Preference for Information and Dynamic Consistency

We provide necessary and sufficient conditions for a dynamically consistent agent always to prefer more informative signals (in single-agent problems). These conditions do not imply recursivity, reduction or independence. We provide a simple definition of dynamically consistent behavior, and we discuss whether an intrinsic information lover (say, an anxious person) is likely to be dynamically consistent.     

Patterns of practice: a reflection on the development of quantitative/mixed methodologies capturing everyday life related to water consumption in the UK

There is a growing body of research arguing the relevance of practice approaches to understand resource consumption, and to highlight alternative pathways to sustainability. These practice approaches offer an alternative conceptualisation of demand and have been demonstrated largely by qualitative research, particularly in the work on water and energy consumption in the home. However, these historical narratives and qualitative research have not, to date, lead to the development of quantitative or mixed methodologies that could potentially reflect the diversity of performances of practice across populations in a more systematic way. This paper reflects, critically, on one such attempt to scale a practice-based perspective into a quantitative survey on water consumption and practice in homes in the south and South-East of England. The use of quantitative and mixed methodology has substantial potential – from translating practice-based research to policy; developing indictors to track patterns of practices as they change over time; and the exploration of methodologies that reflect the bundling and coordination of practices associated with water use inside and outside the home. The benefits and utility of such a methodological approach are highlighted as cautions and future research directions.     

基于地方政府行为的信贷资源配置效率损失:一个理论分析框架

中国经济转轨的成功很大程度上要归功于自改革开放初期就推行的分权式改革.然而下放权利造就了既得利益者,地方政府为了保护既得利益,便会制造更多的资源扭曲.中国就是在这种资源分配充满扭曲的情况下推进渐进的改革.在总结前人研究的基础上,构建地方政府的效用函数,以此展开地方政府行为分析.在分析金融制度漏洞和地方政府的行为激励与约束机制的基础上,讨论地方政府对信贷资源的干预手段和方式,构建了一个基于地方政府行为的信贷资源配置效率损失的理论分析框架.     

Suicide reports in the news – impact of Chief Coroner's call to open up suicide reporting

ABSTRACT

Aim: In 2010, the then Chief Coroner called for an opening up of suicide reporting in the press. We aimed to discover if this controversial action influenced the nature and extent of reporting of individual suicide cases in the newsprint media.

Method: A Factiva search of news reports from high circulation newspapers was conducted over four years. We counted the number of news reports of individual suicides and examined any mention of demographics, methods, location and contributing factors.

Results: We retrieved 291 individual suicide reports, 161 before and 130 after the Chief Coroners’ call. Reporting was more detailed after the call, with increased reporting of demographics, contributing factors and methods but less reporting of location. Most of these differences did not reach statistical significance.

Conclusion: The press did not appear to take the action of the Chief Coroner as a licence to report more frequently on individual suicide cases.     

Probability weighting for losses and for gains among smallholder farmers in Uganda

Theory and Decision - Probability weighting is a marked feature of decision-making under risk. For poor people in rural areas of developing countries, how probabilities are evaluated matters for...     

Is There a “Pessimistic” Bias in Individual Beliefs? Evidence from a Simple Survey

It is an important issue for economic and finance applications to determine whether individuals exhibit a behavioral bias toward pessimism in their beliefs, in a lottery or more generally in an investment opportunities framework. In this paper, we analyze the answers of a sample of 1,540 individuals to the following question “Imagine that a coin will be flipped 10 times. Each time, if heads, you win $10\texttt{C}\!\!\!\rule[2.3pt]{.4em}{.3pt}\!\!\rule[3.3pt]{.4em}{.3pt}It is an important issue for economic and finance applications to determine whether individuals exhibit a behavioral bias toward pessimism in their beliefs, in a lottery or more generally in an investment opportunities framework. In this paper, we analyze the answers of a sample of 1,540 individuals to the following question “Imagine that a coin will be flipped 10 times. Each time, if heads, you win . How many times do you think that you will win?” The average answer is surprisingly about 3.9 which is below the average 5, and we interpret this as a pessimistic bias. We find that women are more “pessimistic” than men, as are old people relative to young. We also analyze how our notion of pessimism is related to more general notions of pessimism previously introduced in psychology.     

Time Preferences and Job Search: Evidence from France

Abstract. Increasing impatience reduces search efforts of unemployed job seekers and therefore decreases the exit rate from unemployment. Also, impatience reduces reservation wage and increases the exit rate. To determine the overall effect of impatience on the exit rate from unemployment, we distinguish between exponential and hyperbolic time preferences. Search effort dominates the reservation wage and decreases the exit rate from unemployment if individuals have hyperbolic, rather than exponential, preferences. Using the French sample of the European Household Panel Survey, we found that search effort has a strong effect on the duration of unemployment, whereas the reservation wage is not significant. This result shows that the job seekers have hyperbolic preferences. Hyperbolic preferences affect problems associated with job search and policies aimed at reducing unemployment.     

Learning from international business affiliates: developing resource-based learning capacity through networks and knowledge acquisition

Resource-based learning capacity (RBLC) is an organization's specific resources – both human and tangible – that can be organized to enhance learning processes. This study develops and tests a model that examines the relationship between the learning efforts of focal firms from their international business affiliates (IBAs) – organizations located outside the focal firm's domestic market with whom the focal firm has a relationship – and the focal firms' RBLC. This learning process refers to the transfer of knowledge from the IBA to the focal firm. Results indicate that while learning effectiveness positively influences the RBLC of the focal firm, learning efficiency has a negative impact on RBLC. The IBA's home country network centrality and the tie strength between the focal organization and the IBA are found to influence learning effectiveness positively. Tie strength also enhances learning efficiency. Finally, the findings indicate that the IBA's home country network centrality enhances the strength of the ties between the focal organization and its IBA.     

GENDER AND THE CONSULTING ACADEMIC ECONOMIST

We surveyed academic economists on their experiences and perceptions of legal consulting. Nearly two-thirds have consulting experience and 40% have consulted within the last 5 years. Base hourly rates average $244, with a median of $200. Women are less likely than men to have served as consultants and charge lower rates than comparable men, but there are few differences by gender in willingness to consult. Women report substantially more negative bias and are less likely to consult in complex cases or to have a high profile role in litigation. (JEL J44, J71, K41)