New Economics Papers
on Neuroeconomics
Issue of 2012‒07‒08
three papers chosen by

  1. Advantages of Cognitive Limitations By Yaakov Kareev
  2. Interactive and Moral Reasoning: A Comparative Study of Response Times By Pablo Branas-Garza; Debrah Meloso; Luis Miller
  3. The relative importance of adolescent skills and behaviors for adult earnings: A cross-national study By Kathryn Duckworth; Greg J. Duncan; Katja Kokko; Anna-Liisa Lyyra; Molly Metzger; Sharon Simonton

  1. By: Yaakov Kareev
    Abstract: Being a product of evolutionary pressures, it would not be surprising to find that what seems to be a limitation of the cognitive system is actually a fine-tuned compromise between a set of competing needs. This thesis is demonstrated using the case of the limited capacity of short-term memory, which is often regarded as the prime example of a cognitive limitation.
    Date: 2012–06
  2. By: Pablo Branas-Garza; Debrah Meloso; Luis Miller
    Abstract: We use response time (RT) and behavioral data from two different but related games to test the hypothesis that individuals use introspection when confronted with a new strategic situation. Our results confirm that the need to reflect about the possible behavior of the other player (interactive thought) has an important role in the mental processes present in strategic interactions. We also find that players with longer response times have distributions of behavior that are more dispersed than for faster players. This suggests that the longest RTs across games correspond to thought dedicated to the resolution of moral dilemmas and not to guessing the likely behavior of other players in order to maximize own payoff.
    Date: 2012
  3. By: Kathryn Duckworth (Institute of Education, University of London, 20 Bedford Way, London WC1H 0AL, UK.); Greg J. Duncan (University of California, Irvine, 2056 Education, Mail Code: 5500, Irvine, CA, 92697.); Katja Kokko (Department of Psychology, P.O. Box 35, FI-40014 University of Jyvaskyla.); Anna-Liisa Lyyra (Department of Psychology, P.O. Box 35, FI-40014 University of Jyvaskyla.); Molly Metzger (Northwestern University, 626 Library Place, Evanston, IL 60208.); Sharon Simonton (University of Michigan, Institute for Social Research, 426 Thompson Street, Ann Arbor, MI.)
    Abstract: Seeking convergent findings in five data sets from four countries, we assess the relative importance of adolescent skills and behaviors for completed schooling and labor market success in adulthood. We provide a framework for classifying "noncognitive" skills and use data designed by developmental psychologists to provide reliable measures of a variety of achievement and behavioral skills assessed between ages 13 and 16. Results show that adolescent achievement, particularly math achievement, is a stronger predictor of completed schooling than measures of noncognitive skills. Achievement skills also out-predict noncognitive skills with regard to adult earnings, although the differences are not as striking.
    Keywords: adolescent skills, adolescent behaviors, adult earnings
    JEL: J24 J31 J45
    Date: 2012–06–28

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