Naturally Occurring Preferences And Exogenous Laboratory Experiments

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Naturally Occurring Preferences and Exogenous Laboratory Experiments

Author : Glenn W. Harrison
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Naturally Occurring Preferences and Exogenous Laboratory Experiments by : Glenn W. Harrison

Download or read book Naturally Occurring Preferences and Exogenous Laboratory Experiments written by Glenn W. Harrison and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does individual behavior in a laboratory setting provide a reliable indicator of behavior in a naturally occurring setting? We consider this general methodological question in the context of eliciting risk attitudes. The controls that are typically employed in laboratory settings, such as the use of abstract lotteries, could lead subjects to employ behavioral rules that differ from the ones they employ in the field. Since it is field behavior that we are interested in understanding, those controls might be a confound in themselves if they result in differences in behavior. We find that the use of artificial monetary prizes provides a reliable measure of risk attitudes when the natural counterpart outcome has minimal uncertainty, but that it can provide an unreliable measure when the natural counterpart outcome has background risk. These results are consistent with conventional expected utility theory for the effects of background risk on attitudes to risk. Behavior tended to be risk-loving when artificial monetary prizes were used or when there was minimal uncertainty in the natural non-monetary outcome. But subjects drawn from the same population were risk-averse when their attitudes were elicited using the natural non-monetary outcome that had some background risk. Theory predicts this effect of background risk, but not the change from risk-loving to risk-aversion.

Naturally Occurring Markets and Exogenous Laboratory Experiments

Author : Glenn W. Harrison
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Naturally Occurring Markets and Exogenous Laboratory Experiments by : Glenn W. Harrison

Download or read book Naturally Occurring Markets and Exogenous Laboratory Experiments written by Glenn W. Harrison and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports to explain. Using common value auction theory as our guide, we identify naturally occurring settings in which one can test the theory. In our treatments the subjects are not picked at random, as in lab experiments with student subjects, but are deliberately identified by their trading roles in the natural field setting. We find that experienced agents bidding in familiar roles do not fall prey to the winner's curse. Yet, when experienced agents are observed bidding in an unfamiliar role, we find that they frequently fall prey to the winner's curse. We conclude that the theory predicts field behavior well when one is able to identify naturally occurring field counterparts to the key theoretical conditions.

Handbook of Experimental Economic Methodology

Author : Guillaume R. Fréchette
Publisher :
ISBN 13 : 0195328329
Total Pages : 491 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis Handbook of Experimental Economic Methodology by : Guillaume R. Fréchette

Download or read book Handbook of Experimental Economic Methodology written by Guillaume R. Fréchette and published by . This book was released on 2015 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Experimental Economic Methodology, edited by Guillaume R. Fr chette and Andrew Schotter, aims to confront and debate the issues faced by the growing field of experimental economics. For example, as experimental work attempts to test theory, it raises questions about the proper relationship between theory and experiments. As experimental results are used to inform policy, the utility of these results outside the lab is questioned, and finally, as experimental economics tries to integrate ideas from other disciplines like psychology and neuroscience, the question of their proper place in the discipline of economics becomes less clear. This book contains papers written by some of the most accomplished scholars working at the intersection of experimental, behavioral, and theoretical economics talking about methodology. It is divided into four sections, each of which features a set of papers and a set of comments on those papers. The intention of the volume is to offer a place where ideas about methodology could be discussed and even argued. Some of the papers are contentious---a healthy sign of a dynamic discipline---while others lay out a vision for how the authors think experimental economics should be pursued. This exciting and illuminating collection of papers brings light to a topic at the core of experimental economics. Researchers from a broad range of fields will benefit from the exploration of these important questions.

