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Gabaix, Xavier - 2017

Inattention is a central, unifying theme for much of behavioral economics. It permeates such disparate fields as microeconomics, macroeconomics, finance, public economics, and industrial organization. It enables us to think in a rather consistent way about behavioral biases, speculate about...

Persistent link: https://www.econbiz.de/10012941474

Self-Esteem, Moral Capital, and Wrongdoing

Dal Bo, Ernesto - 2010

We present an infinite-horizon model of moral standards where self-esteem and unconscious drives play key roles. In the model, an individual receives random temptations (such as bribe offers) and must decide which to resist. Individual actions depend both on conscious intent and a type...

Persistent link: https://www.econbiz.de/10012758127

Partial Prescriptions for Decisions with Partial Knowledge

Manski, Charles F. - 2008

This paper concerns the prescriptive function of decision analysis. I suppose that an agent must choose an action yielding welfare that varies with the state of nature. The agent has a welfare function and beliefs, but he does not know the actual state of nature. It is often argued that such an...

Persistent link: https://www.econbiz.de/10012769876

Cognitive Economics

Kimball, Miles S. - 2015

Cognitive Economics is the economics of what is in people's minds. It is a vibrant area of research (much of it within Behavioral Economics, Labor Economics and the Economics of Education) that brings into play novel types of data—especially novel types of survey data. Such data highlight the...

Persistent link: https://www.econbiz.de/10013030618

Favoritism in Organizations

Prendergast, Canice - 2010

Performance evaluations for workers are typically subjective impressions held by supervisors rather than easily quantifiable measures of output. We argue that perhaps the most important aspect this is that it gives supervisors the opportunity to exercise their personal preference towards their...

Persistent link: https://www.econbiz.de/10013139327

Laws and Norms

Bénabou, Roland - 2011

This paper analyzes how private decisions and public policies are shaped by personal and societal preferences ("values … and Ramsey taxation. Incorporating agents' imperfect knowledge of the distribution of preferences opens up to analysis … of legislators and other principals naturally reflect their knowledge of societal preferences, and these same "community …

Persistent link: https://www.econbiz.de/10013118832

Revising Commitments : Field Evidence on the Adjustment of Prior Choices

Giné, Xavier - 2012

revisions of money allocations toward the present are associated with spousal preferences for such revision, household shocks or …

Persistent link: https://www.econbiz.de/10013106639

The Cost of Uncertainty About the Timing of Social Security Reform

Caliendo, Frank - 2015

We develop a model to study optimal decision making in the face of uncertainty about the timing and structure of a future event. The model is used to study optimal decision making and welfare when individuals face uncertainty about when and how Social Security will be reformed. When individuals...

Persistent link: https://www.econbiz.de/10013014666

What Comes to Mind

Gennaioli, Nicola - 2010

We present a model of judgment under uncertainty, in which an agent combines data received from the external world with information retrieved from memory to evaluate a hypothesis. We focus on what comes to mind immediately, as the agent makes quick, intuitive evaluations. Because the automatic...

Persistent link: https://www.econbiz.de/10013152441

When Consensus Choice Dominates Individualism : Jensen's Inequality and Collective Decisions Under Uncertainty

Manski, Charles F. - 2009

Research on collective provision of private goods has focused on distributional considerations. This paper studies a class of problems of decision under uncertainty in which the argument for collective choice emerges from the mathematics of aggregating individual payoffs. Consider decision...

Persistent link: https://www.econbiz.de/10013157910

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