This paper describes social responsibility in regional studies as a base of scientific and practical position has an interdisciplinary character and is a key in economic theory topic, referred to as «behavioral economics». The strategic aspect of social behavior should eventually become a...

This paper describes social responsibility in regional studies as a base of scientific and practical position has an interdisciplinary character and is a key in economic theory topic, referred to as «behavioral economics». The strategic aspect of social behavior should eventually become a...

We propose a rule of decision-making, the sequential procedure guided by routes, and show that three influential boundedly rational choice models can be equivalently understood as special cases of this rule. In addition, the sequential procedure guided by routes is instrumental in showing that...

We contend that consumption of a given status conveying good frequently follows a Kuznets-like curve. Concretely, the consumption of a given status marker first increases with the level of income per capita, reaches a maximum and then decreases at higher levels of income. Moreover, globalization...

Many scholars argue that environmental issues can be addressed through technological innovation, a proposal which echoes a lasting debate between environmental and ecological economics about the substitution rate between natural and manufactured capital. In addition to these two established...

We examine whether, and how, listing strategies impact sale prices in residential home sales. Literatures in housing economics, negotiations, and auctions offer diverse predictions around this question. On the one hand, housing studies typically treat home prices as an objective function of...

We study how taxes and subsidies affect portfolio choices in a laboratory experiment. We find highly significant differences after intervention, even though the net income is identical in all our treatments and thus the decision pattern of investors should be constant. In particular, we observe...

We examine Australian horseracing bookmakers’ responses to late scratches, instances in which a horse is abruptly withdrawn after betting has commenced. Our observed bookies exhibit anchoring on the original odds and fail to re-adjust odds fully on the remaining horses after a scratch, thereby...

We present a critique of Behavioral Economics, the dominant approach to reforming the regulation of retail credit, and propose a new approach to managing uncertainty in consumer lending. This new approach draws on a different model of decision-making, Distributed Cognition, to improve contract...

We study reputation games where a long-lived player with a possible commitment faces a sequence of short-lived players who must pay to observe the long-lived player's past behavior. In this costly information model we show that equilibrium behavior is cyclical. The long-lived player builds her...