga L. Sarmiento, Frank Kee

Economics Faculty Articles and Research

This proof of concept study harnesses novel transdisciplinary insights to contrast two school-based smoking prevention interventions among adolescents in the UK and Colombia. We compare schools in these locations because smoking rates and norms are different, in order to better understand social norms based mechanisms of action related to smoking. We aim to: (1) improve the measurement of social norms for smoking behaviors in adolescents and reveal how they spread in schools; (2) to better characterize the mechanisms of action of smoking prevention interventions in schools, learning lessons for future intervention research. The A Stop Smoking in Schools Trial (ASSIST) …

Data For "Consistent Differences In A Virtual World Model Of Ape Societies", Bart J. Wilson, Sarah F. Brosnan, Elizabeth V. Lonsdorf, Crickette M. Sanz

Business and Economics Faculty Data Sets

The zip file contains the data for the paper entitled "Consistent Differences in a Virtual World Model of Ape Societies" which appears in Scientific Reports.

The Property Species: Mine, Yours, And The Human Mind, Bart J. Wilson

Economics Faculty Books and Book Chapters

"Arguing that neither the sciences nor the humanities synthesizes a full account of property, the book offers a cross-disciplinary compromise that is sure to be controversial: Property is a universal and uniquely human custom. Integrating cognitive linguistics with philosophy of property and a fresh look at property disputes in the common law, the book makes the case that symbolic-thinking humans locate the meaning of property within a thing. That is, all human beings and only human beings have property in things, and at its core, property rests on custom, not rights. Such an alternative to conventional thinking contends that the …

Essays On Climate Change-Related Extreme Events, Alvin E. Harris

Dissertations

There are increasing and urgent calls for global economies to join in the fight against the impacts of climate change (World Bank, 2020). With reports such as the World Bank (2020) of climate change costing billions of dollars in losses for economies, the purpose of my dissertation is to examine the effects of climate change-related extreme events and their potential economic effects in three areas: agriculture, migration, and the labor market.

My first essay focuses on the factors that influence farmers’ perception of risk and adaptive strategies against the effects of climate change-related extreme events. I examine whether farmers’ social …

Opportunity Cost, Inattention And The Bidder's Curse, David J. Freeman, Erik O. Kimbrough, J. Philipp Reiss

Economics Faculty Articles and Research

Auction winners sometimes suffer a “bidder’s curse”, paying more for an item at auction than the fixed price charged for an identical item by other sellers. This seemingly irrational behavior is puzzling because the information necessary to avoid overpaying would appear to be readily available to bidders, yet they seem to ignore it. To understand this behavior, we consider the bidders’ decisions whether to acquire information about the fixed price before bidding, in the presence of opportunity costs. Our theory introduces costly information acquisition into an auction model, with a fixed price aftermarket selling an identical good. When information about …

The Impact Of Taxes And Wasteful Government Spending On Giving, Roman Sheremeta, Neslihan Uler

ESI Working Papers

We examine how taxes impact charitable giving and how this relationship is affected by the degree of wasteful government spending. In our model, individuals make donations to charities knowing that the government collects a flat-rate tax on income (net of charitable donations) and redistributes part of the tax revenue. The rest of the tax revenue is wasted. The model predicts that a higher tax rate increases charitable donations. Surprisingly, the model shows that a higher degree of waste decreases donations (when the elasticity of marginal utility with respect to consumption is high enough). We test the model’s predictions using a …

The Economics Of Babysitting A Robot, Aleksandr Alekseev

ESI Working Papers

I study the welfare effect of automation on workers in a setting where technology is complementary but imperfect. Using a modified task-based framework, I argue that imperfect complementary automation can impose non-pecuniary costs on workers via a behavioral channel. The theoretical model suggests that a critical factor determining the welfare effect of imperfect complementary automation is the automatability of the production process. I confirm the model's predictions in an experiment that elicits subjects' revealed preference for automation. Increasing automatability leads to a significant increase in the demand for automation. I explore additional drivers of the demand for automation using machine …

Immune Function During Pregnancy Varies Between Ecologically Distinct Populations, Carmen Hové, Benjamin C. Trumble, Amy S. Anderson, Jonathan Stieglitz, Hillard Kaplan, Michael Gurven, Aaron Blackwell

ESI Publications

Background and objectives

Among placental mammals, females undergo immunological shifts during pregnancy to accommodate the fetus (i.e. fetal tolerance). Fetal tolerance has primarily been characterized within post-industrial populations experiencing evolutionarily novel conditions (e.g. reduced pathogen exposure), which may shape maternal response to fetal antigens. This study investigates how ecological conditions affect maternal immune status during pregnancy by comparing the direction and magnitude of immunological changes associated with each trimester among the Tsimane (a subsistence population subjected to high pathogen load) and women in the USA.

