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on Neuroeconomics |
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Issue of 2021‒08‒23
eleven papers chosen by |
| By: | Alderotti, Giammarco; Rapallini, Chiara; Traverso, Silvio |
| Abstract: | The past two decades have witnessed an increasing interest in the relationship between personality and labor market outcomes, as well as the emergence of the Five-Factor Model as the reference framework for the study of personality. In this paper, we provide the first meta-analytical review of the empirical literature on the association between personal earnings and the Big Five personality traits. The analysis combines the results of 63 peer-reviewed articles published between 2001-2020, from which we retrieved 896 partial effect sizes. Overall, the primary literature provides robust support for a positive association between personal earnings and the traits of Openness, Conscientiousness, and Extraversion, while simultaneously revealing a negative and significant association between earnings and the traits of Agreeableness and Neuroticism. We find no evidence of a substantial publication bias. Meta-regression estimates suggest that Openness and Conscientiousness are positively associated with earnings even when primary researchers control for individual cognitive abilities and educational attainments. Similarly, the studies that includes labor market control variables exhibit weaker associations between earnings and Extraversion and Agreeableness. The results of the primary studies seem unaffected by the time at which the Big Five are measured, as well as by the scale and number of inventory items. Meta-regression estimates suggest that the results of the primary literature are not stable across cultures and gender, and that the ranking and academic field of the journal matter. |
| Keywords: | Big Five personality traits,earnings,meta-analysis |
| JEL: | J24 D91 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:902r&r= |
| By: | Cobb-Clark, Deborah A. (University of Sydney); Dahmann, Sarah C. (University of Melbourne); Kamhöfer, Daniel A. (Düsseldorf Institute for Competition Economics (DICE)); Schildberg-Hörisch, Hannah (Heinrich Heine University Düsseldorf) |
| Abstract: | We propose a broadly applicable empirical approach to classify individuals as time-consistent versus naïve or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that most people are at least partly aware of their limited self-control. Compared to naïfs, sophisticates have higher IQs, better educated parents, and are more likely to take up commitment devices. Accounting for both the level and awareness of self-control limitations has predictive power beyond one-dimensional notions of self-control that neglect awareness. Importantly, sophistication fully compensates for self-control problems when choices involve immediate costs and later benefits. Raising people's awareness of their own self-control limitations may thus assist them in overcoming any adverse consequences. |
| Keywords: | self-control, sophistication, naïveté, commitment devices, present bias |
| JEL: | D91 D01 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14609&r= |
| By: | Mundaca, Enrique A.; Lazzaro-Salazar, Mariana; Pujol-Cols, Lucas J.; Muñoz-Quezada, María Teresa |
| Abstract: | A bidimensional (cognitive-emotional) novel survey, the Emotional and Cognitive Scale of the Human-Nature Relationship (ECS-HNR), was designed and validated to measure Ecological Awareness (EAW) and Ecological Affectiveness (EAF) as vital aspects of the human-nature relationship. Data were collected in Chile between July and October 2019 from 474 participants ranging between 6 and 85 years old, using the snowball sampling technique. To examine the properties of the ECS-HNR we analyzed the results in terms of its content validity, reliability, factor structure, convergent validity, and discriminant validity. The ECS-HNR comprises 24 items divided into two subscales with three subscales each (EAF: Empathy, Enjoyment, and Connectedness; EAW: Understanding, Appreciation, and Perception). The results demonstrated that the ECS-HNR is a reliable instrument, as items (the two scales and their subscales) exhibited an acceptable internal consistency. Our findings demonstrate that the ECS-HNR allows the integration of both dimensions of the human–nature relationship and is appropriate to evaluate attitudes and feelings toward nature. |
| Keywords: | Vinculación Hombre-Naturaleza; |
| Date: | 2021–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:3504&r= |
| By: | Jessica Harding; Philip Gleason; Nikki Aikens; Lizabeth Malone; Louisa Tarullo; Judy Cannon; Kathryn Cronquist |
| Abstract: | This brief describes the gains children made across a year of Head Start for children returning for their second year of Head Start and children entering their first year, using nationally representative data from the Head Start Family and Child Experiences Survey 2014-2018 (FACES 2014). |
| Keywords: | Head Start children, duration, early care and education, cognitive skills, language skills, two years |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:792bc87420494e559b60f763ceb59889&r= |
| By: | Bartos, Vojtech (University of Munich); Bauer, Michal (Charles University, Prague); Chytilová, Julie (Charles University, Prague); Levely, Ian (King's College London) |
| Abstract: | We test whether an environment of poverty affects time preferences through purely psychological channels. We measured discount rates among farmers in Uganda who made decisions about when to enjoy entertainment instead of working. To circumvent the role of economic constraints, we experimentally induced thoughts about poverty-related problems, using priming techniques. We find that thinking about poverty increases the preference to consume entertainment early and to delay work. Using monitoring tools similar to eye tracking, a novel feature for this subject pool, we show that this effect is unlikely to be driven by less careful decision-making processes. |
| Keywords: | poverty, scarcity, time preferences, self-control, inattention |
| JEL: | C93 D91 O12 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14607&r= |
| By: | Nguyen, Minh-Hoang; Le, Tam-Tri |
