DOCSLIB.ORG

Economic Perspectives

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Economic Perspectives The Journal of The Journal of Economic Perspectives Economic Perspectives The Journal of Spring 2018, Volume 32, Number 2 Economic Perspectives Symposia Does the US Really Gain from Trade? Arnaud Costinot and Andrés Rodríguez-Clare, “The US Gains From Trade: Valuation Using the Demand for Foreign Factor Services” Robert C. Feenstra, “Alternative Sources of the Gains from International Trade: Variety, Creative Destruction, and Markups” Teresa C. Fort, Justin R. Pierce, and Peter K. Schott, “New Perspectives on the Decline of US Manufacturing Employment” Dani Rodrik, “What Do Trade Agreements Really Do?” A journal of the Risk in Economics and Psychology American Economic Association Ted O’Donoghue and Jason Somerville, “Modeling Risk Aversion in Economics” Thomas Dohmen, Armin Falk, David Huffman, and Uwe Sunde, “On the Relationship 32, Number 2 Spring 2018 Volume between Cognitive Ability and Risk Preference” Hannah Schildberg-Hörisch, “Are Risk Preferences Stable?” Rui Mata, Renato Frey, David Richter, Jürgen Schupp, and Ralph Hertwig, “Risk Preference: A View from Psychology” Articles Matthew Weinzierl, “Space, the Final Economic Frontier” Daron Acemoglu, “Dave Donaldson: Winner of the 2017 Clark Medal” Features Bruce Elmslie, “Retrospectives: Adam Smith’s Discovery of Trade Gravity” Recommendations for Further Reading Spring 2018 The American Economic Association The Journal of Correspondence relating to advertising, busi- Founded in 1885 ness matters, permission to quote, or change Economic Perspectives of address should be sent to the AEA business EXECUTIVE COMMITTEE office: [email protected]. Street ad- Elected Officers and Members dress: American Economic Association, 2014 A journal of the American Economic Association President Broadway, Suite 305, Nashville, TN 37203. For membership, subscriptions, or complimentary OLIVIER BLANCHARD, Peterson Institute for International Economics Editor JEP for your e-reader, go to the AEA website: President-elect Enrico Moretti, University of California at Berkeley http://www.aeaweb.org. Annual dues for regu- BEN S. BERNANKE, The Brookings Institution lar membership are $20.00, $30.00, or $40.00, depending on income; for an additional fee, you Vice Presidents Coeditors can receive this journal, or any of the Associa- SUSAN C. ATHEY, Stanford University Gordon Hanson, University of California at San Diego tion’s journals, in print. Change of address no- PINELOPI KOUJIANOU GOLDBERG, Yale University Mark Gertler, New York University tice must be received at least six weeks prior to Members the publication month. JOHN Y. CAMPBELL, Harvard University Associate Editors Copyright © 2018 by the American Eco nomic HILARY HOYNES, University of California at Berkeley Nicholas Bloom, Stanford University Association. Permission to make dig ital or hard NICHOLAS BLOOM, Stanford University Leah Boustan, Princeton University copies of part or all of this work for personal or ERICA FIELD, Duke University classroom use is granted without fee provided ADRIANA LLERAS-MUNEY, University of California at Los Angeles Dora Costa, University of California at Los Angeles that copies are not made or distributed for profit BETSEY STEVENSON, University of Michigan Amy Finkelstein, Massachusetts Institute of Technology or direct commercial advantage and that cop- ies show this notice on the first page or initial Ex Officio Members Seema Jayachandran, Northwestern University screen of a display along with the full citation, in- ROBERT J. SHILLER, Yale University Guido Lorenzoni, Northwestern University cluding the name of the author. Copyrights for ALVIN E. ROTH, Stanford University Valerie Ramey, University of California at San Diego components of this work owned by others than Appointed Members Fiona Scott Morton, Yale University AEA must be honored. Abstracting with credit is permitted. The author has the right to repub- Editor, The American Economic Review Betsey Stevenson, University of Michigan lish, post on servers, redistribute to lists, and use ESTHER DUFLO, Massachusetts Institute of Technology Ebonya Washington, Yale University any component of this work in other works. For others to do so requires prior specific permis- Editor, The American Economic Review: Insights Catherine Wolfram, University of California sion and/or a fee. Per missions may be requested AMY FINKELSTEIN, Massachusetts Institute of Technology Luigi Zingales, University