Methodology

Data from the Tsimane Health and Life History Project (N = 935) and …

Public Leaderboard Feedback In Sampling Competition: An Experimental Investigation, Stanton Hudja, Brian Roberson, Yaroslav Rosokha

ESI Working Papers

We investigate the role of performance feedback, in the form of a public leaderboard, in a sequential-sampling contest with costly observations. The player whose sequential random sample contains the observation with the highest value wins the contest and obtains a prize with a fixed value. We find that there exist parameter configurations such that in the subgame perfect equilibrium of contests with a fixed ending date (i.e., finite horizon), providing public performance feedback results in fewer expected observations and a lower expected value of the winning observation. We conduct a controlled laboratory experiment to test the theoretical predictions, and find …

Forecasting Skills In Experimental Markets: Illusion Or Reality?, Brice Corgnet, Cary Deck, Mark Desantis, David Porter

ESI Working Papers

Using experimental asset markets, we study the situation of a financial analyst who is trying to infer the fundamental value of an asset by observing the market’s history. We find that such capacity requires both standard cognitive skills (IQ) as well as social and emotional skills. However, forecasters with high emotional skills tend to perform worse when market mispricing is high as they tend to give too much emphasis to the noisy signals from market data. By contrast, forecasters with high social skills perform especially well in markets with high levels of mispricing in which their skills could help them …

Trust, Reciprocity, And Social History: New Pathways Of Learning When Max U (Own Reward) Fails Decisively, Vernon L. Smith

ESI Working Papers

"This evaluation begins with the BDM protocol—itself a methodological contribution—and the experimental findings. The question of the replicability and robustness of these unexpected results is addressed next in a summary of two subsequent experimental papers. We follow with a discussion of two attempts to explain qua understand the BDM findings; both, however, have methological deficiencies—Reciprocity and Social Preference explanations. Finally, we offer a brief on Adam Smith’s (1759; 1853; hereafter in the text, Sentiments) model of human sociability, based on strictly self-interested actors, that culminates in propositions that (1) account for trust game choices, and (2) predict action in new …

Waktu Tunggu Pemulangan Pasien Rawat Inap Rumah Sakit Swasta X Di Tangerang Selatan, Supriadi Supriadi, Prezhy Putri

Jurnal Administrasi Bisnis Terapan

This study aims to obtain an overview of the waiting time of inpatients discharge from 3 groups of patients and the factors causing the long waiting time. The 3 groups of patients are private payment patients, BPJS Kesehatan patients and private health insurance patients.This research is a descriptive study with data of 150 patients, divided into 50 patients for each group. All patient data were observed for discharge waiting time process in the inpatient administration unit. To complete the information on factors causing the lengthy waiting time for patient discharge, interviews were conducted with inpatient administration officers.The observation show, it …

Identifikasi Kelengkapan Pengisian Metadata Rekam Medis Rawat Jalan Rsia Bunda Aliyah Depok, Nur Fadilah Dewi, Niko Grataridarga, Rahmi Setiawati, Qonita Naila Syahidah

Jurnal Administrasi Bisnis Terapan

Background: Medical records / patient medical records are an important part in helping the implementation of health services to patients in the hospital. Based on Permenkes No. regulation 269 / Menkes / Per / III / 2008, a medical record is a file that contains records and documents about the patient's identity, examination, treatment measures and other services that have been provided to the patient. The research objective is to identify the completeness of filling medical records in the outpatient unit of RSIA Bunda Aliyah, in the context of efforts to improve health services in hospitals, medical records can also …

