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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

Preferences and COVID-19 Vaccination Intentions

Blondel, Serge; Langot, François; Mueller, Judith E.; … - 2021

This paper shows that prospect theory, extended to account for differences across individuals in their patience and their valuation of the vaccination as a common good can explain why more than 40% of the population has intent to reject the Covid-19 vaccination, as well as the differences in...

Persistent link: https://www.econbiz.de/10012882399

Everyone is a winner: promoting cooperation through all-can-win intergroup competition

Reuben, Ernesto; Tyran, Jean-Robert - 2009

We test if cooperation is promoted by rank-order competition between groups in which all groups can be ranked first, i … are absent if groups perform at the same level and it therefore does not eliminate low-cooperation equilibria. We find … that all-can-win competition produces a universal increase in cooperation and benefits a majority of individuals if …

Persistent link: https://www.econbiz.de/10010269308

The effect of religion on cooperation and altruistic punishment: Experimental evidence from public goods experiments

Akay, Alpaslan; Karabulut, Gökhan; Martinsson, Peter - 2011

This paper experimentally examines how religious festivals and the degree of religiosity affect cooperation and … religious festivals other than the normal daily prayers. The overall results show no differences in cooperation or altruistic … differences in beliefs about others contributions. By and large, this indicates the importance of conditional cooperation. …

Persistent link: https://www.econbiz.de/10010282506

Competition, cooperation, and collective choice

Markussen, Thomas; Reuben, Ernesto; Tyran, Jean-Robert - 2012

economics. This paper explores voting on a scheme of intergroup competition, which facilitates cooperation in a social dilemma … situation. Experimental results show that the competitive scheme fosters cooperation. Competition is popular, but the electoral …

Persistent link: https://www.econbiz.de/10010283979

Are income and consumption taxes ever really equivalent? evidence from a real-effort experiment with real goods

Blumkin, Tomer; Ruffle, Bradley J.; Ganun, Yosef - 2010

The public finance literature demonstrates the equivalence between consumption and laborincome (wage) taxes. We introduce an experimental paradigm in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this paradigm to test whether a labor-income...

Persistent link: https://www.econbiz.de/10010274549

A reason for unreason: Returns-based beliefs in game theory

Velu, Chander; Iyer, Sriya; Gair, Jonathan R. - 2012

Players cooperate in experiments more than game theory would predict. In order to explain this, we introduce the 'returns-based beliefs' approach: the expected returns of a particular strategy in proportion to the total expected returns of all strategies. Using a decision analytic solution...

Persistent link: https://www.econbiz.de/10010287627

A parametric analysis of prospect theory's functionals for the general population

Booij, Adam S.; van Praag, Bernard M. S.; van de … - 2009

This paper presents the results of an experiment that completely measures the utility function and probability weighting function for different positive and negative monetary outcomes, using a representative sample of N = 1935 from the general public. The results confirm earlier findings in the...

Persistent link: https://www.econbiz.de/10010277017

Loss aversion and labor supply

Goette, Lorenz; Huffman, David; Fehr, Ernst - 2003

In many occupations workers? labor supply choices are constrained by institutional rules regulating labor time and effort provision. This renders explicit tests of the neoclassical theory of labor supply difficult. Here we present evidence from studies examining labor supply responses in...

Persistent link: https://www.econbiz.de/10010261634

Narrow bracketing and dominated choices

Rabin, Matthew; Weizsäcker, Georg - 2007

An experiment by Tversky and Kahneman (1981) illustrates that people's tendency to evaluate risky decisions separately can lead them to choose combinations of choices that are first-order stochastically dominated by other available combinations. We investigate the generality of this effect both...

Persistent link: https://www.econbiz.de/10010268303