Behavioral Economics

Author : Edward Cartwright
Publisher : Routledge
ISBN 13 : 1136725148
Total Pages : 489 pages
Book Rating : 4.1/5 (367 download)

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Book Synopsis Behavioral Economics by : Edward Cartwright

Download or read book Behavioral Economics written by Edward Cartwright and published by Routledge. This book was released on 2014-04-04 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook is a first major introduction to behavioral economics, designed primarily for advanced undergraduate students. Unquestionably the hottest new field to have emerged in the social sciences over the past decade, behavioral considerations are now making themselves felt across academia and beyond and books such as Richard Thaler and Cass Sunstein’s Nudge have become blueprints for a new way of thinking. This text will introduce all the key concepts to a student audience. Although grounded in game theory and experimental economics, the focus of the text is very much on Behavior as opposed to Games. The field is presented as a coherent subject and the text covers a host of cutting edge developments including the analysis of fairness, reciprocity and altruism, as well as the brave new frontier of neuroeconomics.

Risk Aversion in Experiments

Author : G.W. Harrison
Publisher : Emerald Group Publishing
ISBN 13 : 0762313846
Total Pages : 449 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis Risk Aversion in Experiments by : G.W. Harrison

Download or read book Risk Aversion in Experiments written by G.W. Harrison and published by Emerald Group Publishing. This book was released on 2008-02-29 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents research utilizing laboratory experimental methods in economics.

Handbook of Choice Modelling

Author : Stephane Hess
Publisher : Edward Elgar Publishing
ISBN 13 : 1781003157
Total Pages : 721 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2014-08-29 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d

Field Experiments

Author : John A. List
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781952245
Total Pages : 0 pages
Book Rating : 4.9/5 (522 download)

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Book Synopsis Field Experiments by : John A. List

Download or read book Field Experiments written by John A. List and published by Edward Elgar Publishing. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research review discusses the most critical and influential articles that utilise field experimentation to answer questions of economic importance. Field experiments have gained popularity in recent years, allowing researchers to infer causal effects of different market environments, policies and interventions. The articles analysed here provide insights into market functioning and individual and group decision-making across a wide range of domains, including marketplace transactions, labor decisions, charitable giving, financial planning, and education and health-related decision-making. This research review will be an important resource for students new to the methodology and applications of field experiments and academics alike.

Handbook of Behavioral Economics - Foundations and Applications 1

Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 749 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 1 by :

Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics

The Handbook of Experimental Economics, Volume 2

Author : John H. Kagel
Publisher : Princeton University Press
ISBN 13 : 0691139997
Total Pages : 770 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Handbook of Experimental Economics, Volume 2 by : John H. Kagel

Download or read book The Handbook of Experimental Economics, Volume 2 written by John H. Kagel and published by Princeton University Press. This book was released on 2016-10-04 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable survey of new developments and results in experimental economics When The Handbook of Experimental Economics first came out in 1995, the notion of economists conducting lab experiments to generate data was relatively new. Since then, the field has exploded. This second volume of the Handbook covers some of the most exciting new growth areas in experimental economics, presents the latest results and experimental methods, and identifies promising new directions for future research. Featuring contributions by leading practitioners, the Handbook describes experiments in macroeconomics, charitable giving, neuroeconomics, other-regarding preferences, market design, political economy, subject population effects, gender effects, auctions, and learning and the economics of small decisions. Contributors focus on key developments and report on experiments, highlighting the dialogue between experimenters and theorists. While most of the experiments consist of laboratory studies, the book also includes several chapters that report extensively on field experiments related to the subject area studied. Covers exciting new growth areas in experimental economics Features contributions by leading experts Describes experiments in macroeconomics, charitable giving, neuroeconomics, market design, political economy, gender effects, auctions, and more Highlights the dialogue by experimenters with theorists and each other Includes several chapters covering field experiments related to the subject area studied

The Routledge Handbook of Agricultural Economics

Author : Gail L. Cramer
Publisher : Routledge
ISBN 13 : 1317225767
Total Pages : 806 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Routledge Handbook of Agricultural Economics by : Gail L. Cramer

