Essays in Applied Econometrics and Behavioral Economics PDF Download
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Author: Thomas Deckers
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Thomas Deckers
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Nathan Charles Berg
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 204
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Author: Axel Ockenfels
Publisher: Springer Science & Business Media
ISBN: 3642139833
Category : Mathematics
Languages : en
Pages : 299
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Reinhard Selten, to date the only German Nobel Prize laureate in economics, celebrates his 80th birthday in 2010. While his contributions to game theory are well-known, the behavioral side of his scientific work has received less public exposure, even though he has been committed to experimental research during his entire career, publishing more experimental than theoretical papers in top-tier journals. This Festschrift is dedicated to Reinhard Selten’s exceptional influence on behavioral and experimental economics. In this collection of academic highlight papers, a number of his students are joined by leading scholars in experimental research to document the historical role of the “Meister” in the development of the research methodology and of several sub-fields of behavioral economics. Next to the academic insight in these highly active fields of experimental research, the papers also provide a glance at Reinhard Selten’s academic and personal interaction with his students and peers.
Author: Christian Zankiewicz
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages :
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Author: Hermann Brandstätter
Publisher: Springer Science & Business Media
ISBN: 3642486215
Category : Psychology
Languages : en
Pages : 246
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Economic behavior is explored from a psychological perspective by both, prominent economic psychologists with a long tradition in studying economic problems as well as economists who are open and interested in the psychological aspects of economic behavior. The contributions discuss the prospects and difficulties of this dialogue between psychology and economics and survey some important areas of research where such an interdisciplinary approach has proved to be successful. The text can also be used to introduce psychology to economists in order to give them an idea how to analyze economic problems from a psychological perspective. It also indicates many urgent and exciting research topics awaiting eager scholars to carry on the dialogue.
Author: George Katona
Publisher: Ann Arbor, Mich. : Survey Research Center, Institute for Social Research, University of Michigan
ISBN:
Category : Business & Economics
Languages : en
Pages : 120
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Author: Moritz Meyer
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 181
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Institutions, circumstances and interactions between agents shape economic outcomes on the individual and aggregate level. In this thesis I explore three different set ups which combine a theoretical model and an empirical framework to better understand how the wider environment influences behavior and outcomes in markets. The following three papers focus on applications in the areas of economic growth, labor markets and health economics. The global network position of an economy has a profound impact on economic growth. A new measure of economic integration is implemented to characterize economic globalization. Descriptive statistics suggest that this new methodology offers superior possibilities to capture global trends which reflect patterns of interactions between firms and countries. Findings from a modified empirical growth model suggest that a more central global network position fosters economic growth. Robustness checks and alternative estimation strategies address issues of endogeneity and reversed causality in a dynamic panel framework. Social networks and in particular the interaction between applicants, workers and firms influence labor market outcomes. The behavior of firms, workers and applicants during the recruitment process is modeled in a bayesian signaling model which under certain conditions predicts a higher match quality between an applicant and a firm if employee referrals were used. Here, the theoretical model pays special attention to potential incentive problems due to nepotism and favoritism. Empirical results suggest a higher starting wage and a longer duration of the position as well as a different earnings path for workers who learnt about their job through a social network. Individual behavior in terms of consumption depends on the health status. The theoretical concept of state dependent utility functions illustrates that changes in circumstances impact individual behavior such that the health status influences the relative composition of the consumption basket over different categories of goods and services. Results from the empirical framework support this concept and show robust findings for changes in consumption in non durable and semi durable goods which can be linked to the individual health status measured in terms of functional problems to activities of daily living.
Author: Kinga Posadzy
Publisher: Linköping University Electronic Press
ISBN: 9176854213
Category :
Languages : en
Pages : 16
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The objective of this thesis is to improve the understanding of human behavior that goes beyond monetary rewards. In particular, it investigates social influences in individual’s decision making in situations that involve coordination, competition, and deciding for others. Further, it compares how monetary and social outcomes are perceived. The common theme of all studies is uncertainty. The first four essays study individual decisions that have uncertain consequences, be it due to the actions of others or chance. The last essay, in turn, uses the advances in research on decision making under uncertainty to predict behavior in riskless choices. The first essay, Fairness Versus Efficiency: How Procedural Fairness Concerns Affect Coordination, investigates whether preferences for fair rules undermine the efficiency of coordination mechanisms that put some individuals at a disadvantage. The results from a laboratory experiment show that the existence of coordination mechanisms, such as action recommendations, increases efficiency, even if one party is strongly disadvantaged by the mechanism. Further, it is demonstrated that while individuals’ behavior does not depend on the fairness of the coordination mechanism, their beliefs about people’s behavior do. The second essay, Dishonesty and Competition. Evidence from a stiff competition environment, explores whether and how the possibility to behave dishonestly affects the willingness to compete and who the winner is in a competition between similarly skilled individuals. We do not find differences in competition entry between competitions in which dishonesty is possible and in which it is not. However, we find that due to the heterogeneity in propensity to behave dishonestly, around 20% of winners are not the best-performing individuals. This implies that the efficient allocation of resources cannot be ensured in a stiff competition in which behavior is unmonitored. The third essay, Tracing Risky Decision Making for Oneself and Others: The Role of Intuition and Deliberation, explores how individuals make choices under risk for themselves and on behalf of other people. The findings demonstrate that while there are no differences in preferences for taking risks when deciding for oneself and for others, individuals have greater decision error when choosing for other individuals. The differences in the decision error can be partly attributed to the differences in information processing; individuals employ more deliberative cognitive processing when deciding for themselves than when deciding for others. Conducting more information processing when deciding for others is related to the reduction in decision error. The fourth essay, The Effect of Decision Fatigue on Surgeons’ Clinical Decision Making, investigates how mental depletion, caused by a long session of decision making, affects surgeon’s decision to operate. Exploiting a natural experiment, we find that surgeons are less likely to schedule an operation for patients who have appointment late during the work shift than for patients who have appointment at the beginning of the work shift. Understanding how the quality of medical decisions depends on when the patient is seen is important for achieving both efficiency and fairness in health care, where long shifts are popular. The fifth essay, Preferences for Outcome Editing in Monetary and Social Contexts, compares whether individuals use the same rules for mental representation of monetary outcomes (e.g., purchases, expenses) as for social outcomes (e.g., having nice time with friends). Outcome editing is an operation in mental accounting that determines whether individuals prefer to first combine multiple outcomes before their evaluation (integration) or evaluate each outcome separately (segregation). I find that the majority of individuals express different preferences for outcome editing in the monetary context than in the social context. Further, while the results on the editing of monetary outcomes are consistent with theoretical predictions, no existing model can explain the editing of social outcomes.
Author: Uri Gneezy
Publisher:
ISBN: 9789056680282
Category : Economics
Languages : en
Pages : 128
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Author:
Publisher:
ISBN: 9788793195431
Category :
Languages : en
Pages :
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