Better-Than-Chance Prediction Of Cooperative Behaviour From First And Second Impressions,
2022
Chapman University
Better-Than-Chance Prediction Of Cooperative Behaviour From First And Second Impressions, Eric Schniter, Timothy W. Shields
ESI Working Papers
Could cooperation among strangers be facilitated by adaptations that use sparse information to accurately predict cooperative behaviour? We hypothesize that predictions are influenced by beliefs, descriptions, appearance, and behavioural history available for first and second impressions. We also hypothesize that predictions improve when more information is available. We conducted a two-part study. First, we recorded thin-slice videos of university students just before their choices in a repeated Prisoner’s Dilemma with matched partners. Second, a worldwide sample of raters evaluated each player using either videos, photos, only gender labels, or neither images nor labels. Raters guessed players’ first-round Prisoner’s Dilemma choices …
Contingent Payments In Procurement Interactions - Experimental Evidence,
2022
Newcastle University
Contingent Payments In Procurement Interactions - Experimental Evidence, Matthew J. Walker, Jason Shachat, Lijia Wei
ESI Working Papers
A primary objective of creating competition among suppliers is the procurement of higher quality goods and services at lower prices. When procuring non-standard goods, it is often difficult to write a complete specification of desired quality in the contract. Thus, payments to suppliers cannot be perfectly conditioned on the quality provided. We propose a correlated contingent payment contract to mitigate the supplier moral hazard problem while retaining competitive supplier selection based on price. We treat the probability of implementing contingent payments as probabilistic. The selected supplier’s payment is, according to a fixed probability, either the amount of their bid or …
The Penn Effect And Marx's International Law Of Value: A Review Of Value And Unequal Exchange By Andrea Ricci,
2022
Sapienza University of Rome
The Penn Effect And Marx's International Law Of Value: A Review Of Value And Unequal Exchange By Andrea Ricci, Giuseppe Quattromini
Markets, Globalization & Development Review
Placing itself in the revival of interest in unequal exchange, Ricci's book claims the need to give the theory a new conceptual foundation to justify recent proposals to estimate unequal exchange on the basis of the so-called Penn effect. In order to do that, Ricci identifies Marx's international law of value as a fitting theoretical framework and hence develops a radically innovative theory of global capitalist exploitation through international trade. Finally, he assesses the magnitude of unequal exchange over the past three decades by producing estimates based on the proposed approach.
Prolegomena To A Buddhist(Ic) Critique Of Capitalism,
2022
Bucknell University
Prolegomena To A Buddhist(Ic) Critique Of Capitalism, James Mark Shields
Faculty Contributions to Books
Not even three decades removed from Francis Fukuyama’s post-Cold War proclamation of the “End of History,” the Western world is now undergoing a crisis of conscience – at the very least – with respect to both capitalism as an economic system and neoliberalism as its less-recognized but ever-present ideological foundation. The financial crisis of 2008, the subsequent Great Recession, the Occupy movement(s) of 2011, the 2016 challenge of self-styled Democratic Socialist Senator Bernie Sanders for the Democratic nomination, and growing anxiety about the fate of the planet, particularly among the young, have opened up new avenues of critique, and brought …
Maskin Meets Abreu And Matsushima,
2022
Singapore Management University
Maskin Meets Abreu And Matsushima, Yi-Chun Chen, Takashi Kunimoto, Yifei Sun, Siyang Xiong
Research Collection School Of Economics
The theory of full implementation has been criticized for using integer/modulo games, which admit no equilibrium (Jackson (1992)). To address the critique, we revisit the classical Nash implementation problem due to Maskin (1977, 1999) but allow for the use of lotteries and monetary transfers as in Abreu and Matsushima (1992, 1994). We unify the two well-established but somewhat orthogonal approaches in full implementation theory. We show that Maskin monotonicity is a necessary and sufficient condition for (exact) mixed-strategy Nash implementation by a finite mechanism. In contrast to previous papers, our approach possesses the following features: finite mechanisms (with no integer …
On The Market For "Lemons": When Low Quality Does Not Drive High Quality Out Of The Market,
2022
University of Nebraska-Lincoln
