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 2017-02 Disordered Gambling Prevalence: Methodological Innovations in a General Danish Population Survey

*Note that this paper was previously listed as WP 2016-02 Gambling Problems in the General Danish Population: Survey Evidence, and then was inadvertently reposted as 2017-02. Both links should direct you to this page, and should there be any newer versions, we will update this page.

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Forthcoming – Journal of Gambling… more »

WP 2016-11 Once Bitten, Twice Shy: The Role of Inertia and Personal Experience in Risk Taking

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Forthcoming – Journal of Financial Economics

ABSTRACT: We study how inertia and personal experiences affect individual risk taking. Our research design relies on active portfolio decisions relating to inheritances to separate the effect of personal experiences from inertia, which otherwise would be observationally equivalent. Experience derives from investments in banks that… more »

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

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Published in Journal of Economic Methodology, Volume 25, Issue 1.

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… more »

WP 2016_04 Small Stakes Risk Aversion in the Laboratory: A Reconsideration

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Forthcoming – Economic Letters

ABSTRACT: Evidence of risk aversion in laboratory settings over small stakes leads to a priori implausible levels of risk aversion over large stakes under certain assumptions. One core assumption in statements of this calibration puzzle is that small-stakes risk aversion is observed over all levels of wealth, or… more »

WP 2015-11 Risk Preferences, Time Preferences and Smoking Behavior

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Forthcoming: Southern Economic Journal

ABSTRACT: There is a rich theoretical literature in economics which models habit-forming behaviours, of which addiction is the exemplar, but there is a paucity of experimental economic studies eliciting and comparing the preferences that economic theory suggests may differ between addicts and non-addicts. We evaluate an incentive-compatible risk… more »

WP 2011-17 Asset Integration and Attitudes to Risk: Theory and Evidence

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Forthcoming – Review of Economics & Statistics.

ABSTRACT. We provide evidence that choices over small stakes bets are consistent with assumptions of some payoff calibration paradoxes. We then exploit the existence of detailed information on individual wealth of our experimental subjects in Denmark, and directly estimate risk attitudes and the degree… more »