nep-neu New Economics Papers
on Neuroeconomics
Issue of 2026–04–13
five papers chosen by
Daniel Houser, George Mason University


  1. Thinking versus Doing: Cognitive Capacity, Decision Making and Medical Diagnosis By Benjamin R. Handel; Louis-Jonas Heizlsperger; Jonas Knecht; Jonathan T. Kolstad; Ulrike Malmendier; Filip Matějka
  2. Big Five Personality Traits and Locus of Control: Challenges and Uses in the Global South By Arnaud Natal; Christophe Jalil Nordman
  3. Learning How To Borrow in a Fintech World: Consumer Behavior When Search Costs Are (Near) Zero By Alex Günsberg; Camelia M. Kuhnen
  4. Imperfect Self-knowledge about Skills and Skill Mismatch By Daniel Goller; Enzo Brox; Stefan C. Wolter
  5. Rethinking and Structuring Inclusive Access: The Contribution of the InTerACT Framework to Public Action and Social Marketing By Marie-Laure Mourre

  1. By: Benjamin R. Handel; Louis-Jonas Heizlsperger; Jonas Knecht; Jonathan T. Kolstad; Ulrike Malmendier; Filip Matějka
    Abstract: We study how situational fluctuations in cognitive capacity shape behavior in high-stakes, real-time decision-making. Drawing on recent advances in behavioral economics that revolve around inattention, cognition and complexity, we show that cognitive load influences how physicians in emergency departments allocate mental effort and attention when making diagnostic and treatment decisions. We use quasi-random variation in patient-physician pairings, along with granular electronic medical record and audit-log data from many clinical interactions, to show that, under higher cognitive load, physicians substitute mental deliberation with more numerous but less precise diagnostic actions. Specifically, we document that higher load (i) increases the total number of orders of diagnostic tests (ii) reduces the use of targeted, but more uncommon tests (iii) increases the use of common tests and (iv) increases uncertainty in diagnostic beliefs. Cognitive load impacts downstream inpatient admission from the emergency department: a physician in the highest cognitive load decile increases admissions by 28% relative to the same physician in the lowest cognitive load decile, for the exact same kind of patient. These results offer novel field-based evidence on the dynamics of attention and belief formation, and shed light on how cognitive constraints shape diagnostic behavior in complex, real-world environments.
    JEL: D83 D91 I11
    Date: 2026–04
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:35034
  2. By: Arnaud Natal (BSE (University of Bordeaux, CNRS, and INRAE), French Institute of Pondicherry (IFP)); Christophe Jalil Nordman (IRD, LEDa-DIAL (IRD, CNRS, and PSL Research University), France, IFP (Pondicherry, India))
    Abstract: This paper examines the role of personality traits-specifically the Big Five and locus of control-in shaping economic outcomes in countries of the Global South. While such traits have been extensively studied in OECD contexts, they remain underexplored in Global South settings where most of the world’s population resides. The article reviews how personality traits are measured in diverse cultural contexts, their associations with economic outcomes, and the structural and individual-level factors that shape them. It also evaluates evidence on the effectiveness of interventions aimed at altering personality traits. Findings suggest that traits like conscientiousness, emotional stability, and an internal locus of control are positively linked to improved economic performance and adaptive behaviours, and that these traits are malleable to varying degrees. The paper concludes by highlighting policy implications and research priorities, including the need for longitudinal studies, culturally valid measurement tools, and integrated development strategies that address both psychological and structural determinants of well-being.
    Keywords: Personality traits, Human capital, Labour market, Programmes
    JEL: D14 D91 E24 J24 O12
    Date: 2026–03
    URL: https://d.repec.org/n?u=RePEc:dia:wpaper:dt202603
  3. By: Alex Günsberg; Camelia M. Kuhnen
    Abstract: Online loan marketplaces are changing consumer lending. Here we investigate consumer behavior in these markets with near-zero search costs. Using administrative data on 730, 000 applications, 750, 000 offers, and 200, 000 individuals, together with credit registry records, we document four facts. First, substantial within-applicant dispersion in offered terms makes search highly valuable. Second, marketplace nudges mitigate choice complexity. Third, applicants search significantly, applying repeatedly, asking for different terms, and rejecting offers, in ways consistent with their creditworthiness. Fourth, dynamic adverse selection constrains search, as lenders penalize repeat applicants. Our findings highlight trade-offs between informational gains from search, and reputational and cognitive costs.
    JEL: G21 G23 G41 G51
    Date: 2026–04
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:35024
  4. By: Daniel Goller; Enzo Brox; Stefan C. Wolter
    Abstract: Why do young people sort into poorly fitting occupations? This paper shows that imperfect self-knowledge about skills is an important source of skill mismatch at labor market entry. We use unique data from standardized professional aptitude tests linked to administrative records on educational trajectories and early labor market outcomes in Switzerland. The data allow us to observe objective skills and subjective skill beliefs for many productivity-relevant skills in a high-stakes setting. We document large differences among individuals in how well their beliefs align with their skills. Imperfect self-knowledge predicts misaligned occupational aspirations, higher realized skill mismatch, and a higher probability of dropout. Guided by a Roy-style model of occupational choice with imperfect self-knowledge, we interpret these findings as evidence that distorted self-assessments at the school-to-work transition contribute to the misallocation of talent.
    Keywords: Information frictions, Occupational choice, Skill mismatch, Self-knowledge
    JEL: D83 J24 J41
    Date: 2026–04
    URL: https://d.repec.org/n?u=RePEc:iso:educat:0253
