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Optimism and Economic Choice
Puri, Manju - 2005
This paper presents some of the first large-scale survey evidence linking optimism to major economic choices. We create a novel measure of optimism using the Survey of Consumer Finance by comparing a person's self-reported life expectancy to that implied by statistical tables. Optimists are more...
Persistent link: https://www.econbiz.de/10012467322
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Cognitive Economics
Kimball, Miles S. - 2015
Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called "bounded rationality …
Persistent link: https://www.econbiz.de/10012457832
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Willpower and the Optimal Control of Visceral Urges
Ozdenoren, Emre - 2006
Common intuition and experimental psychology suggest that the ability to self-regulate, willpower, is a depletable …. Accounting for willpower depletion thus provides a more unified theory of time preference. It also provides an explanation for …
Persistent link: https://www.econbiz.de/10012466390
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Rational Addictive Behavior and Cigarette Smoking
Chaloupka, Frank J. - 1990
After a discussion of cigarette smoking in the context of the Becker-Murphy (1988) model of rational addictive behavior, demand equations are derived accounting for the tolerance, reinforcement, and withdrawal characteristic of addictive consumption. These are contrasted to equations developed...
Persistent link: https://www.econbiz.de/10012475769
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How Rational Is the Purchase of Life Insurance?
Auerbach, Alan J. - 1989
This paper examines whether middle age American households purchase adequate amounts of life insurance. The analysis is based on SRI International's 1980, 1982, and 1984 surveys of the financial positions of American households. Our findings indicate that a significant minority of American wives...
Persistent link: https://www.econbiz.de/10012475983
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Rational Inattention, Competitive Supply, and Psychometrics
Caplin, Andrew - 2018
role in consumer choice as do a competitive firm's costs of production in its supply decision. This analogy extends to … reward level and task complexity. Estimated attention costs are highly correlated with decision time, an important common …
Persistent link: https://www.econbiz.de/10012480875
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Inattention and Inertia in Household Finance : Evidence from the Danish Mortgage Market
Andersen, Steffen - 2015
A common problem in household finance is that households are often inactive in response to incentives. Mortgages are generally the largest household liability, and mortgage refinancing is an important channel for monetary policy transmission, so inactivity in this setting can be socially costly....
Persistent link: https://www.econbiz.de/10012457282
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We are all Behavioral, More or Less : A Taxonomy of Consumer Decision Making
Stango, Victor - 2020
We examine how 17 behavioral biases relate to each other, to other decision inputs, and to decision outputs. Most … personality traits--with some expected exceptions. Accounting for this correlation structure, we reduce our 29 decision inputs to … this taxonomy for various approaches to modeling influences of behavioral biases on decision making …
Persistent link: https://www.econbiz.de/10012482357
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Dominated Choices and Medicare Advantage Enrollment
Afendulis, Christopher - 2014
revisiting prior choices, can lead to decision errors. This paper explores the enrollment decisions of Medicare beneficiaries in …
Persistent link: https://www.econbiz.de/10012458484
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Risky Behavior Among Youths : An Economic Analysis
Gruber, Jonathan - 2000
-choice economics, developmental psychology, and behavioral economics. I then discuss both cross-sectional and time series evidence on …
Persistent link: https://www.econbiz.de/10012470969