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Economics & Finance 2011
Economics & Finance 2011 press.princeton.edu Contents General Interest 1 Economic Theory & Research 15 Game Theory 18 Finance 19 Econometrics, Mathematical & Applied Economics 24 Innovation & Entrepreneurship 26 Political Economy, Trade & Development 27 Public Policy 30 Economic History & History of Economics 31 Economic Sociology & Related Interest 36 Economics of Education 42 Classic Textbooks 43 Index/Order Form 44 TEXT Professors who wish to consider a book from this catalog for course use may request an examination copy. For more information please visit: press.princeton.edu/class.html New Winner of the 2010 Business Book of the Year Award, Financial Times/Goldman Sachs Fault Lines How Hidden Fractures Still Threaten the World Economy Raghuram G. Rajan “What caused the crisis? . There is an embarrassment of causes— especially embarrassing when you recall how few people saw where they might lead. Raghuram Rajan . was one of the few to sound an alarm before 2007. That gives his novel and sometimes surprising thesis added authority. He argues in his excellent new book that the roots of the calamity go wider and deeper still.” —Clive Crook, Financial Times Raghuram G. Rajan is the Eric J. Gleacher Distinguished Service Profes- “Excellent . deserve[s] to sor of Finance at the University of Chicago Booth School of Business and be widely read.” former chief economist at the International Monetary Fund. —Economist 2010. 272 pages. Cl: 978-0-691-14683-6 $26.95 | £18.95 Not for sale in India ForthcominG Blind Spots Why We Fail to Do What’s Right and What to Do about It Max H. Bazerman & Ann E. -
APPLICATION for GRANTS UNDER the National Resource Centers and Foreign Language and Area Studies Fellowships
U.S. Department of Education Washington, D.C. 20202-5335 APPLICATION FOR GRANTS UNDER THE National Resource Centers and Foreign Language and Area Studies Fellowships CFDA # 84.015A PR/Award # P015A180149 Gramts.gov Tracking#: GRANT12660118 OMB No. , Expiration Date: Closing Date: Jun 25, 2018 PR/Award # P015A180149 **Table of Contents** Form Page 1. Application for Federal Assistance SF-424 e3 2. Standard Budget Sheet (ED 524) e6 3. Assurances Non-Construction Programs (SF 424B) e8 4. Disclosure Of Lobbying Activities (SF-LLL) e10 5. ED GEPA427 Form e11 Attachment - 1 (GEPA_Statement_2018) e12 6. Grants.gov Lobbying Form e13 7. Dept of Education Supplemental Information for SF-424 e14 8. ED Abstract Narrative Form e15 Attachment - 1 (NRC Abstract NYC CLAS 2018 2022) e16 9. Project Narrative Form e17 Attachment - 1 (Table of Contents NYC Consortium_1) e18 Attachment - 2 (Abbreviations Gloss NYC Consortium_1) e20 Attachment - 3 (Final Narrative NYC Consortium_1) e22 10. Other Narrative Form e82 Attachment - 1 (NRC and FLAS Applicant Profile) e83 Attachment - 2 (Divrs Persp and Areas of Natnl Need NYC Consor) e84 Attachment - 3 (Appendix 1 NRC PMFs NYC Consortium) e86 Attachment - 4 (Appendix II Project Personnel NYC Consortium) e89 Attachment - 5 (Appendix III Course List NYC Consortium) e235 Attachment - 6 (Position Descriptions NYC Consortium) e267 Attachment - 7 (Letters of Support NYC Consortium) e268 11. Budget Narrative Form e275 Attachment - 1 (Budget Detail NYC Consortium) e276 This application was generated using the PDF functionality. The PDF functionality automatically numbers the pages in this application. Some pages/sections of this application may contain 2 sets of page numbers, one set created by the applicant and the other set created by e-Application's PDF functionality. -
When Does Behavioural Economics Really Matter?
