Now showing items 1-20 of 127

  • Acquiring an economic habitus : the role of calculation in learning ‘the rules of the game' 

    Gulledge, Elizabeth Anne; Roscoe, Philip John; Townley, Barbara (2014) - Conference paper
    Pierre Bourdieu’s classical sociology and the actor network based ‘economization’ literature are often considered contradictory, despite some agreement on the constructed nature of economic man. Through an examination of ...
  • Anticipation, learning and welfare : the case of distortionary taxation 

    Gasteiger, Emanuel; Zhang, Shoujian (University of St Andrews, 2013-08-26) - Working or discussion paper
    We study the impact of anticipated fiscal policy changes in a Ramsey economy where agents form long-horizon expectations using adaptive learning. We ex- tend the existing framework by introducing distortionary taxes as ...
  • Antitrust penalties and the implications of empirical evidence on cartel overcharges 

    Katsoulacos, Yannis; Ulph, David Tregear (2013-11) - Journal article
    In this paper we provide a number of extensions to the theory of antitrust fines and we use these, with existing and new datasets, to contribute to a better understanding of the current fining policies of Competition ...
  • Asymmetric dominance, deferral and status quo bias in a behavioral model of choice 

    Gerasimou, Georgios (2016-02) - Journal article
    This paper proposes and axiomatically characterizes a model of choice that builds on the criterion of partial dominance and allows for two types of avoidant behavior: *choice deferral* and *status quo bias*. These phenomena ...
  • A basic income can raise employment and welfare for a majority 

    FitzRoy, Felix R; Jin, Jim Yongtao (University of St Andrews, 2015-06) - Working or discussion paper
    With growing interest in a universal basic income (BI), we provide new results for a majority to benefit from replacing (some) unemployment benefits with BI. Given any income distribution and an extensive margin, such a ...
  • A behavioural model of choice in the presence of decision conflict 

    Gerasimou, Georgios (University of St Andrews, 2013-05) - Working or discussion paper
    This paper proposes a model of choice that does not assume completeness of the decision maker’s preferences. The model explains in a natural way, and within a unified framework choice when preference-incomparable options ...
  • Beliefs and actions in the trust game : creating instrumental variables to estimate the causal effect 

    Costa-Gomes, Miguel; Huck, Steffan; Weizsaecker, Georg (2014-11) - Journal article
    In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments ask participants to state beliefs ...
  • Beliefs and actions in the trust game : Creating instrumental variables to estimate the causal effect 

    Costa-Gomes, Miguel; Huck, Steffen; Weizsacker, Georg (Wissenschaftszentrum Berlin für Sozialforschung gGmbH, 2012-08-01) - Working or discussion paper
    In many economic contexts, an elusive variable of interest is the agent’s belief about relevant events, e.g. about other agents’ behavior. A growing number of surveys and experiments ask participants to state beliefs ...
  • Boom goes the price : giant resource discoveries and real exchange rate appreciation 

    Harding, Torfinn; Stefanski, Radoslaw (Radek); Toews, Gerhard (University of St Andrews, 2016-05-21) - Working or discussion paper
    We estimate the effect of giant oil and gas discoveries on bilateral real exchange rates. The size and plausibly exogenous timing of such discoveries make them ideal for identifying the effects of an anticipated resource ...
  • A case of framing effects : the elicitation of time preferences 

    Manzini, Paola; Mariotti, Marco (University of St Andrews, 2014-07-21) - Working or discussion paper
    We compare three methods for the elicitation of time preferences in an experimental setting: the Becker-DeGroot-Marschak procedure (BDM); the second price auction; and the multiple price list format. The first two methods ...
  • A characterization of risk-neutral and ambiguity-averse behavior 

    Gerasimou, Georgios (University of St Andrews, 2015-12-09) - Working or discussion paper
    This paper studies a decision maker who chooses monetary bets/investment portfolios under pure uncertainty. Necessary and sufficient conditions on his preferences over these objects are provided for his choice behavior to ...
  • Choice by lexicographic semiorders 

    Manzini, Paola; Mariotti, Marco (2012-01) - Journal article
    In Tversky’s (1969) model of a lexicographic semiorder, a preference is generated via the sequential application of numerical criteria by declaring an alternative x better than an alternative y if the first criterion that ...
  • Choice consistency and preference stability in test-retests of discrete choice experiment and open-ended willingness to pay elicitation formats 

    Brouwer, Roy; Logar, Ivana; Sheremet, Oleg (2016-07-08) - Journal article
    This study tests the temporal stability of preferences, choices and willingness to pay (WTP) values using both discrete choice experiment (DCE) and open-ended (OE) WTP elicitation formats. The same sample is surveyed three ...
  • Choice, deferral and consistency 

    Costa-Gomes, Miguel; Cueva, Carlos; Gerasimou, Georgios (University of St Andrews, 2014-12-26) - Working or discussion paper
    In this paper we study decision making in situations where the individual's preferences are not assumed to be complete. First, we identify conditions that are necessary and sufficient for choice behavior in general domains ...
  • Choosing on influence 

    Cuhadaroglu, Tugce (University of St Andrews, 2015-04-07) - Working or discussion paper
    Interaction, the act of mutual influence between two or more individuals, is an essential part of daily life and economic decisions. Yet, micro-foundations of interaction are unexplored. This paper presents a fi rst attempt ...
  • A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study" 

    Costa-Gomes, M.A.; Shimoji, M. (2015) - Journal article
    Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. ...
  • Compensatory and noncompensatory decision strategies in a monopolistic screening model 

    Papi, Mauro (2011-11-23) - Working or discussion paper
    A monopolist supplies a multi-attribute good and does not know whether the consumer makes or avoids tradeoffs between attributes. We illustrate a form of exploitation to which the tradeoff-avoiding consumer is vulnerable ...
  • Competing for attention : is the showiest also the best? 

    Manzini, Paola; Mariotti, Marco (University of St Andrews, 2014-04) - Working or discussion paper
    We introduce attention games. Alternatives ranked by quality (producers, politicians, sexual partners...) desire to be chosen and compete for the imperfect attention of a chooser by investing in their own salience. We prove ...
  • A consistent nonparametric bootstrap test of exogeneity 

    Lee, Jinhyun (University of St Andrews, 2013-09) - Working or discussion paper
    This paper proposes a novel way of testing exogeneity of an explanatory variable without any parametric assumptions in the presence of a "conditional" instrumental variable. A testable implication is derived that if an ...
  • Constructing the retail investor : performativity and power in the market for investment services 

    Roscoe, Philip John (2013-06) - Conference paper
    This paper examines retail investment as a practice performed by marketing knowledge and highlights the power effects of market devices. Using a qualitative study of retail investors in the United Kingdom, it considers the ...