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Rationality and choices in economics: behavioral and evolutionary approaches
Graziano, Mario; Schilirò, Daniele - Volkswirtschaftliche Fakultät, … - 2012
The paper critically discusses the issue of rationality and choices in economics in both the behavioural and … the analysis of economic choices, showing the limits of rationality. On the other hand, the work offers a reinterpretation … of the theory of Alfred Marshall in a biologicalevolutionary perspective. The reinterpretation of Marshall's theory in a …
Persistent link: https://www.econbiz.de/10009418485
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Behavioral industrial organization, firm strategy, and consumer economics
Azar, Ofer H. - Volkswirtschaftliche Fakultät, … - 2006
The field of behavioral economics is one of the fastest-growing fields in economics in recent years. Not long ago this was a small field, but over the last decade or so, the field gained more recognition, and today it seems clear that psychological motivations and biases affect economic behavior...
Persistent link: https://www.econbiz.de/10005836571
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Consumers’ versatile buying behavior irrespective to high and low involvement products
Hasan, Syed Akif; Subhani, Muhammad Imtiaz; Osman, Ms. Amber - Volkswirtschaftliche Fakultät, … - 2012
The consumers of today are impulse and cautious buyers at the same time. This study basically comprehends the concept of non-linearity towards the consumer purchase behavior for either high or low involvement of products. The research was interesting to note the consumption patterns of different...
Persistent link: https://www.econbiz.de/10011258996
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Do consumers make too much effort to save on cheap items and too little to save on expensive items? experimental results and implications for business strategy
Azar, Ofer H. - Volkswirtschaftliche Fakultät, … - 2009
that subjects think about both the relative and the absolute price differences, even though according to economic theory …
Persistent link: https://www.econbiz.de/10008583579
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Positive self-image in tournaments
Santos-Pinto, Luís - Volkswirtschaftliche Fakultät, … - 2003
self-image than if workers do not. By contrast, workers’ welfare declines due to their own misguided choices. …
Persistent link: https://www.econbiz.de/10005835656
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When Can Politicians Scare Citizens Into Supporting Bad Policies? A Theory of Incentives with Fear-Based Content
Lupia, Arthur; Menning, Jesse - Volkswirtschaftliche Fakultät, … - 2005
Analysts make competing claims about when and how politicians can use fear to gain support for suboptimal policies. Using a model, we clarify how common attributes of fear affect politicians’ abilities to achieve self-serving outcomes that are bad for voters. In it, a politician provides...
Persistent link: https://www.econbiz.de/10005836312
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Are Income and Consumption Taxes Ever Really Equivalent? Evidence from a Real-Effort Experiment with Real Goods
Blumkin, Tomer; Ruffle, Bradley J.; Ganun, Yosef - Volkswirtschaftliche Fakultät, … - 2007
construct an environment in which individuals make real labor-leisure choices and spend their earned income on real goods. We … labor-leisure allocation. Despite controlling for subjects' work ability and inherent labor-leisure preferences and not …
Persistent link: https://www.econbiz.de/10005836471
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Return-of-Premium Endorsements for Living-Benefits Insurance Policies: Rational or Irrational?
Strauss, Jason - Volkswirtschaftliche Fakultät, … - 2007
Insurance companies selling Critical Illness, Disability, and Long-Term Care insurance policies typically offer consumers the option to purchase an endorsement that returns the nominal value of all premiums paid (over the life of the policy) if the policy is not used during the policy term. The...
Persistent link: https://www.econbiz.de/10005837503
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Positive self-image and incentives in organizations
Santos-Pinto, Luís - Volkswirtschaftliche Fakultät, … - 2003
This paper investigates the implications of individuals’ mistaken beliefs of their abilities on incentives in organizations using the principal-agent model of moral hazard. The paper shows that if effort is observable, then an agent’s mistaken beliefs about own ability are always favorable...
Persistent link: https://www.econbiz.de/10005837521
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El proceso de toma de decisiones: un modelo de economía conductual
Rueda, Acevedo; Alexis, Rafael - Volkswirtschaftliche Fakultät, … - 2013
This paper is a contribution to the study of behavioral economics. It proposes a model of decision making process and includes the affective and cognitive systems, both them included when anyone evaluates the options to select one. First of all, a literature review was done. Secondly, an...
Persistent link: https://www.econbiz.de/10011258312