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on Neuroeconomics |
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Issue of 2018‒07‒23
seven papers chosen by |
| By: | Alvi, Mohsin; Mirza, Mohammad Haris; Ikram, Midra; Khoso, Ameer Bux; Mukhtar, Amber |
| Abstract: | Historically, psychological researches on emotion were focused more on negative emotions. Recently, researchers have directed their attention towards positive emotion because of positive emotions is in crises throughout the globe (Fredrickson et al, 2003). So, it is an emerging field of study, many areas of which are under developed. The present research is aimed at exploring two of such areas: gender and age differences in positive emotions. Because of the suggested importance of studying discrete units of positive emotion, only one emotion i.e. joy was selected for the study. Dispositional Positive Emotion Scale-Joy sub scale was administered on 479 participants (331 men, 148 women), age ranging between 20 and 49. Following two hypotheses were generated: first, women feel lesser joy than men; and second, intensity of joy feeling varies with age. The results were consistent with the first hypothesis. For the second hypothesis, no significant differences are found in the feeling of joy among people belonging to different age groups. |
| Keywords: | Dispositional Positive Emotion Scale (DPES), Gender, Age, Independent Sample T-test, Anova |
| JEL: | A14 D03 M5 Y1 Z1 |
| Date: | 2017–09–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87367&r=neu |
| By: | Bénédicte H. Apouey (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique); Isabelle Chort (UPPA - Université de Pau et des Pays de l'Adour) |
| Abstract: | This study examines how house prices influence cognitive functioning for individuals aged 50+ in Europe. Using data from the Survey of Health, Ageing and Retirement (SHARE) between 2004 and 2015, we compute the median house price for each region-year, using individual self-reported house values. Cognitive scores capture either fluid intelligence (numeracy, memory) or a mix of fluid and crystallized intelligences (verbal fluency). Compared with the previous literature, we allow housing market fluctuations to have different effects during episodes of price increases and decreases, and we study owners with a mortgage, owners without a mortgage, and tenants separately. Findings indicate that house price booms do not systematically improve cognitive health outcomes: for outright owners and tenants, a rise in prices correlates with a decrease in fluid intelligence. For outright owners, this result is partly explained by increased alcohol consumption, and is also related to stronger feelings of guilt and irritability, consistent with aversion to advantageous inequality. Findings also show asymmetry in the effects of price booms and busts: indeed, for mortgaged owners, both price increase and decrease episodes have a positive impact on cognitive outcomes. We argue that during the crisis the beneficial impact of price busts may have been driven by the decline in interest rates, which reduced the debt burden of households with a variable rate mortgage. |
| Keywords: | House prices,Wealth,Cognitive functioning,Health,Older Europeans,Europe,SHARE |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01815692&r=neu |
| By: | Hilger, Anne (Paris School of Economics); Nordman, Christophe Jalil (IRD, DIAL, Paris-Dauphine); Sarr, Leopold (World Bank) |
| Abstract: | This paper uses a novel matched employer-employee data set representing the formal sector in Bangladesh to provide descriptive evidence of both the relative importance of cognitive and non-cognitive skills in this part of the labor market and the interplay between skills and hiring channels in determining wages. While cognitive skills (literacy, a learning outcome) affect wages only by enabling workers to use formal hiring channels, they have no additional wage return. Non-cognitive skills, on the other hand, do not affect hiring channels, but they do enjoy a positive wage return. This wage return differs by hiring channel: those hired through formal channels benefit from higher returns to openness to experience, but lower returns to conscientiousness and hostile attribution bias. Those hired through networks enjoy higher wages for higher levels of emotional stability, but they are also punished for higher hostile attribution bias. This is in line with different occupational levels being hired predominantly through one channel or the other. We provide suggestive evidence that employers might use hiring channels differently, depending on what skill they deem important: employers valuing communication skills, a skill that could arguably be observed during selection interviews, are associated with a larger within-firm wage gap between formal and network hires, while the importance of teamwork, a skill that is more difficult to observe at the hiring stage, is associated with a smaller wage gap. |
| Keywords: | cognitive skills, personality traits, networks, matched worker-firm data, Bangladesh |
| JEL: | J24 J31 J71 O12 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11578&r=neu |
| By: | Uta Bolt (University College London and Institute for Fiscal Studies); Eric French (University College London and Institute for Fiscal Studies); Jamie Hentall Maccuish (University College London); Cormac O’Dea (Yale University and Institute for Fiscal Studies) |
| Abstract: | Parental investments in children can take one of three broad forms: (1) Time investments during childhood and adolescence that aid child development, and in particular cognitive ability; (2) educational investments that improve school quality and hence educational outcomes; (3) cash investments in the form of inter vivos transfers and bequests. We develop a dynastic model of household decision-making with intergenerational altruism that nests a child production function, incorporates all three of these types of investments, and allows us to quantify their relative importance and estimate the strength of intergenerational altruism. Using British cohort data that follows individuals from birth to retirement, we ?nd that around 40% of di?erences in average lifetime income by paternal education are explained by ability at age 7, around 40% by subsequent divergence in ability and di?erent educational outcomes, and around 20% by inter vivos transfers and bequests received so far. |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:mrr:papers:wp379&r=neu |
| By: | Vachkov, Igor (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | he paper discusses different views on the essence of metaphorical, compares various definitions of metaphor, analyzes ways of its application in various areas of human activity. |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:061805&r=neu |
| By: | Niccodemi, Gianmaria (University of Groningen); Bijwaard, Govert (NIDI - Netherlands Interdisciplinary Demographic Institute) |
| Abstract: | Several studies have found a positive association between education and health. Confounding factors that a ect both education choices and health, such as (ob- served) parental background and (unobserved) intelligence, may play an important role in shaping this association. In this paper we estimate the impact of education on diseases in old age, accounting for this endogeneity. Our estimates are based on administrative data on men born in 1944–1947, who were examined for military service in the Netherlands between 1961–1965, linked to national death and medication use records. We assume medication use identifies diseases. We estimate a structural model, consisting of (i) an ordered probit model for the educational attainment, (ii) a Gompertz mortality model for survival up to old age, (iii) a probit model for medication use in old age and, (iv) a measurement system using IQ tests to identify latent intelligence. Educational choices, surviving up to old age and medication use all depend on observed individual factors and on latent intelligence. Based on the estimation results, we derive the impact of education on diseases in old age. Our empirical results reveal a strong effect of education on physical diseases, but low or no effect of education on depression and anxiety. |
| Keywords: | educational inequality, intelligence, medication use, structural equation model |
| JEL: | I14 I24 C35 C38 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11605&r=neu |
| By: | Yukio Koriyama (Department of Economics, Ecole Polytechnique - X - École polytechnique - CNRS - Centre National de la Recherche Scientifique); Ali Ozkes (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université - EHESS - École des hautes études en sciences sociales) |
| Abstract: | We study the implications of structural models of non-equilibrium thinking, in which players best respond while holding heterogeneous beliefs on the cognitive levels of others. We introduce an inclusive cognitive hierarchy model, in which players are capable of projecting the self to others in regard to their cognitive level. The model is tested in a laboratory experiment of collective decision-making, which supports inclusiveness. Our theoretical results show that inclusiveness is a key factor for asymptotic properties of deviations from equilibrium behavior. Asymptotic behavior can be categorized into three distinct types: naïve, Savage rational with inconsistent beliefs, and sophisticated. |
| Keywords: | collective decision-making,bounded rationality,cognitive hierarchy,information aggregation |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01822543&r=neu |