Download or read book The Routledge Handbook of Agricultural Economics written by Gail L. Cramer and published by Routledge. This book was released on 2018-07-17 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook offers an up-to-date collection of research on agricultural economics. Drawing together scholarship from experts at the top of their profession and from around the world, this collection provides new insights into the area of agricultural economics. The Routledge Handbook of Agricultural Economics explores a broad variety of topics including welfare economics, econometrics, agribusiness, and consumer economics. This wide range reflects the way in which agricultural economics encompasses a large sector of any economy, and the chapters present both an introduction to the subjects as well as the methodology, statistical background, and operations research techniques needed to solve practical economic problems. In addition, food economics is given a special focus in the Handbook due to the recent emphasis on health and feeding the world population a quality diet. Furthermore, through examining these diverse topics, the authors seek to provide some indication of the direction of research in these areas and where future research endeavors may be productive. Acting as a comprehensive, up-to-date, and definitive work of reference, this Handbook will be of use to researchers, faculty, and graduate students looking to deepen their understanding of agricultural economics, agribusiness, and applied economics, and the interrelationship of those areas.

The Neurobiology of Trust

Author : Frank Krueger
Publisher : Cambridge University Press
ISBN 13 : 1108805973
Total Pages : 513 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis The Neurobiology of Trust by : Frank Krueger

Download or read book The Neurobiology of Trust written by Frank Krueger and published by Cambridge University Press. This book was released on 2021-12-16 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trust is essential for establishing and maintaining cooperative behaviors between individuals and institutions in a wide variety of social, economic, and political contexts. This book explores trust through the lens of neurobiology, focusing on empirical, methodological, and theoretical aspects. Written by a distinguished group of researchers from economics, psychology, human factors, neuroscience, and psychiatry, the chapters shed light on the neurobiological underpinnings of trust as applied in a variety of domains. Researchers and students will discover a refined understanding of trust by delving into the essential topics in this area of study outlined by leading experts.

When to Use What Research Design

Author : W. Paul Vogt
Publisher : Guilford Press
ISBN 13 : 1462503535
Total Pages : 402 pages
Book Rating : 4.4/5 (625 download)

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Book Synopsis When to Use What Research Design by : W. Paul Vogt

Download or read book When to Use What Research Design written by W. Paul Vogt and published by Guilford Press. This book was released on 2012-02-21 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Systematic, practical, and accessible, this is the first book to focus on finding the most defensible design for a particular research question. Thoughtful guidelines are provided for weighing the advantages and disadvantages of various methods, including qualitative, quantitative, and mixed methods designs. The book can be read sequentially or readers can dip into chapters on specific stages of research (basic design choices, selecting and sampling participants, addressing ethical issues) or data collection methods (surveys, interviews, experiments, observations, archival studies, and combined methods). Many chapter headings and subheadings are written as questions, helping readers quickly find the answers they need to make informed choices that will affect the later analysis and interpretation of their data. ? Useful features include: *Easy-to-navigate part and chapter structure. *Engaging research examples from a variety of fields. *End-of-chapter tables that summarize the main points covered. *Detailed suggestions for further reading at the end of each chapter. ?*Integration of data collection, sampling, and research ethics in one volume. *Comprehensive glossary. ?

Individuele en Sociale Beslissingen Bij Onzekerheid

Author : Stefan Tobias Trautmann
Publisher : Rozenberg Publishers
ISBN 13 : 9036100917
Total Pages : 199 pages
Book Rating : 4.0/5 (361 download)

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Book Synopsis Individuele en Sociale Beslissingen Bij Onzekerheid by : Stefan Tobias Trautmann

Download or read book Individuele en Sociale Beslissingen Bij Onzekerheid written by Stefan Tobias Trautmann and published by Rozenberg Publishers. This book was released on 2008 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: In most decisions we have to choose between options that involve some uncertainty about their outcomes and their effect on our well-being. Casual observation and carefully controlled studies suggest that, in making these decisions, we often deviate from the benchmark of expected income maximization. This should not come as a surprise. Our well-being is affected by many factors, and the outside observer does not know the importance of various dimensions of the outcome to the decision maker. Even if goals are well defined, it is far from obvious that we succeed in choosing what is best for us. The psychological literature has shown deviations from optimal behavior in simple decision tasks, and we may expect similar deviations to occur in more complex real life problems. In real life situations, however, experience and market interaction will help to restrain suboptimal behavior. This thesis examines deviations from expected income maximization in situations involving uncertainty. We focus on deviations generated by social factors.

