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Incentives and the allocation of effort over time : the joint role of affective and cognitive decision making
Goette, Lorenz (contributor); Huffman, David (contributor) - 2006
We use natural experiments plausibly exogenous, anticipated increases in the piece rate to study how effort responds to incentives. Our first finding, like some previous studies, lends little support to the view that incentives increase effort: raising the piece rate has zero effect on total...
Persistent link: https://www.econbiz.de/10003489059
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Economic consequences of mispredicting utility
Frey, Bruno S.; Stutzer, Alois - 2013
In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...
Persistent link: https://www.econbiz.de/10009753717
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Prediction markets in theory and practice
Wolfers, Justin (contributor); Zitzewitz, Eric (contributor) - 2006
Prediction Markets, sometimes referred to as "information markets", "idea futures" or "event futures", are markets where participants trade contracts whose payoffs are tied to a future event, thereby yielding prices that can be interpreted as market-aggregated forecasts. This article summarizes...
Persistent link: https://www.econbiz.de/10003289880
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Produce or speculate? : asset bubbles, occupational choice and efficiency
Cahuc, Pierre; Challe, Edouard - 2009
, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …
Persistent link: https://www.econbiz.de/10003926432
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Cognitive skills explain economic preferences, strategic behavior, and job attachment
Burks, Stephen V.; Carpenter, Jeffrey P.; Götte, Lorenz; … - 2008
Economic analysis has said little about how an individual's cognitive skills (CS's) are related to the individual's preferences in different choice domains, such as risk-taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee truckers...
Persistent link: https://www.econbiz.de/10003739951
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Decision-making by children
Lundberg, Shelly (contributor); Romich, Jennifer (contributor) - 2007
In this paper, we examine the determinants of decision-making power by children and young adolescents. Moving beyond … of parental control of child behavior and child resistance. Using child reports of decision-making and psychological and … cognitive measures from the NLSY79 Child Supplement, we examine the determinants of shared and sole decision-making in seven …
Persistent link: https://www.econbiz.de/10003586550
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Toward the integration of personality theory and decision theory in the explanation of economic and health behavior
Rustichini, Aldo; DeYoung, Colin G.; Anderson, Jon; … - 2012
emphasizing variables derived from formal decision theory. In a data set on trainee truckers in a large US company, we provide a … comparing the predictive power of measurements derived from personality theory and decision theory for several individual …. Further, decision theory and personality variables are meaningfully related. For example, we confirm that cognitive ability …
Persistent link: https://www.econbiz.de/10009570095
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Choice of majors : are women really different from men?
Kugler, Adriana D.; Tinsley, Catherine H.; Ukhaneva, Olga - 2017
Recent work suggests that women are more responsive to negative feedback than men in certain environments. We examine whether negative feedback in the form of relatively low grades in major-related classes explains gender differences in the final majors undergraduates choose. We use unique...
Persistent link: https://www.econbiz.de/10011724439
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Less is not more : information presentation complexity and 401(k) planning choices
Cardella, Eric; Kalenkoski, Charlene; Parent, Michael - 2018
This paper presents the results of an experiment that is designed to examine how information presentation and complexity impact retirement-savings behavior. The experiment is performed twice, using both a Qualtrics panel of new employees and a sample of business school students. In this...
Persistent link: https://www.econbiz.de/10011865361
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Making big decisions : the impact of moves on marriage among U.S. Army personnel
Carter, Susan Payne; Wozniak, Abigail K. - 2018
-term intentions. These findings are consistent with a model where the marriage decision is costly and relocation lowers the costs to … making this decision. Our results have implications for understanding how people make major life decisions such as marriage …
Persistent link: https://www.econbiz.de/10011796205