The SGG risk elicitation task:Implementation and results

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Psychometric Tests, Decision-making; Lotteries; Risk aversion.

The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Financial support by Bancaixa (P1 1B2007‐14) and the Spanish Ministry of Science and Innovation (SEJ2008/04636/ECON). Georgantzís acknowledges financial support by the Junta de Andalucía (P07‐SEJ‐03155) and the hospitality at LEM, Paris II

The SGG risk elicitation task: implementation and results

This is a longer version of a companion paper accepted for publication in Psicothema, under the title: “The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes”.We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.Financial support by Bancaixa (P1 1B2007-14) and the Spanish Ministry of Science and Innovation (SEJ2008/04636/ECON). Georgantzís acknowledges financial support by the Junta de Andalucía (P07-SEJ-03155)

Financial Contagion in the Laboratory: Does Network Structure Matter?

We explore the role of interbank network structure and premature liquidation costs for the likelihood of financial contagions in a laboratory experiment. We consider complete versus incomplete networks of banks linked together by interbank deposits, and we further vary premature liquidation costs. Subjects play the role of depositors deciding whether or not to withdraw funds from their interconnected bank. We find that when liquidation costs are high, a complete network structure is significantly less vulnerable to financial contagions than an incomplete network structure. However, when liquidation costs are low, network structure is less important for the frequency of financial contagions

The impact of taxation and signposting on diet: an online field study with breakfast cereals and soft drinks

We present a large scale study where a nationally representative sample of 1000 participants were asked to make real purchases within an online supermarket platform. The study captured the effect of price changes, and of the signposting of such changes, for breakfast cereals and soft drinks. We find that such taxes are an effective means of altering food purchasing, with a 20% rate being sufficient to make a significant impact if (and only if) the tax is signposted. Signposting represents a complementary “nudge” policy that could enhance the impact of the tax, though its effectiveness depends on the product category

The impact of taxation and signposting on diet: an online field study with breakfast cereals and soft drinks

We present a large scale study where a nationally representative sample of 1,000 participants were asked to make real purchases within an online supermarket platform. The study captured the effect of price changes, and of the signposting of such changes, for breakfast cereals and soft drinks. We find that such taxes are an effective means of altering food purchasing, with a 20% rate being sufficient to make a significant impact. Signposting represents a complementary nudge policy that could enhance the impact of the tax without imposing severe welfare loss, though the effectiveness may depend on the product category

Stake size and the power of focal points in coordination games: Experimental evidence

We collect data from symmetric and asymmetric coordination games with a focal point and vary the stake size. The data show that in symmetric games coordination on the label-salient strategy increases with stake size. By contrast, in asymmetric games the coordination rates do not vary with stake size and are close to the levels predicted by both the mixed Nash equilibrium and the level-kmodel used by Crawford et al.(2008). These findings suggest that players’ mode of reasoning, and the extent to which it can be explained by team reasoning or a level-kmodel, crucially depends on the symmetry or asymmetry of the coordination payoffs

Explorations of the psychological component in economic decisions

Tesis Univ. Granada. Departamento de Teoría e Historia Económica. Leída el 28 de mayo de 201

Oil market dynamics: a Markow chain analysis

Presentación.Maldonado V., Fabio E.ArtículosFragilidad pragmática: ¿las tecnologías informáticas mitigan o se adaptan a deficiencias estructurales del subdesarrollo.Pragmatic fragility: do information technologies lessen or adapt to the structural deficiencies of developing countries?Ferrán, Carlos y Salim, RicardoThe division of labor and voluntary production.La división del trabajo y la producción voluntaria.Garzarelli, GiampaoloRelative importance of foreign and domestic shocks in the venezuelan economy.Importancia relativa de los shocks extranjeros y nacionales en la economía venezolana.Mora M., José U.Dinámica de participación en el mercado petrolero: un análisis de cadenas de Markov.Oil market dynamics: a Markow chain analysis.Parravano, Melanie y Pedauga, Luis EnriqueUn dispositivo gráfico Biplot para modelar relaciones entre dos conjuntos de variables.A Biplot graphical tool to model the relationships between two sets of variables.Vásquez, Maura; Ramírez, Guillermo; Camardiel, Alberto y Aluja, TomásLa venta relacional: una aplicación en tiendas de electrodomésticos minoristas en la ciudad de Santa Fe, Argentina.Relationship selling-application in household appliances retail stores in Santa Fe, Argentina.Costa, Walter Miguel e Küster, InésVariosÍndice [email protected] analíticosemestra

Oil market dynamics: A Markow chain analysis.

Since the seventies the Organization of Petroleum Exporting Countries (OPEC) has exercised a monopolistic power playing a dominant role in the oil market, but with varying degrees of influence. The aim of this investigation is to determine which variables explain changes in OPEC’s market power during the last three decades, based on the assumption that oil market participants compete to maximize their market share in time. In particular, the estimation model assumes that the market participation of the two principal oil exporting country groups (OPEC and Non OPEC) follows an Autoregressive First Order Markov Process, in which transition probabilities vary in time by means of a logistic smooth transition function. Results suggest that the level of real oil prices and economic cycles are relevant variables to explain changes in market share dynamic.Oil market, market power, Markov process, logistic smooth transition.