Economics, sociobiology and behavioral psychology on preferences

Economists have become increasingly interested in hypotheses from sociobiology as a source of inspiration for filling gaps in the economic model of behavior. To avoid borrowing eclectically and arbitrarily from neighboring disciplines, this paper attempts to outline in a systematic way the similarities and differences between the approaches taken in economics and sociobiology. In doing so, special attention is given to an empirical theory of preferences that is lacking in economics. Here, inspiration from sociobiology would seem to be particularly useful. The considerations in the paper suggest that sociobiological arguments may indeed be helpful, albeit at a very elementary level only. A more comprehensive theory cannot ignore the influences of innate learning mechanisms in higher living beings. An elaborated theory of preferences in economics will have to acknowledge and incorporate insights from behavioral psychology.     

The Value of Weather Information for E‐Commerce Operations

To be efficient, logistics operations in e‐commerce require warehousing and transportation resources to be aligned with sales. Customer orders must be fulfilled with short lead times to ensure high customer satisfaction, and the costly under‐utilization of workers must be avoided. To approach this ideal, forecasting order quantities with high accuracy is essential. Many drivers of online sales, including seasonality, special promotions and public holidays, are well known, and they have been frequently incorporated into forecasting approaches. However, the impact of weather on e‐commerce operations has not been rigorously analyzed. In this study, we integrate weather data into the sales forecasting of the largest European online fashion retailer. We find that sunshine, temperature, and rain have a significant impact on daily sales, particularly in the summer, on weekends, and on days with extreme weather. Using weather forecasts, we have significantly improved sales forecast accuracy. We find that including weather data in the sales forecast model can lead to fewer sales forecast errors, reducing them by, on average, 8.6% to 12.2% and up to 50.6% on summer weekends. In turn, the improvement in sales forecast accuracy has a measurable impact on logistics and warehousing operations. We quantify the value of incorporating weather forecasts in the planning process for the order fulfillment center workforce and show how their incorporation can be leveraged to reduce costs and increase performance. With a perfect information planning scenario, excess costs can be reduced by 11.6% compared with the cost reduction attainable with a baseline model that ignores weather information in workforce planning.     

中德婚姻市场供需情况的比较研究

本文从概念、形成机制、度量方法、后果及其解决途径等方面探讨了婚姻挤压问题 ,考虑到婚姻挤压对婚姻寿命、初婚人数及其性别差异的影响而创立了婚姻寿命指数与初婚挤压指数两指标 ,提出了婚姻市场类型的划分标准。通过对中德两国婚姻市场的历史与现状的考察 ,揭示了中德两国婚姻挤压产生的原因、类型、差异和未来的变化趋势 ,并对如何化解中国未来婚姻市场的供求矛盾提出了对策与建议     

Income inequality and risk taking: the impact of social comparison information

Theory and Decision - In contrast to the assumptions of standard economic theory, recent experimental evidence shows that the income of peers has a systematic impact on observed degrees of risk...     

How to measure and proxy permanent income: evidence from Germany and the U.S.

Permanent income (PI) is an enduring concept in the social sciences and is highly relevant to the study of inequality. Nevertheless, there has been insufficient progress in measuring PI. We calculate a novel measure of PI with the German Socio-Economic Panel (SOEP) and U.S. Panel Study of Income Dynamics (PSID). Advancing beyond prior approaches, we define PI as the logged average of 20+ years of post-tax and post-transfer (“post-fisc”) real equivalized household income. We then assess how well various household- and individual-based measures of economic resources proxy PI. In both datasets, post-fisc household income is the best proxy. One random year of post-fisc household income explains about half of the variation in PI, and 2–5 years explain the vast majority of the variation. One year of post-fisc HH income even predicts PI better than 20+ years of individual labor market earnings or long-term net worth. By contrast, earnings, wealth, occupation, and class are weaker and less cross-nationally reliable proxies for PI. We also present strategies for proxying PI when HH post-fisc income data are unavailable, and show how post-fisc HH income proxies PI over the life cycle. In sum, we develop a novel approach to PI, systematically assess proxies for PI, and inform the measurement of economic resources more generally.     