Efektivitas Ecompass Sebagai Electronic Document Management System (Edms) Dalam Mendukung Performa Unit Kerja Di Lembaga Penjamin Simpanan, Wahyu Nofiantoro, Anisya Dewi Kusmardianto

Jurnal Administrasi Bisnis Terapan

LPS is an independent institution established under the Law of Republic of Indonesia number 24 year 2004 on the Deposit Guarantee Board, which aims to ensure the savings of the banking customer in Indonesia. In doing its job, LPS implements a system named eCompass as Electronic Document Management System (EDMS) that has features to manage organizational documents but only a small part of working units in the LPS that have utilized the system, the purpose of this research is to measure the effectiveness of eCompass information system to the archive unit that has used eCompass system in LPS. The Weaver …

Kelemahan Penggunaan E-Filling Pada Pengisian Surat Pemberitahuan Tahunan Pajak Penghasilan Orang Pribadi Dengan Periode Penghasilan Kurang Dari 12 Bulan, Titin F. Nur, Febry Valentinus

Jurnal Administrasi Bisnis Terapan

This study aims to determine one of the weaknesses of the e-filing applications in reporting Annual Personal Tax Return with a case of earning less than 12 months. This study uses qualitative methods and data collection techniques used are literature studies, interviews and field studies. The selection of respondents with the following criteria : an individual taxpayer, has income from one employer in Jakarta with income period less than 12 months. Data analysis is carried out by reducing data, calculating, presenting data and drawing conclusions. The results of the study are using e-Filing application for reporting normal tax return is …

Analisis Penerapan Good Corporate Governance Pt Asuransi Purna Artanugraha, Mochammad Ulin Nuha, Sayyida Afifa, Karin Amelia Safitri

Jurnal Administrasi Bisnis Terapan

In order for the company to progress in achieving profitability, it implements the Good Corporate Governance (GCG) Principle. PT Asuransi Purna Artanugraha is conducting a compliance test by assessing each division so that problems do not arise or fraud that is not in accordance with company rules. Good Corporate governance, if good, it will get a good company value PT ASURANSI Purna Artanugraha will increase. The author will look for differences in the value of Good Corporate Governance of Full Artanugraha Insurance Companies in 2017 and 2018 in order to know the effectiveness of their application in the two years. …

Analisis Asosiasi Merek Iphone Pada Mahasiswa Vokasi Ui Di Masa Pandemi, Arius Krypton

Jurnal Administrasi Bisnis Terapan

This article highlights the integrated marketing communication strategy used by Iphone as a premium smartphone brand facing the competition with other brand during the pandemic.This research will discuss how Iphone is associated by its customer. The theory used on this research is consumer based research by Heding, Knudtzen and Mogens. In depth interviews took place to several Iphone users Vokasi UI college students as a data collecting method. All informants associated the Iphone brand not only for its high price but also from its product quality, shape, features, user experience and symbolic meaning are the result of this research. Consumer …

Peran Dan Fungsi Divisi Sekretariat Pada Pt Xyz, Radityo Kusumo Santoso, Nur Fadilah Dewi, Salsa Aliffia

Jurnal Administrasi Bisnis Terapan

This Final Project Task aims to provide information related to the Application of the Role and Function of the Secretariat Division in Supporting Division Performance at PT Perkebunan Nusantara III (Persero). In carrying out this task, the secretariat division requires a performance appraisal to support the performance of the division. Therefore in the assessment, a questionnaire is needed to produce an answer from the respondent where the results are use for a data test in a validity test data using SPSS V.26 software, the next step is reliability test that aims to determine the extent to which the measurement result …

Implementasi Sapta Pesona Sebagai Upaya Dalam Memberikan Pelayanan Prima Pada Wisatawan Di Desa Wisata Pentingsari, Rahmi Setiawati, Pandu Siwi Tri Aji

Jurnal Administrasi Bisnis Terapan

The application of Sapta Pesona is one of the efforts in providing excellent services to tourists, especially for tourism villages, so that the participation of the community consisting of tourism consicious groups, hoemestay owners and the government is needed. This Study aims to describe the application of Sapta Pesona in Pentingsari Village in Providing excellent service. The Concept used is excellent service, village tourism and community based tourism. The research method used was qualitative with interview, observation and literature study date collection Techniques. The result of the Tourism Village, Because the tourism village has special characteristics that can be used …