When does behavioural economics really matter? Ian McAuley, University of Canberra and Centre for Policy Development (www.cpd.org.au) Paper to accompany presentation to Behavioural Economics stream at Australian Economic Forum, August 2010. Summary Behavioural economics integrates the formal study of psychology, including social psychology, into economics. Its empirical base helps policy makers in understanding how economic actors behave in response to incentives in market transactions and in response to policy interventions. This paper commences with a short description of how behavioural economics fits into the general discipline of economics. The next section outlines the development of behavioural economics, including its development from considerations of individual psychology into the fields of neurology, social psychology and anthropology. It covers developments in general terms; there are excellent and by now well-known detailed descriptions of the specific findings of behavioural economics. The final section examines seven contemporary public policy issues with suggestions on how behavioural economics may help develop sound policy. In some cases Australian policy advisers are already using the findings of behavioural economics to advantage. It matters most of the time In public policy there is nothing novel about behavioural economics, but for a long time it has tended to be ignored in formal texts. Like Molière’s Monsieur Jourdain who was surprised to find he had been speaking prose all his life, economists have long been guided by implicit knowledge of behavioural economics, particularly in macroeconomics. Keynes, for example, understood perfectly the “money illusion” – people’s tendency to think of money in nominal rather than real terms – in his solution to unemployment. -
Price Competition with Satisficing Consumers
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Aberdeen University Research Archive Price Competition with Satisficing Consumers∗ Mauro Papiy Abstract The ‘satisficing’ heuristic by Simon (1955) has recently attracted attention both theoretically and experimentally. In this paper I study a price-competition model in which the consumer is satisficing and firms can influence his aspiration price via marketing. Unlike existing models, whether a price comparison is made depends on both pricing and marketing strategies. I fully characterize the unique symmetric equilibrium by investigating the implications of satisficing on various aspects of market competition. The proposed model can help explain well-documented economic phenomena, such as the positive correla- tion between marketing and prices observed in some markets. JEL codes: C79, D03, D43. Keywords: Aspiration Price, Bounded Rationality, Price Competition, Satisficing, Search. ∗This version: August 2017. I would like to thank the Editor of this journal, two anonymous referees, Ed Hopkins, Hans Hvide, Kohei Kawamura, Ran Spiegler, the semi- nar audience at universities of Aberdeen, East Anglia, and Trento, and the participants to the 2015 OLIGO workshop (Madrid) and the 2015 Econometric Society World Congress (Montreal) for their comments. Financial support from the Aberdeen Principal's Excel- lence Fund and the Scottish Institute for Research in Economics is gratefully acknowledged. Any error is my own responsibility. yBusiness School, University of Aberdeen - Edward Wright Building, Dunbar Street, AB24 3QY, Old Aberdeen, Scotland, UK. E-mail address: [email protected]. 1 1 Introduction According to Herbert Simon (1955), in most global models of rational choice, all alternatives are eval- uated before a choice is made. -
Notes and Sources for Evil Geniuses: the Unmaking of America: a Recent History
Notes and Sources for Evil Geniuses: The Unmaking of America: A Recent History Introduction xiv “If infectious greed is the virus” Kurt Andersen, “City of Schemes,” The New York Times, Oct. 6, 2002. xvi “run of pedal-to-the-medal hypercapitalism” Kurt Andersen, “American Roulette,” New York, December 22, 2006. xx “People of the same trade” Adam Smith, The Wealth of Nations, ed. Andrew Skinner, 1776 (London: Penguin, 1999) Book I, Chapter X. Chapter 1 4 “The discovery of America offered” Alexis de Tocqueville, Democracy In America, trans. Arthur Goldhammer (New York: Library of America, 2012), Book One, Introductory Chapter. 4 “A new science of politics” Tocqueville, Democracy In America, Book One, Introductory Chapter. 4 “The inhabitants of the United States” Tocqueville, Democracy In America, Book One, Chapter XVIII. 5 “there was virtually no economic growth” Robert J Gordon. “Is US economic growth over? Faltering innovation confronts the six headwinds.” Policy Insight No. 63. Centre for Economic Policy Research, September, 2012. --Thomas Piketty, “World Growth from the Antiquity (growth rate per period),” Quandl. 6 each citizen’s share of the economy Richard H. Steckel, “A History of the Standard of Living in the United States,” in EH.net (Economic History Association, 2020). --Andrew McAfee and Erik Brynjolfsson, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (New York: W.W. Norton, 2016), p. 98. 6 “Constant revolutionizing of production” Friedrich Engels and Karl Marx, Manifesto of the Communist Party (Moscow: Progress Publishers, 1969), Chapter I. 7 from the early 1840s to 1860 Tomas Nonnenmacher, “History of the U.S. -
