WP 2017_04 The Methodologies of Behavioral Econometrics

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Forthcoming – Philosophy and Interdisciplinary Social Science: A Dialogue

ABSTRACT: Behavioral econometrics is one part of a methodological trinity that includes theory, data collection and econometrics. Sometimes, on a good methodological day, there are few demands on the econometrician and the data can just be described and summarized, or elementary statistical… more »

WP 2016_06 Varieties of Paternalism and the Heterogeneity of Utility Structures

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Forthcoming – Journal of Economic Methodology

ABSTRACT: A principal source of interest in behavioral economics has been its advertised contributions to policies aimed at ‘nudging’ people away from allegedly natural but self-defeating behavior toward patterns of response thought more likely to improve their welfare. This has occasioned controversies among economists and… more »

WP 2015-05 Information Characteristics and Errors in Expectations: Experimental Evidence

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Forthcoming – Journal of Financial and Quantitative Analysis

ABSTRACT: The behavioral biases documented in psychology are not always robust when tested in economic conditions. We design an experiment to test the hypothesis that, in violation of Bayes Rule, some people respond more forcefully to the strength of an information signal than… 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 »