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ERN: Behavioral Economics (Topic)最新文献

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Parental Unemployment, Social Insurance and Child Well-Being Across Countries 各国父母失业、社会保险和儿童福利
ERN: Behavioral Economics (Topic) Pub Date : 2022-12-01 DOI: 10.2139/ssrn.3704135
K. Hansen, A. Stutzer
{"title":"Parental Unemployment, Social Insurance and Child Well-Being Across Countries","authors":"K. Hansen, A. Stutzer","doi":"10.2139/ssrn.3704135","DOIUrl":"https://doi.org/10.2139/ssrn.3704135","url":null,"abstract":"Based on a unique repeated cross-sectional data set of school-aged children in Europe, the Middle East and North America, we analyze how children's subjective well-being is related to parents' employment status, depending on the institutional context. We find that parental unemployment is strongly negatively related to children's life satisfaction across countries and years. The effect is thereby moderated by the generosity of unemployment benefits. Exploiting across- and within-country variation, our results suggest that a higher benefit replacement rate alleviates the negative effects of fathers', but not mothers', unemployment. We further test the robustness of our results considering unemployment benefits jointly with social work norms. While the buffering effect of unemployment insurance remains, the spillover effects of paternal unemployment seem to be more pronounced in environments with stricter social work norms.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115235784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
An Exploratory Analysis of the Multi-Armed Bandit Problem 多武装强盗问题的探索性分析
ERN: Behavioral Economics (Topic) Pub Date : 2021-10-14 DOI: 10.2139/ssrn.3942930
Stanton Hudja, Daniel Woods
{"title":"An Exploratory Analysis of the Multi-Armed Bandit Problem","authors":"Stanton Hudja, Daniel Woods","doi":"10.2139/ssrn.3942930","DOIUrl":"https://doi.org/10.2139/ssrn.3942930","url":null,"abstract":"This paper conducts a laboratory experiment to analyze individual behavior in multi-armed bandit problems. Our experiment consists of four types of multi-armed bandit problems: (i) a two-armed indefinite horizon problem, (ii) a two-armed finite horizon problem, (iii) a three-armed indefinite horizon problem, and (iv) a three-armed finite horizon problem. We find that differences in behavior (switching, experimentation, best arm percentage) between these types of multi-armed bandit problems are consistent with predictions. However, we find that subjects use strategies that are different than predicted. We find that commonly suggested deterministic strategies are poor descriptors of subject behavior and that probabilistic strategies better fit the data. In particular, we find that a simple probabilistic ‘win-stay lose-shift’ strategy best fits most subjects.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115889102","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Inconsistent Disclosures 不一致的信息披露
ERN: Behavioral Economics (Topic) Pub Date : 2021-10-07 DOI: 10.2139/ssrn.3803729
Yichang Liu, Joshua M. Madsen, Frank S. Zhou
{"title":"Inconsistent Disclosures","authors":"Yichang Liu, Joshua M. Madsen, Frank S. Zhou","doi":"10.2139/ssrn.3803729","DOIUrl":"https://doi.org/10.2139/ssrn.3803729","url":null,"abstract":"Recent SEC regulations mandate that hedge fund advisers provide narrative disclosures of their business and operations. We find that 40% of these disclosures contain plausible inconsistencies regarding advisers' regulatory histories, conflicts of interest (COIs), and risks. Inconsistencies are associated with predictably lower performance and thus reflect omissions of likely material information. Inconsistent funds do not differ in their fund flows, flow-performance relation, leverage, ownership structure, or management fees, and thus appear to benefit by de-emphasizing fund problems and misleading attention-constrained market participants. Our study shows that inconsistencies represent a valuable signal largely ignored by even \"sophisticated'' investors and highlights the need for regulatory review to reduce misleading disclosures.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"185 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132612872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Identifying State Dependence in Brand Choice: Evidence from Hurricanes 识别品牌选择中的国家依赖:来自飓风的证据
ERN: Behavioral Economics (Topic) Pub Date : 2021-10-07 DOI: 10.2139/ssrn.3906086
Julia Levine, Stephan Seiler
{"title":"Identifying State Dependence in Brand Choice: Evidence from Hurricanes","authors":"Julia Levine, Stephan Seiler","doi":"10.2139/ssrn.3906086","DOIUrl":"https://doi.org/10.2139/ssrn.3906086","url":null,"abstract":"The paper analyzes stockouts resulting from hurricanes to study whether consumers are persistent in their brand choices.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"149 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134462317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Mothers, Fathers, and Others: Competition and Cooperation in the Aftermath of Conflict 母亲、父亲和其他人:冲突后的竞争与合作
