nep-neu New Economics Papers
on Neuroeconomics
Issue of 2015‒01‒31
three papers chosen by

  1. More than outcomes: The role of self-image in other-regarding behavior By Astrid Matthey ; Tobias Regner
  2. Cognitive Economics By Miles S. Kimball
  3. Relationship between attention and choice making By Grebitus, Carola ; Seitz, Carolin

  1. By: Astrid Matthey (Max Planck Institute of Economics, Jena ); Tobias Regner (Max Planck Institute of Economics, Jena )
    Abstract: We conduct a modified dictator game in order to analyze the role self-image concerns play in other-regarding behavior. While we generally follow Konow (2000), a cognitive dissonance-based model of other-regarding behavior in dictator games, we relax one of its assumptions as we allow for individual heterogeneity among individuals' standards of behavior. Subjects' self-image, their belief regarding the average socially appropriate behavior of others and our proxies for the cognitive dissonance costs are positively correlated with the dictator game choices. We also find that subjects whose choices involve two psychologically inconsistent cognitions indeed report higher levels of experienced conflict and take more time for their decisions (our proxies for cognitive dissonance).
    Keywords: social preferences, other-regarding behavior, self-image, cognitive dissonance, social norms
    JEL: C72 C91 D03 D80
    Date: 2014–12–21
  2. By: Miles S. Kimball
    Abstract: Cognitive Economics is the economics of what is in people’s minds. It is a vibrant area of research (much of it within Behavioral Economics, Labor Economics and the Economics of Education) that brings into play novel types of data—especially novel types of survey data. Such data highlight the importance of heterogeneity across individuals and highlight thorny issues for Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called “bounded rationality”), which poses theoretical challenges that call for versatile approaches. Cognitive Economics brings a rich toolbox to the task of understanding a complex world.
    JEL: B4 D03 D6 G02 J24
    Date: 2015–01
  3. By: Grebitus, Carola ; Seitz, Carolin
    Abstract: Choice experiments are often used to determine consumers’ preferences and willingness to pay for product attributes. The design of choice experiments and its influence on measurement of consumer choices has received considerable attention. This study analyzes the influence of attention on the final choice by combining choice experiments with eye tracking. Furthermore, the role of choice set complexity on choice is investigated. Results show that in less complex designs the total gaze time, i.e., overall attention, influences the choice. In contrast, in more complex designs the time to first fixation, i.e., the first look at an attribute affects the choice.
    Keywords: Attention, Attributes, Bias, Choice experiments, Perception, Consumer/Household Economics,
    Date: 2014–08

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