On The Market For "Lemons": When Low Quality Does Not Drive High Quality Out Of The Market, Konstantinos Giannakas, Murray E. Fulton
Cornhusker Economics
In a research article published in Nature's Humanities and Social Sciences Communications (available at https://www.nature.com/articles/s4l 599-020-00658-w) we identify the conditions under which the introduction of a low -quality product does not drive its high-quality counterpart out of the market but, instead, ends-up coexisting with it. Using a theoretical framework of heterogeneous consumers and producers in the context of a market for quality- ( or vertically-) differentiated products supplied by producers differing in their production efficiency, we show that the equilibrium quality configuration in a market depends on both the unobservability of product quality by consumers and the relative costs …
In Favor Of Bringing Game Theory Into Urban Studies And Planning Curriculum: Reintroducing An Underused Method For The Next Generation Of Urban Scholars,
2022
Portland State University
In Favor Of Bringing Game Theory Into Urban Studies And Planning Curriculum: Reintroducing An Underused Method For The Next Generation Of Urban Scholars, Brian Mcdonald Gardner
Dissertations and Theses
By looking at some historical examples of Urban Studies literature and theory (and a detailed dive into Neil Smith's "Toward a theory of gentrification…") this thesis makes the case that Game Theory has valid insights to add to the foundation of Urban Studies and Planning and should be included in Masters and Doctorate level curriculums. As a discipline Game Theory has revolutionized multiple other fields, and can be used both mathematically and/or non-mathematically. It is postulated below that the inclusion of Game Theory would help scholars and practitioners arrive at better outcomes. This case is made by reviewing various areas …
Unfair Commercial Practices In A Pit Market: Evidence From An Artefactual Field Experiment,
2022
Università degli Studi di Bergamo
Unfair Commercial Practices In A Pit Market: Evidence From An Artefactual Field Experiment, Francesco Bogliacino, Rafael Charris, Cristiano Codagnone, Frans Folkvord, Felipe Montealegre, Francisco Lupiáñez-Villanueva
ESI Publications
Commercial practices such as drip pricing, reference pricing and best-price guarantee can be used to set higher prices and mislead consumers, but protective measures can restore efficiency. In a placebo-controlled market experiment, we examined a treatment allowing for the use and misuse of commercial practices. Three additional treatments tested the effects of formal sanctions, informal sanctions and a regret nudge. We found that commercial practices led to higher prices, cheating was systematic and regret nudging was ineffective. Furthermore, formal and informal sanctions reduced both the likelihood of using commercial practices and the likelihood of cheating, leading to welfare increases.
Market Feminism In Morocco,
2022
SIT Study Abroad
Market Feminism In Morocco, Claire Madsen
Independent Study Project (ISP) Collection
Despite widespread views of “Moroccan Exceptionalism,” Morocco continues to rank poorly on international evaluations of gender equality. This project seeks to understand the extent of the influence neoliberal economic forces in Morocco have had on the feminist landscape. Analysis of Moroccan political history, Foucauldian theories of power relations, and relevant literature on state feminism set the groundwork for the evaluation of the extent state feminism in Morocco can be understood as market-based, in accordance with the definition from From State Feminism to Market Feminsim (2012) by Kantola and Squires. Through interviews of three experts, three meetings with women’s empowerment NGOs, …
Litigation With Negative Expected Value Suits: An Experimental Analysis,
2022
Chapman University
Litigation With Negative Expected Value Suits: An Experimental Analysis, Cary Deck, Paul Pecorino, Michael Solomon
ESI Working Papers
The existence of lawsuits providing plaintiffs a negative expected value (NEV) at trial has important theoretical implications for signaling models of litigation. The signaling equilibrium possible absent NEV suits breaks down with NEV suits because plaintiffs do not have a credible threat to proceed to trial undermining the ability to signal type. Using a laboratory experiment, we analyze behavior with and without the possibility of NEV suits. Absent NEV suits, behavior largely follows predicted patterns. However, the possibility of NEV suits does not cause the signaling equilibrium to unravel and does not cause the dispute rate to increase. Plaintiffs only …
