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A unified parameterization of an expected utility model corrected for regret and disappointment effects is presented, constrained to conform to a well-known choice pattern, the common consequence effect, a special case of the Allais paradox. For choices subject to regret and disappointment...
Persistent link: https://www.econbiz.de/10012756403
The Pampas of Argentina have shown some of the most consistently increasing trends in precipitation during the 20th century. The rainfall increase has partly contributed to a significant expansion of agricultural area, particularly in climatically marginal regions of the Pampas. However, it is...
Persistent link: https://www.econbiz.de/10014176073
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We analyzed the effects of 10,748 weather events on attention to climate change between December 2011 and November 2014 in local areas across the United States. Attention was gauged by quantifying the relative increase in Twitter messages about climate change in the local area around the time of...
Persistent link: https://www.econbiz.de/10011547497
In spite of large number of financial crises, often depicted as episodes of financial panic, the notion of panic in financial markets is not very well understood. Many have argued that in order to understand financial crises, and in particular panic events, we need to go beyond classic economic...
Persistent link: https://www.econbiz.de/10009671441
Social tipping can accelerate beneficial changes in behaviour in diverse domains from equality and social justice to climate change. Hypothetically, however, group identities might undermine tipping in ways policy makers do not anticipate. To examine this, we implemented an experiment around the...
Persistent link: https://www.econbiz.de/10013187553
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The well-known Ising model used in statistical physics was adapted to a social dynamics context to simulate the adoption of a technological innovation. The model explicitly combines (a) an individual's perception of the advantages of an innovation and (b) social influence from members of the...
Persistent link: https://www.econbiz.de/10008727998
Every attribute can be expressed in multiple ways. For example, car fuel economy can be expressed as fuel efficiency (“miles per gallon”), fuel cost in dollars, or tons of greenhouse gases emitted. Each expression, or “translation”, highlights a different aspect of the same attribute. We...
Persistent link: https://www.econbiz.de/10012962556