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Superiority-Seeking and the Preference for Exclusion
Imas, Alex; Madarász, Kristóf - National Bureau of Economic Research - 2022
We propose that a person's desire to consume an object or possess an attribute increases in how much others want but cannot have it. We term this motive superiority-seeking, and show that it generates preferences for exclusion that help explain a host of market anomalies and make novel...
Persistent link: https://www.econbiz.de/10013361988
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Understanding Expert Choices Using Decision Time
Card, David E.; Della Vigna, Stefano; Jiang, Chenxi; … - National Bureau of Economic Research - 2024
Laboratory experiments find a robust relationship between decision times and perceived values of alternatives. This … paper investigates how these findings translate to experts' decision making and information acquisition in the field. In a … be chosen later than earlier; (ii) decision time is higher when the likelihood of choosing each alternative is closer to …
Persistent link: https://www.econbiz.de/10014544793
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Quantifying Lottery Choice Complexity
Enke, Benjamin; Shubatt, Cassidy - National Bureau of Economic Research - 2023
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...
Persistent link: https://www.econbiz.de/10014372434
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Risk Preferences Are Not Time Preferences : Discounted Expected Utility with a Disproportionate Preference for Certainty
Andreoni, James - 2010
Risk and time are intertwined. The present is known while the future is inherently risky. Discounted expected utility … robust violations of discounted expected utility, inconsistent with both prospect theory probability weighting and models …
Persistent link: https://www.econbiz.de/10012462308
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Nonparametric Identification and Estimation in a Generalized Roy Model
Bayer, Patrick - 2008
-pecuniary component of utility associated with each choice alternative. Previous work has found that, without parametric restrictions or …-pecuniary component of utility associated with each choice alternative. We develop nonparametric estimators corresponding to two …
Persistent link: https://www.econbiz.de/10012464700
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The Market for Conservation and Other Hostages
Harstad, Bård - 2011
A conservation good, such as the rainforest, is a hostage: it is possessed by S who may prefer to consume it, but B receives a larger value from continued conservation. A range of prices would make trade mutually beneficial. So, why doesn't B purchase conservation, or the forest, from S?
Persistent link: https://www.econbiz.de/10012461249
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Preference Parameters and Behavioral Heterogeneity : An Experimental Approach in the Health and Retirement Survey
Barsky, Robert B. - 1995
Individuals' preferences underlying most economic behavior are likely to display substantial heterogeneity. This paper reports on direct measures of preference parameters relating to risk tolerance, time preference, and intertemporal substitution. These experimental measures are based on survey...
Persistent link: https://www.econbiz.de/10012473664
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Preferences and Heterogeneous Treatment Effects in a Public School Choice Lottery
Hastings, Justine S. - 2006
children of parents who forfeit the most in terms of utility gains from proximity and racial match to choose a school with …
Persistent link: https://www.econbiz.de/10012466510
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From Forced Busing to Free Choice in Public Schools : Quasi-Experimental Evidence of Individual and General Effects
Lavy, Victor - 2006
In 1994 the city of Tel Aviv replaced its existing school integration program based on inter-district busing, with a new program that allowed students to choose freely between schools in and out of district. This paper explores the impact of this program on high school outcomes while...
Persistent link: https://www.econbiz.de/10012466702
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Changing the Boston School Choice Mechanism
Abdulkadiroglu, Atila - 2006
based on fairness, and was a critical argument in Boston's decision to change the mechanism. We then discuss the …
Persistent link: https://www.econbiz.de/10012466706