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Prizes Versus Wages with Envy and Pride
Dubey, Pradeep K. - 2011
We show that if agents are risk neutral, prizes outperform wages if and only if there is sufficient pride and envy relative to the noisiness of performance. If agents are risk averse, prizes are a necessary supplement to wages (as bonuses)
Persistent link: https://www.econbiz.de/10013118185
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The Persistent Power of Promises
Ederer, Florian - 2018
This paper investigates how the passage of time affects trust, trustworthiness, and cooperation. We use a hybrid lab and online experiment to provide the first evidence for the persistent power of communication. Even when 3 weeks pass between messages and actual choices, communication raises...
Persistent link: https://www.econbiz.de/10012920309
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Optimally Empty Promises and Endogenous Supervision
Miller, David A.; Rozen, Kareen - 2012
We study optimal contracting in team settings, featuring stylized aspects of production environments with complex tasks. Agents have many opportunities to shirk, task-level monitoring is needed to provide useful incentives, and because it is difficult to write individual performance into formal...
Persistent link: https://www.econbiz.de/10014177009
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What Do Longitudinal Data on Millions of Hospital Visits Tell Us About the Value of Public Health Insurance as a Safety Net for the Young and Privately Insured?
Kowalski, Amanda - 2015
Young people with private health insurance sometimes transition to the public health insurance safety net after they get sick, but popular sources of cross-sectional data obscure how frequently these transitions occur. We use longitudinal data on almost all hospital visits in New York from 1995...
Persistent link: https://www.econbiz.de/10013029463
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Connected Substitutes and Invertibility of Demand
Berry, Steven - 2011
We consider the invertibility of a nonparametric nonseparable demand system. Invertibility of demand is important in several contexts, including identification of demand, estimation of demand, testing of revealed preference, and economic theory requiring uniqueness of market clearing prices. We...
Persistent link: https://www.econbiz.de/10013123196
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Connected Substitutes and Invertibility of Demand
Berry, Steven - 2012
We consider the invertibility (injectivity) of a nonparametric nonseparable demand system. Invertibility of demand is important in several contexts, including identification of demand, estimation of demand, testing of revealed preference, and economic theory exploiting existence of an inverse...
Persistent link: https://www.econbiz.de/10013103666
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Biology and the Arguments of Utility
Rayo, Luis - 2013
Why did evolution not give us a utility function that is offspring alone? Why do we care intrinsically about other outcomes, such as food, and what determines the intensity of such preferences? A common view is that such other outcomes enhance fitness and the intensity of our preference for a...
Persistent link: https://www.econbiz.de/10013082930
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Bounded Rationality and Limited Datasets
de Clippel, Geoffroy - 2014
testing choice theories with limited data …
Persistent link: https://www.econbiz.de/10013066473
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Intuitive Beliefs
Noor, Jawwad - 2020
Beliefs are intuitive if they rely on associative memory, which can be described as a network of associations between events. A belief-theoretic characterization of the model is provided, its uniqueness properties are established, and the intersection with the Bayesian model is characterized....
Persistent link: https://www.econbiz.de/10012845406
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Affective Decision-Making : A Theory of Optimism-Bias
Bracha, Anat; Brown, Donald - 2010
Optimism-bias is inconsistent with the independence of decision weights and payoffs found in models of choice under … optimistically biased, we propose an alternative model of risky choice, affective decision-making, where decision weights - which we … label affective or perceived risk - are endogenized. Affective decision making (ADM) is a strategic model of choice under …
Persistent link: https://www.econbiz.de/10014196549