14,232 research outputs found

    In My Own Words

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    A Structural Analysis of Disappointment Aversion in a Real Effort Competition

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    We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequential-move tournament. We predict that a disappointment averse agent, who is loss averse around her endogenous choice-acclimating expectations-based reference point, responds negatively to her rival's effort. We find significant evidence for this discouragement effect, and use the Method of Simulated Moments to estimate the strength of disappointment aversion on average and the heterogeneity in disappointment aversion across the population.Disappointment aversion, Loss aversion, Reference-dependent preferences, Reference point adjustment, Expectations, Tournament, Real effort experiment, Slider task

    A novel computerized real effort task based on sliders

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    In this note, we present a novel computerized real effort task based on moving sliders across a screen which overcomes many of the drawbacks of existing real effort tasks. The task was first developed and used by us in Gill and Prowse (forthcoming). We outline the design of our \slider task", describe its advantages compared to existing real effort tasks and provide a statistical analysis of the behavior of subjects undertaking the task. We believe that the task will prove valuable to researchers in designing future real effort experiments, and to this end we provide z-Tree code and guidance to assist researchers wishing to implement the slider task. Keywords; real effort task, slider task, design of laboratory experiments, learning and time effects, individual heterogeneity

    Fairness and desert in tournaments

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    We model the behavior of agents who care about receiving what they feel they deserve in a two-player rank-order tournament. Perceived entitlements are sensitive to how hard an agent has worked relative to her rival, and agents are loss averse around their meritocratically determined endogenous reference points. In a fair tournament sufficiently large desert concerns drive identical agents to push their effort levels apart in order to end up closer to their reference points on average. In an unfair tournament, where one agent is advantaged, the equilibrium is symmetric in the absence of desert, but asymmetric in the presence of desert. We find that desert concerns can undermine the standard conclusion that competition for a fixed supply of status is socially wasteful and explain why, when the distribution of output noise is fat-tailed, an employer might use a rank-order incentive scheme. Keywords; desert, equity, tournament, loss aversion, reference-dependent preferences, reference point, psychological game theory, status, relative performance evaluation

    UML Deficiencies from the perspective of Automatic Performance Model Generation

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    A discussion surrounding the use of UML for distributed system design

    The voluntary and community sector in Blyth Valley - developing a vision for the future

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    1. Sustainable Cities Research Institute has produced this report following research carried out on behalf of Blyth Valley Local Strategic Partnership. The research involved documentary analysis, case studies, and interviews and focus groups involving key players within the Voluntary and Community Sector (VCS). 2. The VCS is regarded as a significant contributor to the area’s economy and a key service delivery agent. Broadly defined, it contributes about 3.8% of regional GDP and employs an estimated 4.4% of the region’s workforce. An estimated 40,000 organisations are thought to be active in the region. 3. A number of external pressures influencing the sector were identified: the need to engage with LSPs and play a full part in other local and regional networks; the need to respond to changes in governance structures; funding changes such as the end of SRB funding; and the need for strong infrastructure organisations to support the sector and enhance communication systems. 4. Contributors identified the following strengths of Blyth Valley VCS: good partnership working; dedicated volunteers; flexibility and speed of response; valuable training provision; high quality community centres; excellent community links, including involving hard to reach people; value for money; and diversity within the sector. 5. However, it was thought that the following areas could be improved upon: the relationship with the LSP; some community buildings being underused; heavy reliance on a few key staff and volunteers; structural issues, which can result in duplication of resources; heavy demands in terms of time, resources and skills; inflexible monitoring systems; the problems of short-term funding; level of social economy activity; and the need to promote the sector. 6. A number of aspirations were identified for the sector: better funding arrangements and more long-term funding; developing the infrastructure by building more centres outside Blyth town; more centralised organisational support for VCS agencies; more social economy activity, and closer working between agencies. 7. The preferred option for the future of the VCS was the development of a new infrastructure organisation that can, where appropriate, incorporate the existing infrastructure organisations and provide support to the sector as a whole. It was thought that the option of establishing this new organisation as a Development Trust should be further explored. 8. The new organisation could act as a ‘One Stop Shop’ providing advice and support on fundraising, management, human resources, health and safety, insurance, and training. It could also lend weight to funding applications; help to develop more sustainable relationships with the Council and LSP, thus freeing the Community Development Team to develop its strategic role; enhance levels of co-ordination within the sector; and develop a dedicated research facility for the sector. 9. To minimise the range of concerns expressed about how the process of change is to be managed, it is recommended that the next step should be to commission a feasibility study that will explore the various options regarding the process of change - and the establishment of the new organisation - in greater detail. 10. This report will be launched at an event held for Blyth Valley VCS in Spring 2004
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