WP 2023

WP 2023-06 The End of Behavioral Insurance

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Forthcoming, Georges Dionne (ed.) Handbook of Insurance (New York: Springer, 2024, Third Edition)

AUTHORS: Glenn W. Harrison

ABSTRACT: Our descriptive understanding of observed insurance behavior has been enhanced by considering alternative modeling approaches, and promises to do the same to our normative evaluation of that behavior. Those alternatives come from… more »

WP 2023-04 Evaluating the Normative Coherence of Stochastic Models

Posted On March 27, 2023
Categories Working Papers, WP 2023

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AUTHOR: Brian Albert Monroe

ABSTRACT: Stochastic models are commonly used to estimate the risk preferences of experimental subjects when the subjects’ choices show apparent violations of Expected Utility Theory. While the descriptive properties of these models have been the subject of much investigation, the normative consequences of these models have… more »

WP 2023-03 Mindshaping, Conditional Games, and the Harsanyi Doctrine

Posted On February 6, 2023
Categories Working Papers, WP 2023

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ABSTRACT: Much of the game theory literature concerns mechanisms by which players can infer information about the utilities, beliefs, and strategies of other players based on actions within games and pre-play signals. When game theory is applied to strategic interactions among people, such analysis interprets them as trying to “mindread”.… more »

WP 2023-02 Behavioral Welfare Economics and the Quantitative Intentional Stance

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Forthcoming in G.W. Harrison and D. Ross (eds.), Models of Risk Preferences: Descriptive and Normative Challenges, (Bingley, UK: Emerald, Research in Experimental Economics, 2023).

ABSTRACT: Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account… more »

WP 2023-01 Deductibles and Health Care Utilization: An Experiment on the Role of Forward-Looking Behavior

Posted On January 5, 2023
Categories Working Papers, WP 2023

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AUTHORS: Glenn W. Harrison, Nadja Kairies-Schwarz, and Johann Han

ABSTRACT: We investigate the effects of nonlinear deductible contracts on health utilization behavior by using a laboratory experiment in which we can control the likelihood of hitting the deductible. We also evaluate the effect of subjects receiving regular information updates on… more »