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on Neuroeconomics |
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Issue of 2015‒09‒11
three papers chosen by |
| By: | Nobuyuki Hanaki (Université Nice Sophia Antipolis; GREDEG-CNRS; IUF); Eizo Akiyama (University of Tsukuba, Japan); Yukihiko Funaki (Waseda University, Japan); Ryuichiro Ishikawa (University of Tsukuba, Japan) |
| Abstract: | How does known diversity in cognitive ability among market participants in ufence market outcomes? We investigated this question by first measuring subjects' cognitive ability and categorizing them as 'H' type for those above median ability and 'L' type for those below median ability. We then constructed three kinds of markets with six traders each: 6H, 6L, and 3H3L. Subjects were informed of their own cognitive type and that of the others in their market. We found heterogeneous markets (3H3L) generated signicantly larger mispricing than homogeneous markets (6H or 6L). Thus, known diversity in cognitive ability among market participants impacts mispricing. |
| Keywords: | Cognitive ability, Heterogeneity, Mispricing, Experimental asset markets |
| JEL: | C90 D84 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2015-29&r=all |
| By: | Maria Paz Espinosa (University of the Basque Country); Enrique Fatas (University of East Anglia); Paloma Ubeda (University of the Basque Country) |
| Abstract: | Ethno-linguistic diversity has been empirically linked to low provision of public goods. We contribute to this literature analyzing diversity in a lab-in-the-field experiment in which we carefully control for ethno-linguistic diversity in two different bilingual societies, one with a much stronger identity conflict (the Basque Country) than the other (Valencia Country). In both locations, our participants come from different ethno- linguistic cultures (Catalan or Spanish, Basque or Spanish), and interact with other participants from their same background or a different one. We recruit participants using their mother tongue language, and study the effect of homogeneous (with no diversity) or mixed (with ethno-linguistic diversity) natural cultural identities in a nested public goods game with a local and a global public good. The game is constructed to eliminate any tension between efficiency and diversity; so, not contributing to the global (and efficient) public good can be interpreted as willingness to exclude the other group from the benefits of your contribution. Our results strongly support that diversity is strongly context dependent. While diversity in the Basque Country significantly reduces contributions to the global public good, and efficiency, it has no effect in the Valencia Country (if any, the effect is positive, but insignificant). We show that diversity destroys (reinforces) conditional cooperation in the Basque (Valencia) Country. While diversity is associated with overoptimistic empirical beliefs in Valencia, it significantly increases normative group discrimination in Basque Country. |
| Keywords: | natural identity, ethno-linguistic groups, group effects, norms, discrimination |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:uea:wcbess:15-14&r=all |
| By: | Lung Hung Chen; Chia-Huei Wu; Shouming Chen |
| Abstract: | Research on gratitude usually focus on how trait gratitude can contribute to higher subjective well-being, but rarely focus on the role of state gratitude in shaping one’s subjective well-being at a given moment. Focusing on intra-individual differences, the first aim of this study is to examine whether state gratitude will contribute to higher state life satisfaction. Nevertheless, state gratitude may not always contribute to higher state life satisfaction. The second aim of this study is to determinate that when ambivalence over emotional expression in a given moment becomes higher, the association between state gratitude and state life satisfaction will become weaker. Twenty-nine elite student athletes were recruited and completed weekly questionnaires measuring gratitude, life satisfaction, and ambivalence over emotional expression across 10 weeks. Results of hierarchical linear modeling support hypotheses, showing that weekly gratitude positively predicted weekly life satisfaction, but this association was weaker when weekly ambivalence over emotional expression was higher than lower. Contributions to gratitude studies are discussed. |
| Keywords: | broaden-and-build theory; positive psychology; affect trait; altruism; emotional conflicts |
| JEL: | J50 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:59622&r=all |