of Chicago from the American Economic Association, Editor, The Journal of Economic Literature 2014 Broadway, Suite 305, Nashville, TN 37203; STEVEN N. DURLAUF, University of Wisconsin e-mail: [email protected]. Managing Editor Editor, The Journal of Economic Perspectives Timothy Taylor ENRICO MORETTI, University of California at Berkeley Assistant Editor Editor, American Economic Journal: Applied Economics Ann Norman ALEXANDRE MAS, Princeton University Editor, American Economic Journal: Economic Policy MATTHEW D. SHAPIRO, University of Michigan Editorial offices: Editor, American Economic Journal: Macroeconomics Journal of Economic Perspectives SIMON GILCHRIST, New York University American Economic Association Publications Editor, American Economic Journal: Microeconomics 2403 Sidney St., #260 JOHANNES HÖRNER, Yale University Pittsburgh, PA 15203 Secretary-Treasurer email: [email protected] PETER L. ROUSSEAU, Vanderbilt University OTHER OFFICERS Editor, Resources for Economists The Journal of Economic Perspectives gratefully acknowledges the support of Macalester College. WILLLIAM GOFFE, Pennsylvania State University ® Registered in the US Patent and Trademark Office ( ). Director of AEA Publication Services Copyright © 2018 by the American Economic Association; All Rights Reserved. JANE EMILY VOROS, Pittsburgh Composed by American Economic Association Publications, Pittsburgh, Pennsylvania, USA. Printed by LSC Communications, Owensville, Missouri, 65066, USA. Managing Director of EconLit Product Design and Content No responsibility for the views expressed by the authors in this journal is assumed by the editors or by STEVEN L. HUSTED, University of Pittsburgh the American Economic Association. Counsel THE JOURNAL OF ECONOMIC PERSPECTIVES (ISSN 0895-3309), Spring 2018, Vol. 32, No. 2. The JEP TERRY CALVANI, Freshfields Bruckhaus Deringer LLP is published quarterly (February, May, August, November) by the American Economic Association, 2014 Washington, DC Broadway, Suite 305, Nashville, TN 37203-2418. Annual dues for regular membership are $20.00, $30.00, or $40.00 depending on income; for an additional $15.00, you can receive this journal in print. E-reader ADMINISTRATORS versions are free. For details and further information on the AEA go to https://www.aeaweb.org/. Director of Finance and Administration Periodicals postage paid at Nashville, TN, and at additional mailing offices. BARBARA H. FISER POSTMASTER: Send address changes to the Journal of Economic Perspectives, 2014 Broadway, Suite 305, Convention Manager Nashville, TN 37203. Printed in the U.S.A. GWYN LOFTIS The Journal of Economic Perspectives Contents Volume 32 • Number 2 • Spring 2018 Symposia Does the US Really Gain from Trade? Arnaud Costinot and Andrés Rodríguez-Clare, “The US Gains From Trade: Valuation Using the Demand for Foreign Factor Services” . 3 Robert C . Feenstra, “Alternative Sources of the Gains from International Trade: Variety, Creative Destruction, and Markups” . 25 Teresa C . Fort, Justin R . Pierce, and Peter K . Schott, “New Perspectives on the Decline of US Manufacturing Employment” . 47 Dani Rodrik, “What Do Trade Agreements Really Do?” . 73 Risk in Economics and Psychology Ted O’Donoghue and Jason Somerville, “Modeling Risk Aversion in Economics” . 91 Thomas Dohmen, Armin Falk, David Huffman, and Uwe Sunde, “On the Relationship between Cognitive Ability and Risk Preference” . 115 Hannah Schildberg-Hörisch, “Are Risk Preferences Stable?” . 135 Rui Mata, Renato Frey, David Richter, Jürgen Schupp, and Ralph Hertwig, “Risk Preference: A View from Psychology” . 155 Articles Matthew Weinzierl, “Space, the Final Economic Frontier” . 173 Daron Acemoglu, “Dave Donaldson: Winner of the 2017 Clark Medal” . 193 Features Bruce Elmslie, “Retrospectives: Adam Smith’s Discovery of Trade Gravity” . 209 Timothy Taylor, “Recommendations for Further Reading” . 223 “Do You Use JEP Articles in Your Classroom? One More Chance to Share!” . 231 Statement of Purpose The Journal of Economic Perspectives attempts to fill a gap between the general interest press and most other academic economics journals . The journal aims to publish articles that will serve several goals: to synthesize and integrate lessons learned from active lines of economic research; to provide economic analysis of public policy issues; to encourage cross-fertilization of ideas among the fields of economics; to offer readers an accessible source for state-of-the-art economic thinking; to suggest directions for future research; to provide insights and read- ings for classroom use; and to address issues relating to the economics profession . Articles appearing in the journal are normally solicited by the editors and associate editors . Proposals for topics and authors should be directed to the journal office, at the address inside the front cover . Policy on Data Availability It is the policy of the Journal of Economic Perspectives to publish papers only if the data used in the analysis are clearly and precisely documented and are readily available to any researcher for purposes of replication . Details of the computations
