Field Experiments on Anchoring of Economic Valuations

A pillar of behavioral research is the view that preferences are constructed during the value elicitation process, but it is unclear whether, and to what extent, such biases influence real market equilibria. This paper examines the “anchoring” phenomenon in the field. The first experiment produces evidence that inexperienced consumers can be anchored in the value elicitation process, yet there is little evidence that experienced agents are influenced by anchors. The second experiment finds that anchors have only transient effects on prices and quantities traded: aggregate market outcomes converge to the intersection of supply and demand after a few market periods.field experiment, anchoring, valuation, experience

The Value of the Nonprofit Environment Field in Illinois: A Social Return on Investment Analysis with Donors Forum

This Social Return on Investment (SROI) analysis compares the public and private investment into the Illinois nonprofit environment field to the social, environmental, and economic value it creates for people who live in Illinois and for society as a whole. What does this investment in Illinois's environment yield?Every dollar invested into the Illinois nonprofit environment field generates an estimated $58 in socio-environmental-economic value.$45 of this socio-environmental-economic value accrues to the people of Illinois.$13 of this socio-environmental-economic value accrues to society through increased tax revenue, increased spending in the state due to environment sector jobs, and avoided spending to treat costly environmental problems.The real utility of an SROI lies in its ability to reveal if and how our investments into programs pay off. And on that, this SROI of the nonprofit environment field in Illinois is clear: investing in the environment yields dividends

PAY-AS-YOU-SPEED: AN ECONOMIC FIELD-EXPERIMENT

We report a vehicle-fleet experiment with an economic incentive given to car drivers for keeping within speed limits. A pay-as-you-speed traffic insurance scheme was simulated with a monthly participation bonus that was reduced by a non-linear speeding penalty. Actual speed was monitored by a GPS in-vehicle device. Participating drivers were randomly assigned into two-by two treatment groups, with different participation-bonus and penalty levels, and two control groups (high and low participation bonus, but no penalty). A third control group consists of drivers with the same technical equipment who did not participate but whose driving could be monitored. We evaluate changes in behaviour from twelve-month differences in proportion of driving time per month that the car was exceeding the maximum allowed speed on the road. We find that the participating drivers significantly reduced severe speeding violations during the first experiment month, while in the second experiment month, after having received feedback reports with an account of earned payments, only those participating subjects that were given a speeding penalty reduced severe speed violations. We find no significant effects from the size of the participation bonus (high vs. low), or the size of the penalty (high vs. low rate).Traffic insurance; traffic safety; Intelligent Transport Systems; ITS; Intelligent Speed Adaptation; ISA

CRISIS: EFFECTS IN THE ECONOMIC AND SOCIAL FIELD

This paper aims to examine how issues relating to the economic crisis on society nationally and internationally. It reflects its own analysis based on own research aspect based on several macroeconomic indicators. To this end I studied the relationship between financial crisis – the economic crisis – social crisis – political crisis.crisis, direct investment, economic growth rate, unemployment rate

A Tale of Two Stadiums: Comparing the Economic Impact of Chicago’s Wrigley Field and U.S. Cellular Field

Supporters of sports stadium construction often defend taxpayer subsidies for stadiums by suggesting that sports infrastructure can serve as an anchor for local economic redevelopment. Have such promises of economic rejuvenation been realized? The City of Chicago provides an interesting case study on how a new stadium, U. S. Cellular Field, has been integrated into its southside neighborhood in a way that may well have limited local economic activity. This economic outcome stands in stark contrast to Wrigley Field in northern Chicago which continues to experience a synergistic commercial relationship with its neighborhood.sports, sports, stadiums, development, baseball, Chicago, economic impact

ETHICS IN ECONOMIC FIELD RESEARCH or SHORT STORIES OF DEPENDENCY

The paper is an attempt to use the idea of reflexivity in order to organise and set �ready for answers� the ethical issues which have arisen at the very beginning of the field research (on a topic in the economics area) and have been anticipated for later stages of the research project. While at the beginning, the ethical issues were well covered under the appearance of �everyday� research practical problems to be resolved, the interaction with research participants revealed the theoretical depth that those same issue can have and the extend to which they might affect the research project itself. The paper as well as the issues are divided for analysis purposes, into three categories: the first deals with ethics concerning the terminology, vocabulary and narratives during or after field research; the second, discusses the ethical issues connected the interaction with participants, especially two issues: their acceptance to participate in the project and the information exchange; and the third part, discusses the cases where the researcher faces petitions for assistance in constructing something, that according to the research proposal, belongs to the object of the research.ethics, field research, reflexivity

EVALUATING AND GRADING THE ABILITY OF FUTURE ECONOMISTS TO WRITE IN A FOREIGN LANGUAGE

Communication in the economic field is based, to a large extent, on written documents, the only ones that are considered official in most countries of the world. Since the business market has become global, people activating in the economic field need demanalytic scoring, holistic scoring, communication, professional discourse

Growth and economic opportunities for women: literature review to inform the DFID-IDRC-Hewlett Foundation research program on women's economic empowerment, gender equality and growth in low income countries

This is a background paper for a new research programme on women's economic empowerment. It is a comprehensive literature review on the state of the field. Section 1 briefly discusses the global evidence on existing gender disparities in employment, wages, business opportunities, and the care economy. Sections 2, 3 and 4 describe the existing knowledge in the programme's central themes - constraints to women's economic empowerment, and the links between economic empowerment and growth - followed by research gaps and questions

A mean-field game economic growth model

Here, we examine a mean-field game (MFG) that models the economic growth of a population of non-cooperative rational agents. In this MFG, agents are described by two state variables - the capital and consumer goods they own. Each agent seeks to maximize their utility by taking into account statistical data of the total population. The individual actions drive the evolution of the players, and a market-clearing condition determines the relative price of capital and consumer goods. We study the existence and uniqueness of optimal strategies of the agents and develop numerical methods to compute these strategies and the equilibrium price