Inequality As A Barrier To Economic Integration? An Experiment,
2022
Chapman University
Inequality As A Barrier To Economic Integration? An Experiment, Gabriele Camera, Lukas Hohl, Rolf Weder
ESI Working Papers
International economic theory suggests that people should embrace economic integration because it promises large gains. But policy reversals such as Brexit indicate a desire for economic disintegration. Here we report results of an experiment of how size and cross-country distribution of gains from integration influence individuals’ inclination to cooperate to reap its intended benefits and to embrace or reject integration. The design considers an indefinitely repeated helping game with multiple equilibria and strategic uncertainty. The data reveal that inequality of potential gains neither affected behavior nor reduced support for economic integration. However, integration may lead to disappointing, unequally distributed welfare …
The Personality And Cognitive Traits Associated With Adolescents’ Sensitivity To Social Norms,
2022
Queen’s University Belfast
The Personality And Cognitive Traits Associated With Adolescents’ Sensitivity To Social Norms, Christopher Tate, Rajnish Kumar, Jennifer M. Murray, Sharon Sanchez-Franco, Olga L. Sarmiento, Shannon C. Montgomery, Huiyu Zhou, Abhijit Ramalingam, Erin Krupka, Erik Kimbrough, Frank Kee, Ruth F. Hunter
Economics Faculty Articles and Research
Little is known about the personality and cognitive traits that shape adolescents’ sensitivity to social norms. Further, few studies have harnessed novel empirical tools to elicit sensitivity to social norms among adolescent populations. This paper examines the association between sensitivity to norms and various personality and cognitive traits using an incentivised rule-following task grounded in Game Theory. Cross-sectional data were obtained from 1274 adolescents. Self-administered questionnaires were used to measure personality traits as well as other psychosocial characteristics. Incentivised rule-following experiments gauged sensitivity to social norms. A series of multilevel mixed effects ordered logistic regression models were employed to assess …
Plato’S Market Optimism,
2022
Chapman University
Plato’S Market Optimism, Brennan Mcdavid
Philosophy Faculty Articles and Research
Despite the extensiveness of top-down control in his ideal city, Plato takes seriously the idea that the market does not require total regulation via legislation and that participants in the market may be capable of self-regulation. This paper examines the discussion of market regulation in the Republic and argues that the philosopher rulers play a very limited role in regulating market activities. Indeed, they are concerned only with averting excesses of wealth and poverty. The rules and regulations that are foundational to the daily functioning of the market – enforcement of contracts, resolution of disputes, etc. – are endogenous to …
Information Aggregation With Heterogeneous Traders,
2022
Chapman University
Information Aggregation With Heterogeneous Traders, Cary Deck, Tae In Jun, Laura Razzolini, Tavoy Reid
ESI Working Papers
The efficient market hypothesis predicts that asset prices reflect all available information. A seminal experiment reported that contingent claim markets could yield market outcomes consistent with information aggregation when traders hold heterogeneous state-contingent values. However, a recent experiment found the rational expectation model outperformed the prior information and maxi-min models in contingent claim markets when traders hold homogeneous values despite the no trade equilibrium in that setting. But that same study failed to replicate the original result calling into question when, if ever, prices reliably reflect the aggregate information of traders with heterogeneous values. In this paper, we show contingent …
United We Stand: On The Benefits Of Coordinated Punishment,
2022
University of Valencia
United We Stand: On The Benefits Of Coordinated Punishment, Vicente Calabuig, Natalia Jiménez, Gonzalo Olcina, Ismael Rodriguez-Lara
ESI Working Papers
Coordinated punishment occurs when punishment decisions are complements; i.e., this punishment device requires a specific number of punishers to be effective; otherwise, no damage will be inflicted on the target. While societies often rely on this punishment device, its benefits are unclear compared with uncoordinated punishment, where punishment decisions are substitutes. We argue that coordinated punishment can prevent the free-riding of punishers and show, both theoretically and experimentally, that this may be beneficial for cooperation in a team investment game, compared with uncoordinated punishment.