Load more

Recommended publications
  • Baoguang Zhai Gisposter
    Mapping new FronƟers— Use Socioeconomic lenses to find the best coastal ciƟes for seasteading Introduction Seasteading means the creaon and growth of permanent, autonomous ocean communies, or “seasteads,” to promote greater compeon and innovaon in polical and social systems. Seasteads will give people the opportunity to peacefully test new ideas about how to live togeth‐ er. The most successful will become thriving floang cies—inspiring change around the world. Since the founding of the Seasteading Instute in 2008 by the partnership of Patri Friedman, grandson of renowned economist Milton Friedman, and Silicon Valley investor and philanthropist Peter Thiel, the seasteading movement has been geng more and more aenon and recogni‐ on both within the US and across the world. Therefore, it is natural for seasteaders to look around the enre oceans of the world and study the most promising locaons for seasteading communies. The country is poliƟcally and economically liberal. The first spots for seasteading City Country Seasteading Score need to be more polically liberal, otherwise the seastead faces the danger of its estate Phase 2 City selecƟon - A city needs to sasfy two standards for it to be suitable for being expropriated by the government. For a seastead to be autonomous and funcon‐ New York United States 91.41 seasteading: ing, it also requires that the countries where the seasteads are located at to have rela‐ Stockholm Sweden 86.12 vely less economic regulaon and less government and tax burdens. The city is considered to be an important node in the global economic system. It is Dublin Ireland 85.79 a crucial strategy to build a seastead as a site of Amsterdam Netherlands 85.42 The economy of the country is compeƟƟve at building innovaƟve products and ser- aracon and a showcase for new ideas and max‐ Sydney Australia 85.15 vices.
    [Show full text]
  • A Quantitative Theory of Political Transitions∗
    A Quantitative Theory of Political Transitions∗ Lukas Buchheimy Robert Ulbrichtz August 28, 2019 Abstract We develop a quantitative theory of repeated political transitions driven by revolts and reforms. In the model, the beliefs of disenfranchised citizens play a key role in determining revolutionary pressure, which in interaction with preemptive reforms determine regime dynamics. We study the quantitative implications of the model by fitting it to data on the universe of political regimes existing between 1946 and 2010. The estimated model generates a process of political transitions that looks remarkably close to the data, replicating the empirical shape of transition hazards, the frequency of revolts relative to reforms, the distribution of newly established regime types after revolts and reforms, and the unconditional distribution over regime types. Keywords: Democratic reforms, quantitative political economy, regime dynamics, revolts, transition hazards. JEL Classification: D74, D78, P16. ∗This paper supersedes an earlier working paper titled \Dynamics of Political Systems." We would like to thank the managing editor, Mich`eleTertilt, four anonymous referees, Daron Acemoglu, Toke Aidt, Matthias Doepke, Christian Hellwig, Johannes Maier, Uwe Sunde, and various seminar and conference participants for valuable comments and suggestions. yLMU Munich, Schackstr 4/IV, 80539 Munich, Germany. E-mail: [email protected]. zBoston College, 140 Commonwealth Avenue, Chestnut Hill, MA 02467. E-mail: [email protected]. 1 Introduction This paper develops a quantitative theory of political transitions based on the evolution of beliefs regarding the regime's strength. Traditionally, the literature has focused on explaining specific patterns of regime changes, focusing on isolated transition episodes.1 In this paper, we shift the focus to a macro perspective, aiming to account for a number of stylized facts in a unified framework.
