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Economic theory predicts that increasing the severity of punishments will deter criminal behavior by raising the …
Persistent link: https://www.econbiz.de/10012467188
We report results from economic experiments of decisions that are best described as petty larceny, with high school and college students who can anonymously steal real money from each other. Our design allows exogenous variation in the rewards of crime, and the penalty and probability of...
Persistent link: https://www.econbiz.de/10012461598
incorrect) causal relationship between variables. In a controlled experiment, we show that exogenously generated causal … narratives manipulate the beliefs and actions of subjects in ways predicted by theory. We then show how to 'grow' these types of …
Persistent link: https://www.econbiz.de/10013362000
We conduct a novel lab experiment in which pairs of subjects make separable decisions about allocative efficiency and …
Persistent link: https://www.econbiz.de/10013362003
We introduce DOSE--Dynamically Optimized Sequential Experimentation--to elicit preference parameters. DOSE starts with a model of preferences and a prior over the parameters of that model, then dynamically chooses a customized question sequence for each participant according to an...
Persistent link: https://www.econbiz.de/10015094855
If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted...
Persistent link: https://www.econbiz.de/10012457194
approach contradicts traditional economic theory by suggesting that people in debt should pay off their debts from smallest …
Persistent link: https://www.econbiz.de/10012458539
Psychological insights have made inroads within most major areas of study in economics. One area where less advance has been made is environmental and resource economics. In this study, we examine the implications of preference reversals over evaluation modes, in which stated economic values...
Persistent link: https://www.econbiz.de/10012462616
behavioral economics today. This study designs a field experiment that is explicitly linked to a controlled laboratory experiment …-interest theory. In the limit, much of the observed behavior in the marketplace that is consistent with social preferences is due to …
Persistent link: https://www.econbiz.de/10012467061
-policy initiatives. The results from one such experiment are presented that suggest the economic concept of inferior goods may be …
Persistent link: https://www.econbiz.de/10012472361