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Tastes, castes, and culture: The influence of society on preferences

Fehr, Ernst; Hoff, Karla - 2011

Economists have traditionally treated preferences as exogenously given. Preferences are assumed to be influenced by neither beliefs nor the constraints people face. As a consequence, changes in behaviour are explained exclusively in terms of changes in the set of feasible alternatives. Here we...

Persistent link: https://www.econbiz.de/10010316875

Large effects of small cues: Priming selfish economic decisions

Snir, Avichai; Levy, Dudi; Wang, Dian; Chen, Haipeng; … - 2024

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

Persistent link: https://www.econbiz.de/10014577216

Individual Irrationality and Aggregate Outcomes

Fehr, Ernst; Tyran, Jean-Robert - Institut für Schweizerisches Bankwesen <Zürich> - 2005

There is abundant evidence that many individuals violate the rationality assumptions routinely made in economics …. However, powerful evidence also indicates that violations of individual rationality do not necessarily refute the aggregate … predictions of standard economic models that assume full rationality of all agents. Thus, a key question is how the interactions …

Persistent link: https://www.econbiz.de/10005858769

Risk and Rationality : Uncovering Heterogeneity in Probability Distortion

Bruhin, Adrian; Fehr-Duda, Helga; Epper, Thomas - 2009

It has long been recognized that there is considerable heterogeneity in individual risk taking behavior but little is known about the distribution of risk taking types. We present a parsimonious characterization of risk taking behavior by estimating a finite mixture regression model for three...

Persistent link: https://www.econbiz.de/10014207351

A meme for money

Wray, L. Randall - 2012

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

Persistent link: https://www.econbiz.de/10010318635

Driving Forces of Informal Sanctions

Falk, Armin; Fehr, Ernst; Fischbacher, Urs - 2001

This paper examines the determinants of informal sanctions by a large number of experiments.

Persistent link: https://www.econbiz.de/10005846433

The conflictive relationship between satisfaction and income

Lora, Eduardo; Chaparro, Juan Camilo - 2008

This paper makes use of the 2006 Gallup World Survey, which includes opinions on satisfaction with various aspects of life in 130 countries. Although a very solid relationship is found between satisfaction and income (both across and within countries), raising doubts regarding the well-known...

Persistent link: https://www.econbiz.de/10010278209

A progress report on Marxian economic theory: On the controversies in exploitation theory since Okishio (1963)

Yoshihara, Naoki - 2016

This report explores the development of exploitation theory in mathematical Marxian economics by reviewing the main controversies surrounding the proper definition of exploitation since the contribution of Okishio (1963). The report first examines the debates on the Fundamental Marxian Theorem...

Persistent link: https://www.econbiz.de/10011788892

An investment initiative for fiscally constrained EU member states: The role of synergetic financial instruments

Zeilbeck, Severin - 2015

The economy of the European Union has not recovered from the impact of the economic and financial crisis. Growth rates remain low and investment activity is weak. This questions current economic policies of the Economic and Monetary Union, known as austerity. In opposition to fiscal contraction...

Persistent link: https://www.econbiz.de/10011381297

Does excessive sovereign debt really hurt growth? A critique of This time is different, by Reinhart and Rogoff

Nersisyan, Yeva; Wray, L. Randall - 2010

The worst global downturn since the Great Depression has caused ballooning budget deficits in most nations, as tax revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal policy. With notable exceptions, most economists accept the desirability of...

Persistent link: https://www.econbiz.de/10010333044

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