    [Show full text]
  • Floating Cities: One Group's Idea for Adapting to Climate Change by Washington Post, Adapted by Newsela Staff on 04.10.19 Word Count 909 Level 1060L
    Floating cities: one group's idea for adapting to climate change By Washington Post, adapted by Newsela staff on 04.10.19 Word Count 909 Level 1060L A rendering of an Oceanix floating city as seen from above. Photo by: Oceanix/Bjarke Ingels Group As waters rise due to climate change — the overall warming of Earth — cities along coastlines are in increasing danger due to the resulting rise in sea levels. So, a nonprofit group called Oceanix is seeking alternative habitats. Oceanix is building a floating island as an experimental solution, the company told the United Nations (U.N.) habitat program April 3. The U.N. is a group that fosters cooperation among countries. The U.N. habitat program's focus is on human settlements. Their work involves making sure people in cities have safe places to live. Self-Sustaining Cities The buoyant islands would be linked together into floating, self-sustaining cities. They would rise with sea levels and are built to withstand hurricanes, according to a group of architects, engineers and developers who met at the U.N. headquarters. The prototype, or initial version, will be a small-scale kind that could be ready within months, said Marc Collins Chen. He's a founder of This article is available at 5 reading levels at https://newsela.com. Oceanix and a former politician from French Polynesia, a group of islands in the South Pacific Ocean. Officials at the U.N. welcomed the proposal. However, they have not officially joined the plan to create floating cities. The idea might sound unreal, but coastal cities are running out of land.
    [Show full text]
  • Street Prostitution Zones and Crime
    UvA-DARE (Digital Academic Repository) Street prostitution zones and crime Bisschop, P.; Kastoryano, S.; van der Klaauw, B. DOI 10.1257/pol.20150299 Publication date 2017 Document Version Final published version Published in American Economic Journal. Economic Policy License Other Link to publication Citation for published version (APA): Bisschop, P., Kastoryano, S., & van der Klaauw, B. (2017). Street prostitution zones and crime. American Economic Journal. Economic Policy, 9(4), 28-63. https://doi.org/10.1257/pol.20150299 General rights It is not permitted to download or to forward/distribute the text or part of it without the consent of the author(s) and/or copyright holder(s), other than for strictly personal, individual use, unless the work is under an open content license (like Creative Commons). Disclaimer/Complaints regulations If you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library: https://uba.uva.nl/en/contact, or a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible. UvA-DARE is a service provided by the library of the University of Amsterdam (https://dare.uva.nl) Download date:02 Oct 2021 American Economic Journal SUMIT AGARWAL, NATHAN MARWELL, AND LESLIE MCGRANAHAN Consumption Responses to Temporary Tax Incentives: Evidence from State Sales Tax Holidays PAUL BISSCHOP, STEPHEN KASTORYANO, AND BAS VAN DER KLAAUW Economic Policy Economic Policy Street Prostitution Zones and Crime CHAD P.
    [Show full text]
  • Patience and Comparative Development*
    Patience and Comparative Development* Thomas Dohmen Benjamin Enke Armin Falk David Huffman Uwe Sunde May 29, 2018 Abstract This paper studies the role of heterogeneity in patience for comparative devel- opment. The empirical analysis is based on a simple OLG model in which patience drives the accumulation of physical capital, human capital, productivity improve- ments, and hence income. Based on a globally representative dataset on patience in 76 countries, we study the implications of the model through a combination of reduced-form estimations and simulations. In the data, patience is strongly corre- lated with income levels, income growth, and the accumulation of physical capital, human capital, and productivity. These relationships hold across countries, sub- national regions, and individuals. In the reduced-form analyses, the quantitative magnitude of the relationship between patience and income strongly increases in the level of aggregation. A simple parameterized version of the model generates comparable aggregation effects as a result of production complementarities and equilibrium effects, and illustrates that variation in preference endowments can account for a considerable part of the observed variation in per capita income. JEL classification: D03, D90, O10, O30, O40. Keywords: Patience; comparative development; factor accumulation. *Armin Falk acknowledges financial support from the European Research Council through ERC # 209214. Dohmen, Falk: University of Bonn, Department of Economics; [email protected], [email protected]. Enke: Harvard University, Department of Economics; [email protected]. Huffman: University of Pittsburgh, Department of Economics; huff[email protected]. Sunde: University of Munich, Department of Economics; [email protected]. 1 Introduction A long stream of research in development accounting has documented that both pro- duction factors and productivity play an important role in explaining cross-country income differences (Hall and Jones, 1999; Caselli, 2005; Hsieh and Klenow, 2010).