  5. By: Marie-Laure Mourre (IRG - Institut de Recherche en Gestion - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12)
    Abstract: Contemporary transitions are confronting public action with mounting challenges in ensuring equitable access to essential resources and services. These transitions expose the limitations of public policies that remain largely centered on information provision, incentives, or individual responsibility, even though inequalities in access are deeply embedded in structural and institutional determinants. In this context, a central question concerns the forms of knowledge mobilized by public action and the kinds of collective intelligence required to govern complex, multi-actor, and territorially embedded systems. This article proposes repositioning social marketing as a form of systemic public action knowledge, oriented toward social justice and the transformation of access conditions. It adopts a critical perspective on individualistic approaches to social change and advances a conception of social marketing as a framework for the analysis, diagnosis, and design of territorial public policies in contexts of transition. The research question is as follows: how can social marketing be rethought and operationalized in order to address systemic access problems from a social justice perspective, while articulating the micro, meso, and macro levels of territorial public action? To answer this question, the article introduces the InTerACT framework (Territorial Inclusion and Transformative Community Action), conceived as a public action tool. InTerACT offers a mapping of access systems based on three interdependent levels: the micro level (individual capabilities, resources, and empowerment), the meso level (actor networks, coordination, trust, and local governance), and the macro level (institutions, infrastructures, rules, and public policy instruments). This systemic analysis is linked to three dimensions of justice—redistribution, recognition, and representation—which serve as guiding principles for public action in times of transition. Methodologically, the article is based on a conceptual synthesis derived from an iterative and integrative Conceptual Framework Analysis, complemented by an empirical illustration focusing on access to local food in a European urban context. This application draws on a triangulation of documentary, geographic, and qualitative data, and highlights systemic barriers such as institutional routines, informational frictions, coordination deficits, and logistical lock-ins. The main contribution of this work lies in the proposal of a unifying framework that renews the forms of knowledge available to public management in periods of transition. By linking social marketing, territorial governance, provisioning systems, and social justice, InTerACT provides conceptual and operational guidance for designing, steering, and evaluating public policies capable of durably improving equity of access, the legitimacy of public action, and the sustainability of transition trajectories.
    Abstract: Les transitions contemporaines confrontent l'action publique à des défis croissants d'accès équitable aux ressources et services essentiels. Ces transitions révèlent les limites de politiques publiques souvent centrées sur l'information, l'incitation ou la responsabilisation individuelle, alors même que les inégalités d'accès sont profondément enracinées dans des déterminants structurels et institutionnels. Dans ce contexte, se pose la question des savoirs mobilisés par l'action publique et des formes d'intelligence collective nécessaires pour piloter des systèmes complexes, multi-acteurs et territorialisés. Ce travail propose de repositionner le marketing social comme un savoir d'action publique systémique, orienté vers la justice sociale et la transformation des conditions d'accès. Il s'inscrit dans une perspective critique des approches individualistes du changement social et défend une conception du marketing social comme cadre d'analyse, de diagnostic et de conception des politiques publiques territoriales en contexte de transition. La question de recherche est la suivante : comment le marketing social peut-il être repensé et opérationnalisé pour traiter des problèmes d'accès systémiques dans une perspective de justice sociale, en articulant les niveaux micro, méso et macro de l'action publique territoriale ? Pour y répondre, l'article introduit le cadre InTerACT (Inclusion Territoriale et Action Communautaire Transformatrice)), conçu comme un outil de l'action publique. InTerACT propose une cartographie des systèmes d'accès fondée sur trois niveaux interdépendants : le niveau micro (capacités, ressources et empowerment des individus), le niveau méso (réseaux d'acteurs, coordination, confiance et gouvernance locale) et le niveau macro (institutions, infrastructures, règles et instruments de politique publique). Cette analyse systémique est articulée à trois dimensions de la justice — redistribution, reconnaissance et représentation — qui servent de principes d'orientation de l'action publique en transition. Méthodologiquement, l'article repose sur une synthèse conceptuelle issue d'une Conceptual Framework Analysis itérative et intégrative, complétée par une illustration empirique portant sur l'accès à l'alimentation locale dans un contexte urbain européen. Cette application mobilise une triangulation de données documentaires, géographiques et qualitatives, et met en évidence des barrières systémiques telles que les routines institutionnelles, les frictions informationnelles, les déficits de coordination ou les verrouillages logistiques. L'apport principal de ce travail réside dans la proposition d'un cadre unificateur qui renouvelle les savoirs mobilisables par le management public en période de transition. En reliant marketing social, gouvernance territoriale, systèmes de provision et justice sociale, InTerACT fournit des repères conceptuels et opérationnels pour concevoir, piloter et évaluer des politiques publiques capables d'améliorer durablement l'équité d'accès, la légitimité de l'action publique et la soutenabilité des trajectoires de transition.
    Date: 2026–05–28
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-05559276

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