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Decision Theory and Human Behavior
Gintis, Herbert - Princeton University Press
Game theory is central to understanding human behavior and relevant to all of the behavioral sciences—from biology and economics, to anthropology and political science. However, as The Bounds of Reason demonstrates, game theory alone cannot fully explain human behavior and should instead...
Persistent link: https://www.econbiz.de/10011097649
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The Bounds of Reason: Game Theory and the Unification of the Behavioral Sciences
Gintis, Herbert - Princeton University Press
Game theory is central to understanding human behavior and relevant to all of the behavioral sciences—from biology and economics, to anthropology and political science. However, as The Bounds of Reason demonstrates, game theory alone cannot fully explain human behavior and should instead...
Persistent link: https://www.econbiz.de/10011097660
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The Evolution of Inequality, Heterogeneity and Uncertainty in Labor Earnings in the U.S. Economy
Cunha, Flavio; Heckman, James J. - Institute for the Study of Labor (IZA) - 2007
it is due to greater uncertainty faced by agents. Applying the methodology of Cunha, Heckman, and Navarro (2005) to data … predictable and unpredictable components of earnings have increased in recent years. The increase in uncertainty is substantially … greater for unskilled workers. For less skilled workers, roughly 60% of the increase in wage variability is due to uncertainty …
Persistent link: https://www.econbiz.de/10005761726
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Separating Uncertainty from Heterogeneity in Life Cycle Earnings
Cunha, Flavio; Heckman, James; Navarro, Salvador - Institute for the Study of Labor (IZA) - 2004
This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10005822068
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A New Framework for the Analysis of Inequality
Cunha, Flavio; Heckman, James - Institute for the Study of Labor (IZA) - 2007
earnings variability are due to uncertainty and which components are due to components of human diversity that are forecastable …
Persistent link: https://www.econbiz.de/10005822493