    [Show full text]
  • Jeju Island Rambling: Self-Exile in Peace Corps, 1973-1974
    Jeju Island Rambling: Self-exile in Peace Corps, 1973-1974 David J. Nemeth ©2014 ~ 2 ~ To Hae Sook and Bobby ~ 3 ~ Table of Contents Chapter 1 Flying to Jeju in 1973 JWW Vol. 1, No. 1 (January 1, 2013) ~17~ Chapter 2 Hwasun memories (Part 1) JWW Vol. 1, No. 2 (January 8, 2013) ~21~ Chapter 3 Hwasun memories (Part 2) JWW Vol. 1, No. 3 (January 15, 2013) ~25~ Chapter 4 Hwasun memories (Part 3) JWW Vol. 1, No. 4 (January 22, 2013) ~27~ Chapter 5 The ‘Resting Cow’ unveiled (Udo Island Part 1) JWW Vol. 1, No. 5 (January 29, 2013) ~29~ Chapter 6 Close encounters of the haenyeo kind (Udo Island Part 2) JWW Vol. 1, No. 6 (February 5, 2013) ~32~ Chapter 7 Mr. Bu’s Jeju Island dojang (Part 1) JWW Vol. 1, No. 7 (February 12, 2013) ~36~ Chapter 8 Mr. Bu’s dojang (Part 2) JWW Vol. 1, No. 8 (February 19, 2013) ~38~ Chapter 9 Mr. Bu’s dojang (Part 3) JWW Vol. 1, No. 9 (February 26, 2013) ~42~ Chapter 10 Mr. Bu’s dojang (Part 4) JWW Vol. 1, No. 10 (March 5, 2013) ~44~ Chapter 11 Unexpected encounters with snakes, spiders and 10,000 crickets (Part 1) JWW Vol. 1, No. 11 (March 12, 2013) ~46~ Chapter 12 Unexpected encounters with snakes, spiders and 10,000 crickets (Part 2) JWW Vol. 1, No. 12 (March 19, 2013) ~50~ Chapter 13 Unexpected encounters with snakes, spiders and 10,000 crickets (Part 3) JWW Vol. 1, No. 13 (March 26, 2013) ~55~ Chapter 14 Unexpected encounters with snakes, spiders and 10,000 crickets (Part 4) JWW Vol.
    [Show full text]
  • Breaking the Horizon
    Kennesaw State University DigitalCommons@Kennesaw State University Bachelor of Architecture Theses - 5th Year Department of Architecture Spring 5-4-2017 Breaking The orH izon Chelseay Frith Kennesaw State University Follow this and additional works at: https://digitalcommons.kennesaw.edu/barch_etd Part of the Architecture Commons Recommended Citation Frith, Chelseay, "Breaking The orH izon" (2017). Bachelor of Architecture Theses - 5th Year. 5. https://digitalcommons.kennesaw.edu/barch_etd/5 This Thesis is brought to you for free and open access by the Department of Architecture at DigitalCommons@Kennesaw State University. It has been accepted for inclusion in Bachelor of Architecture Theses - 5th Year by an authorized administrator of DigitalCommons@Kennesaw State University. For more information, please contact [email protected]. 1 Department of Architecture College of Architecture and Construction Management Thesis Collaborative 2016 – 2017 Request for Approval of Project Book Chelseay Frith Breaking the Horizon Thesis Summary: We are consuming more resources than the planet can sustain and at the current rate of usage these resources will be exhaust- ed. By creating this community, it will allow the exploration of different methods of living, regenerative cities, and research wave energy technology. The combination of elements from architecture, engineering, and technology can create a community that is an experiment in how we can design an environment that can create a community that is an experiment in how we can design an environment that can exist above and below the surface of the ocean. The challenge is to break the horizon and explore a new architectural frontier. Student Signature ________________________________Date___________Chelseay Paige Frith 5/4/2017 Approved by: Internal Advisor 1 __________________________________Date__________Michael J.
