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A multiplicity of approaches to institutional analysis : applications to the government and the arts
Frey, Bruno S. - 2009
Four types of economics" relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...
Persistent link: https://www.econbiz.de/10010265966
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Characteristics of Terrorism
Pittel, Karen; Rübbelke, Dirk - 2009
just obeying and, hence, to be irrational. In this paper we offer a different approach which postulates rationality of all …
Persistent link: https://www.econbiz.de/10011753167
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Decision Processes of a Suicide Bomber – Integrating Economics and Psychology
Pittel, Karen; Rübbelke, Dirk T. G. - 2009
This paper provides a theoretical analysis regarding the rationality of suicide attacks from an economist’s point of … psychological concepts of cognitive dissonance and terror management theory into our economic analysis, we demonstrate why … – although predicted by standard economic theory – defection is a phenomenon rarely observed. We finally present some policy …
Persistent link: https://www.econbiz.de/10011753170
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Heterogeneous Agent Models in Economics and Finance
Hommes, Cars H. - 2005
This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...
Persistent link: https://www.econbiz.de/10010325401
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A model of overconfidence
Weinberg, Bruce A. - 2009
People use information about their ability to choose tasks. If more challenging tasks provide more accurate information about ability, people who care about and who are risk averse over their perception of their own ability will choose tasks that are not sufficiently challenging. Overestimation...
Persistent link: https://www.econbiz.de/10010269111
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Extrinsic rewards and intrinsic motives: Standard and behavioral approaches to agency and labor markets
Rebitzer, James B.; Taylor, Lowell J. - 2010
Employers structure pay and employment relationships to mitigate agency problems. A large literature in economics documents how the resolution of these problems shapes personnel policies and labor markets. For the most part, the study of agency in employment relationships relies on highly...
Persistent link: https://www.econbiz.de/10010272684
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Relative consumption concerns or non-monotonic preferences?
Hillesheim, Inga; Mechtel, Mario - 2012
We conduct a classroom survey to investigate the willingness to sacrifice consumption in absolute terms in order to ascend above others in terms of consumption levels. In contrast to other studies using survey methodologies, participants are divided into a treatment and a control group. This...
Persistent link: https://www.econbiz.de/10010319758
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Integrating personality psychology into economics
Heckman, James J. - 2011
This paper reviews the problems and potential benefits of integrating personality psychology into economics. Economists have much to learn from and contribute to personality psychology.
Persistent link: https://www.econbiz.de/10010280682
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Extrinsic rewards and intrinsic motives: Standard and behavioral approaches to agency and labor markets
Rebitzer, James B.; Taylor, Lowell J. - 2010
Employers structure pay and employment relationships to mitigate agency problems. A large literature in economics documents how the resolution of these problems shapes personnel policies and labor markets. For the most part, the study of agency in employment relationships relies on highly...
Persistent link: https://www.econbiz.de/10010286501
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Economic behavior: Evolutionary vs. behavioral perspectives
Witt, Ulrich - 2010
heuristics and their tensions with modern rationality standards. In an evolutionary perspective, that focus needs to be extended …
Persistent link: https://www.econbiz.de/10010286736