Routledge Handbook of Bounded Rationality

Author : Riccardo Viale
Publisher : Routledge
ISBN 13 : 1317330803
Total Pages : 681 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis Routledge Handbook of Bounded Rationality by : Riccardo Viale

Download or read book Routledge Handbook of Bounded Rationality written by Riccardo Viale and published by Routledge. This book was released on 2020-12-02 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.

Trust, Organizations and the Digital Economy

Author : Joanna Paliszkiewicz
Publisher : Routledge
ISBN 13 : 1000455416
Total Pages : 304 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Trust, Organizations and the Digital Economy by : Joanna Paliszkiewicz

Download or read book Trust, Organizations and the Digital Economy written by Joanna Paliszkiewicz and published by Routledge. This book was released on 2021-09-28 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trust is a pervasive catalyst of human and business relationships that has inspired interest in researchers and practitioners alike. It has been shown to enhance engagement, communication, organizational performance, and online activities. Despite its role to cultivate cooperation, knowledge-sharing, and innovation, trust through digital means or even trust in digital media has presented new opportunities and challenges in society. Examples include a wider and faster dissemination of trust-influencing messages, and richer options of digital cues that engage, disrupt, or even transform how trust is formulated. Despite that, trust helps people to live through risky and uncertain situations, and the many capabilities enabled on the digital platforms have made the formation and sustaining of trust very different compared to traditional means. Trust in today’s digital environment plays an important role and is intertwined with concepts including reliability, quality, and privacy. This book aims to bring together the theory and practice of trust in the new digital era and will present theoretical and practical foundations. Trust is not given; we must work to build it, but it is a very fragile and intangible asset once built. It is easy to destroy and challenging to rebuild. Researchers, academics, and students in the fields of management, responsibility, and business ethics will gain knowledge on trust and related concepts, learn about the theoretical underpinnings of trust and how it sustains itself through digital dissemination, and explore empirically validated practice regarding trust and its related concepts.

Handbook of Policy Formulation

Author : Michael Howlett
Publisher : Edward Elgar Publishing
ISBN 13 : 1784719323
Total Pages : 583 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Handbook of Policy Formulation by : Michael Howlett

Download or read book Handbook of Policy Formulation written by Michael Howlett and published by Edward Elgar Publishing. This book was released on 2017-04-28 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy formulation relies upon the interplay of knowledge-based analysis of issues with power-based considerations, such as the political assessment of the costs and benefits of proposed actions, and its effects on the partisan and electoral concerns of governments. Policy scholars have long been interested in how governments successfully create, deploy and utilise policy instruments, but the literature on policy formulation has, until now, remained fragmented. This comprehensive Handbook unites original scholarship on policy tools and design, with contributions examining policy actors and the roles they play in the formulation process.

Economics of Betting Markets

Author : David Peel
Publisher : Routledge
ISBN 13 : 1317988221
Total Pages : 261 pages
Book Rating : 4.3/5 (179 download)

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Book Synopsis Economics of Betting Markets by : David Peel

Download or read book Economics of Betting Markets written by David Peel and published by Routledge. This book was released on 2013-09-13 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last few decades, commercial gambling has increased substantially throughout the Western world. More people than ever before have access to sources of legalised gambling, leading to bumper revenues for the institutions involved. Naturally enough, this has led to an increased interest in the area of the economics of betting. This book addresses the issues raised by the continued growth of the gambling sector. How can we model the behaviour of people who seemingly act irrationally? What are the implications of different tax policies with regard to gambling? Are casinos capable of taking money away from state-run lotteries and the causes they fund? Can bookmakers’ odds be influenced in such a way as to make the gambling market inefficient? The authors in this volume provide insights based on data from many different countries, including England, the USA, Australia, Spain and Cyprus. This volume brings together work which addresses the economic impact of the huge growth of commercial gambling in the Western world, as well as trying to model the cognitive processes which can explain why individuals are prepared to behave in such apparently irrational ways. This book was published as a special issue of Applied Economics. The academic editor of this journal is Mark P. Taylor.