    [Show full text]
  • Did We Overestimate the Role of Social Preferences? the Case of Self-Selected Student Samples
    Did we overestimate the role of social preferences? The case of self-selected student samples Armin Falk,∗ Stephan Meier,y and Christian Zehnderz July 13, 2010 Abstract Social preference research has fundamentally changed the way economists think about many important economic and social phenomena. However, the em- pirical foundation of social preferences is largely based on laboratory experiments with self-selected students as participants. This is potentially problematic as students participating in experiments may behave systematically different than non-participating students or non-students. In this paper we empirically inves- tigate whether laboratory experiments with student samples misrepresent the importance of social preferences. Our first study shows that students who ex- hibit stronger prosocial inclinations in an unrelated field donation are not more likely to participate in experiments. This suggests that self-selection of more prosocial students into experiments is not a major issue. Our second study com- pares behavior of students and the general population in a trust experiment. We find very similar behavioral patterns for the two groups. If anything, the level of reciprocation seems higher among non-students implying an even greater importance of social preferences than assumed from student samples. Keywords: methodology, selection, experiments, prosocial behavior JEL: C90, D03 ∗University of Bonn, Department of Economics, Adenauerallee 24-42, D-53113 Bonn; [email protected]. yColumbia University, Graduate School of Business, 710 Uris Hall, 3022 Broadway, New York, NY 10027; [email protected]. zUniversity of Lausanne, Faculty of Business and Economics, Quartier UNIL-Dorigny, Internef 612, CH-1015 Lausanne; [email protected]. 1 1 Introduction Social preferences such as trust and reciprocity play an increasingly important role in economics.
    [Show full text]
  • WHARF MASTER PLAN Mitigated Negative Declaration / Initial Study STATE CLEARINGHOUSE NUMBER 2016032038
    ATTACHMENT C ATTACHMENT C : Public Comments and Responses WHARF MASTER PLAN REVISED INITIAL STUDY City of Santa Cruz October 2016 ATTACHMENT C CITY OF SANTA CRUZ SANTA CRUZ WHARF MASTER PLAN Mitigated Negative Declaration / Initial Study STATE CLEARINGHOUSE NUMBER 2016032038 Public Comments and Responses Mitigation Monitoring and Reporting Program August 4, 2016 CONTENTS: I. Introduction II. Initial Study Revisions & Corrections III. Summary of Comments IV. Response to Environmental Comments V. Mitigation Monitoring and Reporting Program VI. ATTACHMENTS A. Comment Letters I. INTRODUCTION An Initial Study and Mitigated Negative Declaration (IS/MND) were prepared and circulated for a 30-day public review period from March 14 through April 12, 2016. The California State Clearinghouse (Governor’s Office of Planning and Research) sent a letter to the City upon the close of the public review period to indicate that the City had complied with the State’s environmental review process and that no state agencies submitted comments to the Clearinghouse. Comments were received by the City from the agencies and individuals listed below. The comment letters are included in ATTACHMENT A. r California Coastal Commission r California Department of Fish and Wildlife r Monterey Bay Unified Air Pollution Control District (No Comments) r Lu Erickson r Gillian Greensite r Mary McGranahan r Reed Searle Environmental issues raised in the submitted comments are summarized in Section III. The California State CEQA Guidelines (section 15074) do not require preparation of written responses to comments on a Mitigated Negative Declaration, but requires the decision- making body of the lead agency to consider the Mitigated Negative Declaration together with any comments received during the public review process.
    [Show full text]
  • Econ 0040: Behavioural Economics Fall 2020
    Econ 0040: Behavioural Economics Fall 2020 Lecturer information Dr. Zeynep Gurguc E-mail: [email protected] Student feedback hours (online): Thursdays 13:15-14:15 during first term or by appointment & later by appointment. What will you learn about? The purpose of this course is to provide students an overview of research in Behavioural Economics, a field of economics that draws on knowledge in psychology to capture important aspects of human behaviour and social interactions that standard economic models cannot explain. The topics we will cover include: Heuristics and Biases, Decision Making under Uncertainty, Prospect Theory, Reference Dependence, Intertemporal Choice, Social Preferences, Bounded Rationality, Nudge as well as Heterogeneity and Malleability of Preferences. Throughout this course, we will link theory to practice and discuss empirical applications in areas and topics such as consumer choice, saving behaviour, procrastination, education, labour supply, finance and policy making. How will you learn? We will use a mixture of online asynchronous and synchronous content. Each Monday by 11:45 am you will get access to the core materials for the week as well as the tasks. In addition, both your lecturer and your teaching assistant will have regular student support and feedback hours where you can drop in to discuss any issues around this module. Weekly Live Sessions with Dr Gurguc: Wednesdays 11AM-12:30PM. The lectures will be on zoom except for weeks 6, 7, 12 and 14 (i.e. October 7, October 14, November 18 and December 2) when the live lecture will be held face-to-face (F2F). F2F lectures will take place in Wilkins Building (main building), Jeremy Bentham Room.
