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on Neuroeconomics |
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Issue of 2009‒08‒30
two papers chosen by |
| By: | Fioretti, Guido |
| Abstract: | This paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers. A substantial part of this paper is devoted to utility maximization and its application to collective decision-making, Game Theory. However, the pitfalls of utility maximization are thoroughly discussed, and the radically alternative approach of viewing decision-making as constructing narratives is presented with its emerging computational tools. |
| Keywords: | Interactions; Collective Decision-Making |
| JEL: | C79 D79 |
| Date: | 2009–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:16976&r=neu |
| By: | Todd Schoellman |
| Abstract: | This paper estimates the multi-dimensional human capital endowments of im¬migrants by characterizing their occupational decisions. This approach allows for estimation of physical skill and cognitive ability endowments, which are difficult to measure directly. Estimation implies that immigrants as a whole are abundant in cognitive ability and scarce in experience/training and communication skills. Counterfactual estimates of the wage impacts of immigration are skewed: the largest gain from preventing immigration is 3.2% higher wages, but the largest loss is 0.3% lower wages. Crowding of immigrants into select occupations plays a minor role in explain¬ing these impacts; occupations’ skill attributes explain the bulk. |
| Keywords: | Human Capital, Migration. |
| JEL: | F22 J24 |
| Date: | 2009–08–19 |
| URL: | http://d.repec.org/n?u=RePEc:eei:rpaper:eeri_rp_2009_19&r=neu |