WP 2011

WP 2011-07 What Can Economics Contribute to the Study of Human Evolution?

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Published in 2012 in Biology & Philosophy, Volume 27, Issue 2.

ABSTRACT. The revised edition of Paul Seabright’s The Company of Strangers is critically reviewed. Seabright aims to help non‐economists participating in the cross‐disciplinary study of the evolution of human sociality appreciate the potential value that can be added by economists.… more »

WP 2011-06 Notes on Coordination, Game Theory and the Evolutionary Basis of Language

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Published in 2012 in Interaction Studies, Volume 13, Issue 1.

ABSTRACT. It is widely appreciated that establishment and maintenance of coordination are among the key evolutionary promoters and stabilizers of human language. In consequence, it is also generally recognized that game theory is an important tool for studying these phenomena. However,… more »

WP 2011-05 Avoiding the Curves: Direct Elicitation of Time Preferences

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Published in 2012 in Journal of Risk and Uncertainty, Volume 44, Issue 3.

ABSTRACT. We propose and test a new method for eliciting curvature-controlled discount rates that are invariant to the form of the utility function. The advantage of this method is that individual discount rates can be obtained without knowledge… more »

WP 2011-04 Multiattribute Utility Theory, Intertemporal Utility and Correlation Aversion

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Forthcoming – International Economic Review

ABSTRACT: Convenient assumptions about qualitative properties of the intertemporal utility function have generated counter-intuitive implications for the relationship between atemporal risk aversion and the intertemporal elasticity of substitution. If the intertemporal utility function is additively separable then the latter two concepts are the inverse of each… more »

WP 2011-03 Discounting Behavior: A Reconsideration

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Published in 2014 in European Economic Review, Volume 71.

ABSTRACT. We re-evaluate the theory, experimental design and econometrics behind claims that individuals exhibit non-constant discounting behavior. Theory points to the importance of controlling for the non-linearity of the utility function of individuals, since the discount rate is defined over time-dated utility… more »

WP 2011-02 Remarks on Virtual World and Virtual Reality Experiments

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Published in 2011 in Southern Economic Journal, Volume 78, Issue 1.

ABSTRACT. In recent years there has been increased behavioral research in virtual reality and virtual worlds. While these experiments could offer substantial advantages to researchers, they might also pose risks. We begin by identifying key concepts in virtual experimental research.… more »

WP 2011-01 Discounting Behavior and the Magnitude Effect

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Published in 2013 in Economica, Volume 80, Issue 320.

ABSTRACT. We evaluate the claim that individuals exhibit a magnitude effect in their discounting behavior, which is said to occur when higher discount rates are inferred from choices made with lower principals, all else being equal. If the magnitude effect is quantitatively… more »