Strategic Problems With Risky Prospects, Alessandro Sontuoso, Cristina Bicchieri, Alexander Funcke, Einav Hart

ESI Working Papers

We study “hypothetical reasoning” in games where the impact of risky prospects (chance moves with commonly-known conditional probabilities) is compounded by strategic uncertainty. We embed such games in an environment that permits us to verify if risk-taking behavior is affected by information that reduces the extent of strategic uncertainty. We then test some implications of expected utility theory, while making minimal assumptions about individuals’ (risk or ambiguity) attitudes. Results indicate an effect of the information on behavior: this effect is triggered in some cases by a belief-revision about others’ actions, and in other cases by a reversal in risk …

Working Paper No. 49, On Joseph Schumpeter And Economic Development, Serene Mistkawi

Working Papers in Economics

In his writings Joseph Schumpeter stresses the important role played by the entrepreneur, serving as the agent bringing about change and contributing dynamic activities to an economy. Also, Schumpeter views capitalism as an evolving system, with his entrepreneur contributing to this evolution. Schumpeter also stresses the importance of innovation for enabling an entrepreneur to earn and accumulate profits. Related to innovation, Schumpeter’s entrepreneur can help bring about a “creative destruction.” This is thought to take place as outmoded businesses fail and their productive assets are bought up and creatively reorganized and brought back into production. In this manner, Schumpeter’s entrepreneur …

Working Paper No. 44, The Evolution Of The Landlord, Jaye Balentine

Working Papers in Economics

This inquiry seeks to establish that the meaning of the term ‘the landlord’ has evolved over the course of history. In this sense, this inquiry contributes not only to the disciplines of History and Politics, but also to the field of the History of Economic Thought and the subfield of Evolutionary-Institutional Economics, carrying on the tradition established by Thorstein Veblen. A pervasive and dominant institution during the feudal era, the landlord has since evolved considerably, shifting away from the position of a predominantly political institution into a more economically oriented, capitalist institution. As a figure and agent operating within societies, …

Rationing Social Contact During The Covid-19 Pandemic: Transmission Risk And Social Benefits Of Us Locations, Seth G. Benzell, Avinash Collis, Christos Nicolaides

Economics Faculty Articles and Research

To prevent the spread of coronavirus disease 2019 (COVID-19), some types of public spaces have been shut down while others remain open. These decisions constitute a judgment about the relative danger and benefits of those locations. Using mobility data from a large sample of smartphones, nationally representative consumer preference surveys, and economic statistics, we measure the relative transmission reduction benefit and social cost of closing 26 categories of US locations. Our categories include types of shops, entertainments, and service providers. We rank categories by their trade-off of social benefits and transmission risk via dominance across 13 dimensions of risk and …

Willingness To Pay Of Urban Households For The Conservation Of Natural Resources And Cultural Heritage In A Neighboring Rural Area: A Cvm Study, Rosalina Palanca-Tan

Economics Department Faculty Publications

Koronadal households benefit from Lake Sebu’s natural resources (lakes, waterfalls, rivers and springs, forest land, agricultural land) and cultural heritage (arts and handicrafts such as T’nalak weaving, brass casting, beadwork, and wood carving; music and dances; festivals; and beliefs and traditions of the T’boli indigenous tribe) in terms of recreation, good image and sense of pride, tourism income generation, the supply of high-quality tilapia, agricultural products supply, potential hydroelectric power source, biodiversity, and climate change mitigation. These benefits are integrated into a single estimate using the contingent valuation method. In the study, a sample of 524 Koronadal households was asked …

The Ethics Of Capitalism: An Introduction, Daniel Halliday, John Thrasher

Philosophy Faculty Books and Book Chapters

"The textbook covers longstanding problems that are as old as the discussion of capitalism itself, such as wage inequality, global trade, and the connection between paid labor and human flourishing. It also addresses new challenges, such as climate change, the welfare state, and competitive consumption, and provides topical global case studies. Additionally, it includes study questions at the end of each chapter and an author-created companion website to help guide classroom discussion."