Potential for Flexibility in EC Countries

Abstract. There are two economic reasons for supporting the Internal Market Programme of the EC by social policies: the fust argument refers to welfare theory, the second to policies of distribution. First, it could be possible that an economic integration without social completion will lead to welfare losses. Therefore, it could be necessary to correct market forces or to support them respectively because, due to market imperfections, they do not provide the best possible use of productive facilities. Second, it cannot be excluded that level and structure of social provisions will not be accepted because of superior aspects of policies of distribution. Market results could miss the aim of adjusting life and working conditions within the EC and developing them further. These two arguments mentioned above should be followed up in the discussion of the pros and cons of a harmonization of social systems in the EC. For the purposes of this paper these. rather fundamental considerations are applied to the following concrete items: dismissal protection, non-standard forms of employment, and working hours. These regulations influence numerical flexibility of enterprises, i.e. the possibilities of quantitative adjustments in staff use. The steadily growing competition in Europe will also increase the importance of flexibility potentials of enterprises in the different countries as a relevant factor for enterprise location. Extensive flexibility restrictions could prove to be competitive disadvantage in view of countries with more possibilities of flexibilization.Therefore, after the comparison of flexibility potentials in the EC-countries the implications for European laws (key-word: Social Charter) are to be discussed.     

Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory

Journal of Risk and Uncertainty - Prenatal androgens have organizational effects on brain and endocrine system development, which may have a partial impact on economic decisions. Numerous studies...     

Environmental Influences on Well-Being: A Dyadic Latent Panel Analysis of Spousal Similarity

This article uses dyadic latent panel analysis (DLPA) to examine environmental influences on well-being. DLPA requires longitudinal dyadic data. It decomposes the observed variance of both members of a dyad into a trait, state, and an error component. Furthermore, state variance is decomposed into initial and new state variance. Total observed similarity between members of a dyad is decomposed into trait similarity, initial state similarity, new state similarity, and error similarity. Dyadic similarity in new state variance reveals that both members of a dyad change in the same direction, which is a strong indication of environmental effects. DLPA is used to examine environmental influences on life satisfaction and domain satisfaction based on 22 annual assessments of married couples in the German Socio-Economic Panel Study (N’s = 607–740). The results show high similarity in new state variance for life satisfaction and objectively identical domains (household income, housing), and less similarity for objectively less similar domains (recreation, health). This finding provides strong evidence for environmental influences on well-being. In addition, the results show high trait similarity. The implications of the latter finding for interpretation of behavioral genetics studies of well-being are discussed.     

Assessing physical activity in inpatient rehabilitation—sensor-based validation of the PAIR

Increased physical activity is positively associated with better health in community-dwelling older persons. It is unclear whether physical activity also influences success of inpatient rehabilitation. For the assessment of physical activity in inpatient rehabilitation the Physical Activity in Inpatient Rehabilitation Assessment (PAIR), a short questionnaire based on five questions, was developed and preliminary validated. In this study, the PAIR was validated against a sensor-based physical activity measurement. Seventy functionally impaired and cognitively mostly intact patients of a German geriatric inpatient rehabilitation clinic who had undergone hip surgery (n?=?62 women, median age?=?83 years) participated. Physical activity was measured using the PAIR and a sensor-based activity monitor (Physilog ®; BioAGM, CH). Assessments were conducted at admission (T1) and 2 weeks later (T2) during the rehabilitation process. To assess concurrent and predictive validity, Spearman correlations and linear regression models were calculated using sensor-based walking activity and uptime activity (walking and standing time) as dependent variables. Criterion-related concurrent validity using physical activity sensors was weak to moderate. Correlations were slightly higher at T2 (r?=?0.45-0.53) than at T1 (r?=?0.44-0.46). The objectively measured variance of physical activity, explained by the PAIR, ranged from 25 to 43 %. PAIR activity scores and sensor-based walking or total activity increased in a dose-dependent manner, confirming the scoring system of the PAIR. The application time was usually less than 2 min. The validity of the PAIR is weak to moderate when compared to a sensor-based activity monitor and comparable to existing physical activity assessments for community-dwelling older adults.