Historical Political Economy: What Is It?,
2022
Chapman University
Historical Political Economy: What Is It?, Jeffrey Jenkins, Jared Rubin
ESI Working Papers
In this chapter, we define what historical political economy (HPE) is and is not, classify the major themes in the literature, assess the relative strengths and weaknesses of the literature, and point to future directions. We view HPE as social scientific inquiry which highlights political causes or consequences of historical issues. HPE is different from conventional political economy in the emphasis placed on historical processes and context. While we view HPE in the most inclusive manner reasonable, we define it to exclude works that are either solely of contemporary importance or use historical data without any historical context (e.g., long-run …
Telemedicine App: What’S Next After Pandemi?,
2022
Program Pendidikan Vokasi, Universitas Indonesia, Depok 16424, Indonesia
Telemedicine App: What’S Next After Pandemi?, Ari Nurfikri, Triana Karnadipa, Elsa Roselina
Jurnal Administrasi Bisnis Terapan
The positive trend of using telemedicine applications in Indonesia was significant in the earl of the COVID-19 pandemic, then gradually decreased. This study aims to determine the preferences of users of telemedicine applications and the desired features to be further developed satisfaction of users of telemedicine applications. This study uses quantitative methods by distributing questionnaires about user preferences, including security, trust, convenience, and usefulness, through the google form application to 523 respondents, data analysis using descriptive approach. Guaran- teed medical confidentiality is the most preferred by users of telemedicine applications by 72.70%. Telemedicine application providers can focus on developing features …
Kajian Importance Performance Analysis Sebagai Matriks Evaluasi Kinerja: Studi Kasus Workshop Pengembangan E-Learning Sman 39 Jakarta,
2022
Program Pendidikan Vokasi, Universitas Indonesia
Kajian Importance Performance Analysis Sebagai Matriks Evaluasi Kinerja: Studi Kasus Workshop Pengembangan E-Learning Sman 39 Jakarta, Heri Yuliyanto, Basuki Muhammad Mukhlish, Dyah Safitri, Nailul Mona
Jurnal Administrasi Bisnis Terapan
Along with the industrial revolution 4.0, the rapid development of information and communication technology (ICT) has changed organizations and individuals in carrying out daily activities. In the world of education, the increasingly sophisticated capabilities of mobile phones and portable computers are one of the factors that influence the development of online learning (e-learning). However, digital literacy is still needed to improve understanding and skills in the development of online learning (e-learning). This study propose a digital literacy workshop design to improve the quality of human resources; and evaluate the performance of the digital literacy workshop using the Importance Performance Analysis …
Perencanaan Pemesanan Obat Dengan Perhitungan Eoq Dan Rop Pada Instalasi Farmasi Rs Hermina Grand Wisata,
2022
Program Pendidikan Vokasi Universitas Indonesia
Perencanaan Pemesanan Obat Dengan Perhitungan Eoq Dan Rop Pada Instalasi Farmasi Rs Hermina Grand Wisata, Nur Fadilah Dewi, Vinca Alba Elsyifa Qolbiyah
Jurnal Administrasi Bisnis Terapan
Hospital Pharmacy Installation, a unit in a hospital where all pharmaceutical work activities are carried out starting from manufacturing, quality control of pharmaceutical preparations, control of supplies, prescription services, drug information services, counseling, clinical pharmacy in the room to anticipate shortages and stockouts of drugs. using the EOQ (Economic Order Quantity) and ROP (Reorder Point) methods. This study aims to describe the planning for ordering drugs at the Hermina Grand Wisata Hospital pharmacy in 2020. (1) Find out the number of drugs to be ordered using the EOQ calculation. (2) Knowing the time of reordering with the calculation of ROP. …
Implementasi Polis Asuransi Syariah Perjalanan Umrah (Aspu) Yang Diterbitkan Oleh Asosiasi Asuransi Syariah Indonesia (Aasi) Bagi Jemaah Umrah Di Masa Pandemi Covid-19,
2022
Program Pendidikan Vokasi, Universitas Indonesia
Implementasi Polis Asuransi Syariah Perjalanan Umrah (Aspu) Yang Diterbitkan Oleh Asosiasi Asuransi Syariah Indonesia (Aasi) Bagi Jemaah Umrah Di Masa Pandemi Covid-19, Erina Octaviani, Fia Fridayanti Adam
Jurnal Administrasi Bisnis Terapan
Umrah travel insurance was created to provide guarantees for compensation and benefits for Umrah pilgrims who travel for Umrah to the holy land. In this case, the Umrah Travel Sharia Insurance policy does not include a guarantee of protection for Umrah pilgrims affected by Covid-19. This paper discusses the implementation of the ASPU policy during the Covid-19 pandemic which was strengthened through a SWOT analysis. This research was conducted at the Indonesian Sharia Insurance Association using a qualitative descriptive method. Data collection was carried out from January to May 2022, using primary data originating from the return of COVID- 19 …