ERN: Behavioral Economics (Topic) Pub Date : 2021-10-06 DOI: 10.2139/ssrn.3877021
Alessandra Cassar, Pauline Grosjean, Fatima Jamal Khan, M. Lambert
{"title":"Mothers, Fathers, and Others: Competition and Cooperation in the Aftermath of Conflict","authors":"Alessandra Cassar, Pauline Grosjean, Fatima Jamal Khan, M. Lambert","doi":"10.2139/ssrn.3877021","DOIUrl":"https://doi.org/10.2139/ssrn.3877021","url":null,"abstract":"We investigate the possibility that females and males had a distinct path in the evolution of competitiveness and cooperation. We conducted an experiment to elicit preferences for in-group egalitarianism and individual competitiveness for a random sample of 751 individuals in Sierra Leone (aged 18-85) to contrast the behavioural consequences of victimisation during the 1991-2003 civil war across sex and parental roles. Our data show that mothers and fathers display the highest level of cooperation, yet conflict exposure does not affect them. Egalitarianism increases after victimisation only among non-parents, with an effect stronger for males who are the least egalitarian to start with. Conflict exposure tames everyone’s competitive tendencies, but has the opposite effect for mothers, the least competitive in the absence of conflict. A sample of competitiveness among 191 parents from Colombia shows a similar effect. Our results imply that conflict, by closing sex and parental gaps in behavior, select for pressures to reduce within-group differences possibly to enhance internal cooperation. It primes individuals towards group and individual survival depending on both sex and parental role.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126302172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Personal Financial Distress, Limited Attention, and Sell-Side Analysts 个人财务困境，有限的关注和卖方分析师
ERN: Behavioral Economics (Topic) Pub Date : 2021-10-01 DOI: 10.2139/ssrn.3934675
H. Aslan
{"title":"Personal Financial Distress, Limited Attention, and Sell-Side Analysts","authors":"H. Aslan","doi":"10.2139/ssrn.3934675","DOIUrl":"https://doi.org/10.2139/ssrn.3934675","url":null,"abstract":"By linking sell-side equity analysts to their deed records and LinkedIn profiles, I show that analysts with higher exposure to negative wealth shocks issue more pessimistic and less accurate forecasts. The effects are stronger when analysts have higher leverage in their homes and face career concerns. I also find that stocks recommended by exposed analysts underperform those of non-exposed counterparts, by an amount that is significant and economically large in magnitude. The results remain robust to unobserved skill differences, the potential endogeneity of housing prices, the self-selection of analysts into neighborhoods with certain traits, and placebo tests where housing wealth shocks are randomized across analysts. Collectively, this study provides new evidence on if and how personal wealth shocks impact analysts' work productivity and forecast behavior.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129577998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Subjective Well-being and Social Desirability 主观幸福感和社会可取性
ERN: Behavioral Economics (Topic) Pub Date : 2021-09-25 DOI: 10.2139/ssrn.3930711
J. Reisinger
{"title":"Subjective Well-being and Social Desirability","authors":"J. Reisinger","doi":"10.2139/ssrn.3930711","DOIUrl":"https://doi.org/10.2139/ssrn.3930711","url":null,"abstract":"Survey measures of depression are increasingly used by economics researchers to provide a nuanced account of well-being. I show that levels of depression reported using such measures are significantly higher and levels of happiness significantly lower in survey interviews conducted using a response mode that allows for anonymous reporting compared to a mode that does not in three longitudinal surveys widely used in economics research. I exploit randomized assignment to survey mode, as well as panel methods, to show that this reflects the causal effect of survey mode, not selection. The difference in reported depression and happiness between modes is comparable to the difference between individuals in the 25th and 75th income percentiles. This finding suggests perceptions of social desirability may substantially bias measures of subjective well-being.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131123212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Financial Concerns and the Marginal Propensity to Consume in COVID Times: Evidence from UK Survey Data COVID时代的金融担忧和边际消费倾向:来自英国调查数据的证据
ERN: Behavioral Economics (Topic) Pub Date : 2021-09-14 DOI: 10.2139/ssrn.3923295
Bruno Albuquerque, Georgina Green