| Abstract: | Bayesian Mindsponge Framework (BMF, also known as Bayesian Mindsponge analytical approach) is an analytical approach that employs the mindsponge information-processing mechanism and Bayesian analysis (e.g. bayesvl package) as each other’s complement to conduct cognitive and psychological research. |
| Date: | 2021–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:b4uny&r= |
| By: | Li, Jianghong; Lair, Hannah Kenyon; Schäfer, Jakob; Kendall, Garth |
| Abstract: | Increasing evidence shows that parents’ work schedules in evenings/nights have a negative impact on children's physical and mental health. Few studies examine adolescents and joint parental work schedules. We investigate the association between joint parental work schedules and adolescent mental health and test parental time spent with adolescents and parenting style as potential mediators. We analysed one wave of the Raine Study data, focusing on adolescents who were followed up at ages 16-17 and lived in dual-earner households (N=607). Adolescent mental health is measured in the Child Behavioural Checklist (morbidity, internalising behaviour, externalising behaviour, anxiety/depression). Parental work schedules were defined as: both parents work standard daytime schedules (reference), both parents work evening/night/irregular shifts, fathers work evening/night/irregular shifts - mother daytime schedule, mothers work evening/night/irregular shifts - father daytime schedule. Compared to the reference group, when one or both parents worked evening/night/irregular schedules, there was a significant increase in total morbidity, externalising behaviour and anxiety/depression in adolescents. Fathers' evening/night/irregular schedule was associated with a significant increase in total morbidity and externalising behaviour. Inconsistent parenting partially mediated this association. Mothers' evening/night/irregular schedule was not associated with adolescent CBCL scores. Our findings underscore the importance of fathers' work-family balance for adolescent mental health. |
| Date: | 2021–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:pa7hz&r= |
| By: | Syngjoo Choi; Byung-Yeon Kim; Jungmin Lee; Sokbae Lee |
| Abstract: | This paper investigates the development of competitiveness by comparing three Korean groups in South Korea, born and raised in three countries with distinct institutional environments: South Korea, North Korea, and China. Results based on laboratory experiments show that North Korean refugees are significantly less competitive than South Koreans or Korean-Chinese immigrants. Furthermore, analyses through the lens of a choice model with probability weighting suggest that lower cognitive ability may be associated with lower levels of expected performance, more pessimistic subject beliefs and greater aversion to competition. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2108.08097&r= |
| By: | Santiago Hermo; Miika M. Päällysaho; David G. Seim; Jesse M. Shapiro |
| Abstract: | A large literature in cognitive science studies the puzzling "Flynn effect" of rising fluid intelligence (reasoning skill) in rich countries. We develop an economic model in which a cohort's mix of skills is determined by different skills' relative returns in the labor market and by the technology for producing skills. We estimate the model using administrative data from Sweden. Combining data from exams taken at military enlistment with earnings records from the tax register, we document an increase in the relative labor market return to logical reasoning skill as compared to vocabulary knowledge. The estimated model implies that changes in labor market returns explain 36 percent of the measured increase in reasoning skill, and can also explain the decline in knowledge. An original survey of parents, an analysis of trends in school curricula, and an analysis of occupational characteristics show evidence of increasing emphasis on reasoning as compared to knowledge. |
| JEL: | J24 J31 O52 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29135&r= |
| By: | von Grafenstein, Liza (University of Göttingen); Kumar, Abhijeet (University of Göttingen); Kumar, Santosh (Sam Houston State University); Vollmer, Sebastian (University of Goettingen) |
| Abstract: | Long-term follow-up of early childhood health interventions is important for human capital accumulation. We provide experimental evidence on child health and human capital outcomes from the longer-term follow-up of a school-based nutrition intervention in India. Using panel data, we examine the effectiveness of the use of iron and iodine fortified salt in school lunches to reduce anemia among school children. After four years of treatment, treated children, on average, have higher hemoglobin levels and a lower likelihood of anemia relative to the control group. Interestingly, the intervention did not have any impact on cognitive and educational outcomes. |
| Keywords: | anemia, children, double-fortified salt, cognition, mid-day meal, India |
| JEL: | C93 I15 I18 O12 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14627&r= |
| By: | Bigoni, Maria (University of Bologna); Dragone, Davide (University of Bologna); Luchini, Stéphane (Aix-Marseille University); Prati, Alberto (Aix-Marseille University) |
| Abstract: | We study time preferences by means of a longitudinal lab experiment involving both monetary and non-monetary rewards (leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without imposing any structural assumption on the instantaneous utility, intertemporal utility or the discounting functions. We find that most people prefer to anticipate monetary rewards (positive time preferences for money), but they delay non-monetary rewards (negative time preferences for leisure). These results cannot be explained by personal timetables and heterogeneous preferences only. They invite to reconsider the psychological interpretation of the discount factor, and suggest that the assumption that discounting is consistent across domains can lead to non-negligible prediction errors in models involving non-monetary decisions, such as labor supply models. |
| Keywords: | consistency across domains, negative discounting, laboratory experiment, non-monetary rewards |
| JEL: | C91 D01 D91 J22 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14590&r= |