ABSTRACT: There is evidence that behavior changes when individuals make choices over hypothetical scenarios and stakes rather than real scenarios and stakes. What is the nature of this evidence, and how significant is it for different types of inferences? In particular,… more »
ABSTRACT: I study the effect of task difficulty on workers’ effort. I find that task difficulty has an inverse-U effect on effort and that this effect is quantitatively large, especially when compared to the effect of conditional monetary rewards. Difficulty acts as… more »
AUTHORS: Glenn W. Harrison, Andre Hofmeyr, Harold Kincaid, Brian Monroe, Don Ross, Mark Schneider, J. Todd Swarthout
ABSTRACT: Subjective belief elicitation about uncertain events has a long lineage in the economics and statistics literatures. Recent developments in the experimental elicitation and statistical estimation… more »
Published in 2021 in Geneva Risk & Insurance Review, Volume 47.
AUTHORS: Glenn Harrison, Karlijn Morsink and Mark Schneider
ABSTRACT: There is widespread concern in developing countries with the expansion of formal insurance products to help manage significant risks. These concerns arise primarily from a lack of understanding of insurance… more »
Published in 2019 in The Geneva Risk and Insurance Review, Volume 44, Issue 2.
AUTHORS: Glenn W. Harrison
ABSTRACT: Behavioral economics poses a challenge for the welfare evaluation of insurance products and policy. It demands that we recognize that the descriptive account of behavior toward insurance depends on risk and… more »
Published in 2019 in Risk Management & Insurance Review, Volume 22.
AUTHORS: Glenn W. Harrison and Jia Min Ng
ABSTRACT: Decisions to purchase insurance should be a perfect place to see economic theory at work in general, and behavioral economics at work in particular. We have well‐developed theories of the… more »