    [Show full text]
  • David Huffman 416 N
    DAVID HUFFMAN 416 N. Chester Rd., Apt. 2 Swarthmore, PA 19081 E-mail: [email protected] Webpage: http://www.swarthmore.edu/x28019.xml PERSONAL Birth Date: April 4th, 1974 Citizenship: USA EMPLOYMENT SINCE PH.D. Associate Professor (with tenure), Swarthmore College February 2012 – Present Assistant Professor, Swarthmore College January 2008 – February 2013 IZA Senior Research Associate 2006 – 2007 Deputy Director, Behavioral and Personnel Economics Program Area IZA Laboratory Coordinator IZA Research Associate 2003 – 2006 EDITORIAL POSITIONS Associate Editor for Management Science January 2013 – present EDUCATION University of California, Berkeley Ph.D. Economics 2003 Primary Fields: Behavioral economics, labor economics, applied microeconomics. Dissertation Advisor: Professor George Akerlof Oberlin College, Oberlin Ohio B.A., magna cum laude in Economics 1996 PUBLICATIONS “Implicit Contracts, Unemployment, and Market Segmentation” IZA Discussion Paper, No. 5001 (with Steffen Altmann, Armin Falk, and Andreas Grunewald), forthcoming in Review of Economic Studies. “When a Nudge isn’t Enough: A Field Test of the Power of Defaults to Influence Savings of Low- Income Tax Filers”, NBER Working Paper, No. 16887 (with Erin Bronchetti, Thomas Dee, and Ellen Magenheim), forthcoming in National Tax Journal. “Validating an Ultra-Short Survey Measure of Impatience”, forthcoming in Economics Letters (with Thomas Dohment, Armin Falk, Jürgen Schupp, Uwe Sunde, Thomas Vischer, and Gert Wagner). “Competition Between Organizational Groups: Its Impact on Altruistic and Antisocial Motivations”, Management Science, 2012, 58(5), 948–960 (with Lorenz Goette, Stephan Meier, and Matthias Sutter). “The Impact of Social Ties on Group Interactions: Evidence from Minimal Groups and Randomly Assigned Real Groups”, American Economic Journal: Microeconomics, 2012, 4(1), 101–115 (with Lorenz Goette and Stephan Meier).
    [Show full text]
  • Seasteading: Institutional Innovation on the Open Ocean
    Seasteading: Institutional Innovation on the Open Ocean Patri Friedman* and Brad Taylor† December 2010 Our Mission: To further the establishment and growth of permanent, autonomous ocean communities, enabling innovation with new political and social systems. Email: [email protected] website: www.seasteading.org __________________________________________________ * Executive Director, The Seasteading Institute. [email protected] † Research Associate, The Seasteading Institute. [email protected] Seasteading: Institutional Innovation on the Open Ocean Paper presented at the Australasian Public Choice Society Conference, December 9-10, 2010, University of Canterbury, Christchurch, New Zealand Patri Friedman* and Brad Taylor† Abstract: We develop a dynamic theory of the industrial organization of government which combines the insights of public choice theory and a dynamic understanding of competition. We argue that efforts to improve policy should be focused at the root of the problem – the uncompetitive governance industry and the technological environment out of which it emerges – and suggest that the most promising way to robustly improve policy is to develop the technology to settle the ocean. 1. Introduction While most political analysis focuses on policy, public choice theorists have correctly recognized that policy emerges from the constitutional level and shifted their focus accordingly. This has not only led to new insights, but also helps focus the efforts of political activists more effectively. Constitutional political economists have argued that the only way to robustly improve policy is to improve the constitutional rules which form the incentive structure of everyday politics. While the public choice approach is a significant improvement over standard forms of political analysis and activism which focus on the policy level, it ignores the question of why we do not have better constitutions.
    [Show full text]