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Carrots and Sticks: New Evidence in Public Goods Games with Privileged Groups 胡萝卜和大棒:特权群体公共产品博弈的新证据
Chicago Booth MICRO: Behavioral Economics (Topic) Pub Date : 2020-05-30 DOI: 10.2139/ssrn.3729131
Jie Chen
{"title":"Carrots and Sticks: New Evidence in Public Goods Games with Privileged Groups","authors":"Jie Chen","doi":"10.2139/ssrn.3729131","DOIUrl":"https://doi.org/10.2139/ssrn.3729131","url":null,"abstract":"Standard public goods games often assign group members the same marginal per capita returns to public goods production, but in reality group members facing differential individual returns often must collaborate to produce a public good. This paper uses a laboratory experiment to investigate the comparative efficacy of punishment and reward in groups that contain a “privileged” player. In public goods settings, a privileged player is one who has higher incentives to contribute to the public good than other group members; punishment and reward are implemented via allowing every member to sanction other members at a cost. In such settings, will punishment or reward motivate higher contributions in privileged groups? I find that reward increases group contributions while punishment does not. Reward also significantly mitigates contribution decay over successive periods and improves social welfare. Many real-world groups are composed of groups with members who have varying degrees of interest in a common purpose. The present investigation of the efficacy of reward and punishment in groups with a privileged player can shed light on how to facilitate better cooperation and induce better outcomes in these real-world settings.","PeriodicalId":341503,"journal":{"name":"Chicago Booth MICRO: Behavioral Economics (Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114135247","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
Neuroeconomic Studies in Industrial Organization: Brand, Advertising and Price Effects on Consumer Valuation and Choice 产业组织中的神经经济学研究:品牌、广告和价格对消费者评价和选择的影响
Chicago Booth MICRO: Behavioral Economics (Topic) Pub Date : 2018-02-01 DOI: 10.4337/9781784718985.00020
C. Tremblay
{"title":"Neuroeconomic Studies in Industrial Organization: Brand, Advertising and Price Effects on Consumer Valuation and Choice","authors":"C. Tremblay","doi":"10.4337/9781784718985.00020","DOIUrl":"https://doi.org/10.4337/9781784718985.00020","url":null,"abstract":"Neuroeconomics makes use of new data and tools from neuroscience to enrich the study of economic decision-making. This chapter introduces neuroeconomic methods and surveys a number of contributions to the literature regarding brain responses to brands, advertisements, pricing and product characteristics. These contributions rely primarily on functional magnetic resonance imaging (fMRI) although electroencephalography (EEG) and other methods are also used. Industries represented in the survey include beverages (cola, wine, beer, coffee, and milkshakes); artwork; music; magazines; handbags; televisions; and sunscreen as well as anti-smoking advertisements. Some of these studies move beyond identification of brain regions associated with advertising, for example, to using brain activity to predict individual choices and even the behavior of the population at large.","PeriodicalId":341503,"journal":{"name":"Chicago Booth MICRO: Behavioral Economics (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132506109","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
Operationalizing a Behavioral Finance Risk Model: A Theoretical and Empirical Framework 行为金融风险模型的操作化:理论与实证框架
Chicago Booth MICRO: Behavioral Economics (Topic) Pub Date : 2013-03-21 DOI: 10.57229/2373-1761.1000
Rassoul Yazdipour, William P. Neace
{"title":"Operationalizing a Behavioral Finance Risk Model: A Theoretical and Empirical Framework","authors":"Rassoul Yazdipour, William P. Neace","doi":"10.57229/2373-1761.1000","DOIUrl":"https://doi.org/10.57229/2373-1761.1000","url":null,"abstract":"To keep up with the rather fast-growing interest in the discipline of Behavioral Finance and Economics caused in part by the new realities of the post-200S world, and the realities prevailing over three decades before and leading up to that year- there is a discernible need for the production of new generations of testable and yet more realistic models and theories as guides for financial and economic decision makers everywhere. The present work is one such attempt in that direction. This writing first improves upon a recently developed, and real-life-inspired, Behavioral Finance Risk Model (Yazdipour, 2011) and then offers a specific methodology for testing it.","PeriodicalId":341503,"journal":{"name":"Chicago Booth MICRO: Behavioral Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130025623","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: 5
Behavior of Investors on a Multi-Asset Market 多资产市场中的投资者行为
Chicago Booth MICRO: Behavioral Economics (Topic) Pub Date : 2009-06-24 DOI: 10.2139/ssrn.1425000
Matjaž Steinbacher
{"title":"Behavior of Investors on a Multi-Asset Market","authors":"Matjaž Steinbacher","doi":"10.2139/ssrn.1425000","DOIUrl":"https://doi.org/10.2139/ssrn.1425000","url":null,"abstract":"This paper analyzes the field of investors’ decision-making on a multi-asset market. It does it through a simulation games on a social network framework. It has been demonstrated that more stocks there are in the game and more changing alternatives investors have available to choose from, tougher it is for them to make decisions. Despite in most simulations the safest alternative was dominant, many investors opt for portfolio of the safest and the riskiest stock, by which they back the risk they take with some safe stocks. Non-omniscient investors behave chaotically. In all the cases, liquidity agents proved to be decisive elements of the games, though not always able to deliver the information of all the alternatives when too many alternatives are available.","PeriodicalId":341503,"journal":{"name":"Chicago Booth MICRO: Behavioral Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125549697","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
Good Housekeeping? Reputation, Fixed Exchange Rates, and the 'Original Sin' Problem 好管家吗?声誉、固定汇率和“原罪”问题
Chicago Booth MICRO: Behavioral Economics (Topic) Pub Date : 2004-04-01 DOI: 10.2139/ssrn.1008775
Prasanna Gai, K. Tan
{"title":"Good Housekeeping? Reputation, Fixed Exchange Rates, and the 'Original Sin' Problem","authors":"Prasanna Gai, K. Tan","doi":"10.2139/ssrn.1008775","DOIUrl":"https://doi.org/10.2139/ssrn.1008775","url":null,"abstract":"This paper examines how the choice of exchange rate regime can signal financial rectitude and, in so doing, influence a countryi¦s ability to borrow internationally in domestic currency. We develop a model in which the constant probability of a i¥type changei¦ creates incentives for disciplined policymakers to fix the exchange rate in an effort to separate themselves from more opportunistic types. Because the track record of a policymaker is imperfectly observable, reputational incentives depend on the past behaviour of previous generations and there is hysterisis in the updating behaviour of creditors. i¥Original sini¦ iV the inflationary track record of onei¦s predecessors iV can reverberate over time leading creditors to be wary about extending sovereign loans in domestic currency terms. Our findings seem consistent with the pattern of the currency composition of debt in Japan and Russia at the turn of the nineteenth century.","PeriodicalId":341503,"journal":{"name":"Chicago Booth MICRO: Behavioral Economics (Topic)","volume":"205 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132119149","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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