{"title":"Financial Concerns and the Marginal Propensity to Consume in COVID Times: Evidence from UK Survey Data","authors":"Bruno Albuquerque, Georgina Green","doi":"10.2139/ssrn.3923295","DOIUrl":"https://doi.org/10.2139/ssrn.3923295","url":null,"abstract":"We study how household concerns about their future financial situation may affect the marginal propensity to consume (MPC) during the COVID-19 pandemic. We use a representative survey of UK households to compute the MPC from a hypothetical transfer of £500. Our main finding points to a key role played by household expectations in determining differences in MPCs across households: those who are concerned about not being able to pay their usual bills and expenses in three months have an MPC that is more than 20% higher than households who are not concerned. Our findings suggest that policies that provide targeted support to households who are more vulnerable to becoming financially distressed may prove more effective in stimulating demand than providing stimulus payments to all households.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"139 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121418605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
An Experimental Exploration of Reasonable Doubt 合理怀疑的实验探索
ERN: Behavioral Economics (Topic) Pub Date : 2021-09-14 DOI: 10.2139/ssrn.3923809
J. Aimone, Stanton Hudja, Wilson Law, Charles M. North, Jason Ralston, Lucas Rentschler
{"title":"An Experimental Exploration of Reasonable Doubt","authors":"J. Aimone, Stanton Hudja, Wilson Law, Charles M. North, Jason Ralston, Lucas Rentschler","doi":"10.2139/ssrn.3923809","DOIUrl":"https://doi.org/10.2139/ssrn.3923809","url":null,"abstract":"The definition of reasonable doubt presented in jury instructions varies considerably across states. We use a controlled experiment to analyze the relationship between the definition of reasonable doubt and juror decisions. In our novel (preregistered) experiment, we vary the definition of reasonable doubt between subjects and elicit the level of evidence required for subjects to convict a defendant. We analyze juror decisions under two state definitions that are markedly different (Wisconsin and West Virginia) and analyze juror decisions when reasonable doubt is not explicitly defined. We find similar behavior in each treatment. We ran three additional treatments to determine why behavior does not seem to vary across definitions. Our data is consistent with subjects having pre-conceived notions of reasonable doubt that are not affected by jury instructions.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126657006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Modelling the Effects of Decision Complexity on Choice Behaviour Under Risk 风险下决策复杂性对选择行为影响的建模
ERN: Behavioral Economics (Topic) Pub Date : 2021-09-04 DOI: 10.2139/ssrn.3917566
Lukman Hakim
{"title":"Modelling the Effects of Decision Complexity on Choice Behaviour Under Risk","authors":"Lukman Hakim","doi":"10.2139/ssrn.3917566","DOIUrl":"https://doi.org/10.2139/ssrn.3917566","url":null,"abstract":"This paper is concerned with how the effect of task complexity on behavioural error is better modelled and how the better performance of a stochastic model can be understood in a behavioural sense. Three behavioural error models are considered in this study; each accommodates the complexity effect by specifying the disturbance’s standard deviation as a function of ad hoc measures of task complexity. The first two stochastic models are Contextual Utility and the Decision Field Theory. We introduce an alternative specification borrowed from the consumer behaviour literature and built upon the Entropy function. The specification, also called the Entropy model, allows one to incorporate the effects of task complexity on behavioural errors more flexibly than the former two. We empirically evaluate the performance of the three heteroskedastic error models relative to the classical Fechner specification, using data from a longitudinal field experiment conducted in Denmark. Our analyses reject homoskedasticity in favour of one of the three heteroskedastic models. The Entropy model provides the best fit to the data under the Expected Utility Theory (EUT), and the Decision Field Theory delivers the best fit under the Rank Dependent Utility (RDU). Our results also show that the superior performance of a stochastic model can be explained by its ability to capture extreme behaviours in terms of utility curvature and decision weight at an individual level. Finally, we find that the results under EUT are robust across alternative stochastic models, whereas the results under RDU show some sensitivity.","PeriodicalId":263662,"journal":{"name":"ERN: Behavioral Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130707907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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