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What's Psychology Worth? A Field Experiment in the Consumer Credit Market
Bertrand, Marianne - 2005
Numerous laboratory studies find that minor nuances of presentation and description change behavior in ways that are inconsistent with standard economic models. How much do these context effect matter in natural settings, when consumers make large, real decisions and have the opportunity to...
Persistent link: https://www.econbiz.de/10012466779
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Happiness, Behavioral Economics, and Public Policy
Levinson, Arik - 2013
The economics of "happiness" shares a feature with behavioral economics that raises questions about its usefulness in public policy analysis. What happiness economists call "habituation" refers to the fact that people's reported well-being reverts to a base level, even after major life events...
Persistent link: https://www.econbiz.de/10012459332
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Non est Disputandum de Generalizability? A Glimpse into The External Validity Trial
List, John A. - 2020
While empirical economics has made important strides over the past half century, there is a recent attack that threatens the foundations of the empirical approach in economics: external validity. Certain dogmatic arguments are not new, yet in some circles the generalizability question is beyond...
Persistent link: https://www.econbiz.de/10012481390
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Risky Behavior Among Youths : An Economic Analysis
Gruber, Jonathan - 2000
There are a host of potentially risky behaviors in which youth engage, which have important implications for both their well being as youth and their life prospects. The past decade has seen dramatic shifts in the intensity with which youths pursue these risky activities: for example, youth...
Persistent link: https://www.econbiz.de/10012470969
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Self-Confidence and Social Interactions
Benabou, Roland - 2000
This paper studies the interactions between an individual's self esteem and his social environment in the workplace, at school, and in personal relationships. Because a person generally has only imperfect knowledge of his own abilities, people who derive benefits from his performance (parent,...
Persistent link: https://www.econbiz.de/10012471184
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Economic Analysis of Social Interactions
Manski, Charles F. - 2000
rigor of modern economic analysis. Major theoretical developments in game theory, the economics of the family, and … endogenous growth theory have taken place. Economists have also performed new empirical research on social interactions, but the … empirical literature does not show progress comparable to that achieved in economic theory. This paper examines why and …
Persistent link: https://www.econbiz.de/10012471189
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Modeling Individuals' Behavior : Evaluation of a Policymaker's Tool
Gustman, Alan L. - 1983
With a continuous decline in the cost of manipulating data and a continuous increase in the richness of data banks, policymakers have increasing opportunities to build and apply so-called micro-simulation models--modelsthat attempt to simulate the behavior of the individuals in a large...
Persistent link: https://www.econbiz.de/10012477876
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Expectations, Life Expectancy, and Economic Behavior
Hamermesh, Daniel S. - 1982
Unlike price expectations, which are central to macroeconomic theory and have been examined extensively using survey … data, formation of individuals' horizons, which are central to the theory of life-cycle behavior, have been completely …
Persistent link: https://www.econbiz.de/10012478276
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Martingale-Like Behavior of Prices
Sims, Christopher A. - 1980
Asset prices set in a competitive market need not be martingales; that is, it need not be true that the best predictor of future prices is the current price. Nonetheless, statistical tests for this property are sometimes treated as tests for the proper functioning of an asset market; asset...
Persistent link: https://www.econbiz.de/10012478647
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Noisy Memory and Over-Reaction to News
da Silveira, Rava Azeredo - 2019
complexity of memory measured using Shannon's mutual information, as in models of rational inattention; but our theory differs …
Persistent link: https://www.econbiz.de/10012479434