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Three Experiments in Behavioral Econ...

Curry, Benjamin.

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Three Experiments in Behavioral Economics.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Three Experiments in Behavioral Economics./
Author:	Curry, Benjamin.
Description:	91 p.
Notes:	Source: Dissertation Abstracts International, Volume: 75-12(E), Section: A.
Contained By:	Dissertation Abstracts International75-12A(E).
Subject:	Economic theory. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3633071
ISBN:	9781321125443

Three Experiments in Behavioral Economics.
Curry, Benjamin.

Three Experiments in Behavioral Economics. - 91 p.

Source: Dissertation Abstracts International, Volume: 75-12(E), Section: A.

Thesis (Ph.D.)--The Claremont Graduate University, 2014.

This item must not be sold to any third party vendors.

Economics is the study of how people allocate scarce resources, in other words, how they make choices given a certain set of constraints. Most of the research in the field of economics over the last century has been of a normative nature, how the world should work, as opposed to of a more positive nature, how the world actually works. With social sciences, like economics, there often exists some conflict between normative theory (rational individuals shouldn't buy lotto tickets) and positive observation (millions of people buy lotto tickets). In order to build models that are descriptive, mathematically tractable, and with testable predictions, economists have had to marginalize, ignore, or use some other form of clever obfuscation to explain why their models do not always match observed human behavior. The goal of behavioral economists is to build models that increase ecological validity of economic analysis. Of course, not every psychological factor can be built into every model. Like any good theorists, behavior economists strive for parsimony as well as generality. They try to focus on the most important factors that drive nonstandard behavior without overloading the model. Nonstandard does not imply ignorance or stupidity on the part of the people when they act differently than the model predicts, it's more likely the case that the model in question isn't properly capturing all the incentives and contextual inputs affecting the decision maker. The following three papers hope to further our understanding of how some of those contextual inputs, specifically, age, communication and promise making, and human-animal interactions affect decision making in a variety of economic tasks.

ISBN: 9781321125443Subjects--Topical Terms:

1556984
Economic theory.

Three Experiments in Behavioral Economics.
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500 $a Source: Dissertation Abstracts International, Volume: 75-12(E), Section: A.
500 $a Adviser: Paul J. Zak.
502 $a Thesis (Ph.D.)--The Claremont Graduate University, 2014.
506 $a This item must not be sold to any third party vendors.
506 $a This item must not be added to any third party search indexes.
520 $a Economics is the study of how people allocate scarce resources, in other words, how they make choices given a certain set of constraints. Most of the research in the field of economics over the last century has been of a normative nature, how the world should work, as opposed to of a more positive nature, how the world actually works. With social sciences, like economics, there often exists some conflict between normative theory (rational individuals shouldn't buy lotto tickets) and positive observation (millions of people buy lotto tickets). In order to build models that are descriptive, mathematically tractable, and with testable predictions, economists have had to marginalize, ignore, or use some other form of clever obfuscation to explain why their models do not always match observed human behavior. The goal of behavioral economists is to build models that increase ecological validity of economic analysis. Of course, not every psychological factor can be built into every model. Like any good theorists, behavior economists strive for parsimony as well as generality. They try to focus on the most important factors that drive nonstandard behavior without overloading the model. Nonstandard does not imply ignorance or stupidity on the part of the people when they act differently than the model predicts, it's more likely the case that the model in question isn't properly capturing all the incentives and contextual inputs affecting the decision maker. The following three papers hope to further our understanding of how some of those contextual inputs, specifically, age, communication and promise making, and human-animal interactions affect decision making in a variety of economic tasks.
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