Similar Search Results

A Tractable Theory of Choice Based on Cell Behavior

Valdés-Edwards, Gonzalo; Valdés-Prieto, Salvador - CESifo - 2013

This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view...

Persistent link: https://www.econbiz.de/10010700361

The Market for Conservation and Other Hostages

Harstad, Bård - 2021

A “conservation good” (such as a tropical forest) is owned by a seller who is tempted to consume (or cut), but a buyer benefits more from conservation. The seller does conserve if the buyer is expected to buy, but the buyer is unwilling to pay as long as the seller conserves. This...

Persistent link: https://www.econbiz.de/10013315751

Risk Aversion as a Perceptual Bias

Khaw, Mel - 2017

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … diminishing marginal utility of wealth. However, observed choices between risky lotteries are difficult to reconcile with EUM: for … sufficiently favorable large gambles) to be consistent with any utility-of-wealth function. We propose a unified explanation for …

Persistent link: https://www.econbiz.de/10012956867

Genes, Economics, and Happiness

De Neve, Jan‐Emmanuel - 2014

implications for how economists think about the determinants of utility, and the extent to which exogenous shocks might affect …

Persistent link: https://www.econbiz.de/10013070290

A Tractable Theory of Choice Based on Cell Behavior

Valdés-Edwards, Gonzalo - 2013

Persistent link: https://www.econbiz.de/10013074398

Measuring the Consumption Value of Higher Education

Alstadsæter, Annette - 2009

This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...

Persistent link: https://www.econbiz.de/10013155936

The Consumption Value of Higher Education

Alstadsæter, Annette; Sievertsen, Hans Henrik - 2021

The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for...

Persistent link: https://www.econbiz.de/10013316279

How Much Carbon Pricing is in Countries' Own Interests? The Critical Role of Co-Benefits

Parry, Ian W. H. - 2014

This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO<sub>2</sub>) emissions is in their own national interests due to domestic co-benefits. On average, nationally efficient prices are substantial, $57.5 per ton of CO<sub>2</sub> (for year 2010), reflecting primarily...

Persistent link: https://www.econbiz.de/10013045322

Revealed Preferences in a Sequential Prisoners' Dilemma : A Horse-Race between Six Utility Functions

Miettinen, Topi - 2020

We experimentally investigate behavior and beliefs in a sequential prisoner's dilemma. Each subject had to choose an action as first mover and a conditional action as second mover. All subjects also had to state their beliefs about others' second-mover choices. Using these elicited beliefs, we...

Persistent link: https://www.econbiz.de/10012854501

Public Goods Games and Psychological Utility : Theory and Evidence

Dhami, Sanjit S. - 2018

We consider a theoretical model of a public goods game that incorporates reciprocity, guilt-aversion/surprise-seeking, and the attribution of intentions behind these emotions. In order to test our predictions, we implement the ‘induced beliefs method' and a within-subjects design, using the...

Persistent link: https://www.econbiz.de/10012916525