nep-neu New Economics Papers
on Neuroeconomics
Issue of 2021‒04‒19
four papers chosen by

  1. The Returns to Non-Cognitive Skills: A Meta-Analysis By Sofie Cabus; Joanna Napierala; Stephanie Carretero
  2. Attention, Recall and Purchase: Experimental Evidence on Online News and Advertising By Tommaso M. Valletti; André Veiga
  3. Cognitive and hormonal regulation of appetite for food presented in the olfactory and visual modalities By Rémi Janet; Arnaud Fournel; Mélodie Fouillen; Edmund Derrington; Brice Corgnet; Moustafa Bensafi; J.-C. Dreher
  4. Overconfident health workers provide lower quality healthcare By Kovacs, Roxanne J.; Lagarde, Mylene; Cairns, John

  1. By: Sofie Cabus (KU Leuven HIVA); Joanna Napierala (European Commission - JRC); Stephanie Carretero
    Abstract: This paper discusses the returns to non-cognitive skills based on results of a meta-analysis. The systematic literature review of articles published in the last decade and analysing labour market outcomes and non-cognitive skills allowed us to extract more than 300 estimates linking earnings and non-cognitive skills, most often measured by the Big Five inventory. The results of meta-analysis point to heterogeneity in the estimated signs and significance of a particular non-cognitive skill. We observe that conscientiousness and openness are two personality traits that bring higher earnings, while agreeableness and neuroticism (low emotional stability) are associated with receiving lower earnings. Some gender differences are also observed. Older and female participants seemed to benefit more from programmes targeted at developing non-cognitive skills than younger participants and men. However, there is a positive selection of female participants to enrol to programmes with better prospects (e.g. longer in duration).
    Keywords: Big Five, Meta-analysis, Non-cognitive skills, earnings, Programme effectiveness, Returns
    Date: 2021–04
  2. By: Tommaso M. Valletti; André Veiga
    Abstract: We conduct an experiment where subjects read online news articles and are shown ads for brands next to those articles. Using eye-tracking technology, we measure the attention that each individual devotes to each article and ad. Then, respondents choose between cash or vouchers for the brands advertised. Attention to ads is a predictor both of willingness-to-pay for brands, and brand recall. The main predictors of attention include the type of news and the match between individual political preferences and the media outlet.
    Keywords: online-advertising, experiments, attention, e-commerce, targeting
    JEL: M37 C91 L86
    Date: 2021
  3. By: Rémi Janet (emlyon business school); Arnaud Fournel; Mélodie Fouillen; Edmund Derrington; Brice Corgnet; Moustafa Bensafi; J.-C. Dreher
    Abstract: The ability to regulate appetite is essential to avoid food over-consumption. The desire for a particular food can be triggered by its odor before it is even seen. Using fMRI, we identify the neural systems modulated by cognitive regulation when experiencing appetizing food stimuli presented in both olfactory and visual modalities, while being hungry. Regulatory instruction modulated bids for food items and inhalation patterns. Distinct brain regions were observed for up and down appetite-regulation, respectively the dorsomedial prefrontal cortex (dmPFC) and dorsolateral PFC. Food valuation engaged the ventromedial PFC and bilateral striatum. Furthermore, we identified a neurobiological marker for successful appetite upregulation. Individuals with higher blood levels of ghrelin were better at exercising up-regulation, and engaged the dmPFC more. These findings characterize the neural circuitry regulating food consumption within the healthy population and highlight how cognitive regulation modulates olfactomotor measures of olfaction.
    Keywords: Cognitive Regulation,Neuroscience
    Date: 2021–04–15
  4. By: Kovacs, Roxanne J.; Lagarde, Mylene; Cairns, John
    Abstract: While a growing body of evidence suggests that healthcare workers in low and middle-income countries often provide poor quality of care, the reasons behind such low performance remain unclear. The literature on medical decision-making suggests that cognitive biases, or failures related to the way healthcare providers think, explain many diagnostic errors. This study investigates whether one cognitive bias, overconfidence, defined as the tendency to overestimate one's performance relative to others, is associated with the low quality of care provided in Senegal. We link survey data on the overconfidence of health workers to objective measures of the quality of care they provide to standardised patients – enumerators who pose as real patients and record details of the consultation. We find that about a third of providers are overconfident – meaning that they overestimate their own abilities relative to their peers. We then show that overconfident providers are 26% less likely to manage patients correctly and exert less effort in clinical practice. These results suggest that the low levels of quality of care observed in some settings could be partly explained by the cognitive biases of providers, such as overconfidence. Policies that encourage adequate supervision and feedback to healthcare workers might reduce such failures in clinical decision-making.
    Keywords: cognitive bias; medical decision making; overconfidence; overplacement; quality of care; Senegal; standardised patients
    JEL: D01 I10
    Date: 2020–01–01

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