ECON 1820: Behavioral Economics Spring 2015 Brown University Course Description Within Economics, the Standard Model of Be
ECON 1820: Behavioral Economics Spring 2015 Brown University Course Description Within economics, the standard model of behavior is that of a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. The aim of this course is to provide a grounding in the main areas of study within behavioral economics, including temptation and self control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty. For each area we will study three things: 1. The evidence that indicates that the standard economic model is missing some important behavior 2. The models that have been developed to capture these behaviors 3. Applications of these models to (for example) finance, labor and development economics As well as the standard lectures, homework assignments, exams and so on, you will be asked to participate in economic experiments, the data from which will be used to illustrate some of the principals in the course. There will also be a certain small degree of classroom ‘flipping’, with a portion of many lectures given over to group problem solving. Finally, an integral part of the course will be a research proposal that you must complete by the end of the course, outlining a novel piece of research that you would be interested in doing. -
Featured Topic Social & Behavioral Science Interventions at the Federal Level in This Issue Nudging People to Get Flu Vaccinations
a publication of the behavioral science & policy association volume 2 issue 2 2016 featured topic social & behavioral science interventions at the federal level in this issue Nudging people to get flu vaccinations behavioralpolicy.org founding co-editors disciplinary editors Craig R. Fox (UCLA) Behavioral Economics Sim B Sitkin (Duke University) Senior Disciplinary Editor Dean S. Karlan (Yale University) bspa executive director Associate Disciplinary Editors Oren Bar-Gill (Harvard University) Colin F. Camerer (California Institute ofTechnology) Kate B.B. Wessels M. Keith Chen (UCLA) advisory board Julian Jamison (World Bank) Paul Brest (Stanford University) Russell B. Korobkin (UCLA) David Brooks (New York Times) Devin G. Pope (University of Chicago) John Seely Brown (Deloitte) Jonathan Zinman (Dartmouth College) Robert B. Cialdini (Arizona State University) Adam M. Grant (University of Pennsylvania) Cognitive & Brain Science Daniel Kahneman (Princeton University) Senior Disciplinary Editor Henry L. Roediger III (Washington University) James G. March (Stanford University) Associate Disciplinary Editors Yadin Dudai (Weizmann Institute & NYU) Jeffrey Pfeffer (Stanford University) Roberta L. Klatzky (Carnegie Mellon University) Denise M. Rousseau (Carnegie Mellon University) Hal Pashler (UC San Diego) Paul Slovic (University of Oregon) Steven E. Petersen (Washington University) Cass R. Sunstein (Harvard University) Jeremy M. Wolfe (Harvard University) Richard H. Thaler (University of Chicago) Decision, Marketing, & Management Sciences executive committee Senior Disciplinary Editor Eric J. Johnson (Columbia University) Associate Disciplinary Editors Linda C. Babcock (Carnegie Mellon University) Morela Hernandez (University of Virginia) Max H. Bazerman (Harvard University) Katherine L. Milkman (University of Pennsylvania) Baruch Fischhoff (Carnegie Mellon University) Daniel Oppenheimer (UCLA) John G. Lynch (University of Colorado) Todd Rogers (Harvard University) John W. -
Behavioral Economics and Marketing in Aid of Decision Making Among the Poor
Behavioral Economics and Marketing in Aid of Decision Making Among the Poor The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Bertrand, Marianne, Sendhil Mullainathan, and Eldar Shafir. 2006. Behavioral economics and marketing in aid of decision making among the poor. Journal of Public Policy and Marketing 25(1): 8-23. Published Version http://dx.doi.org/10.1509/jppm.25.1.8 Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:2962609 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA Behavioral Economics and Marketing in Aid of Decision Making Among the Poor Marianne Bertrand, Sendhil Mullainathan, and Eldar Shafir This article considers several aspects of the economic decision making of the poor from the perspective of behavioral economics, and it focuses on potential contributions from marketing. Among other things, the authors consider some relevant facets of the social and institutional environments in which the poor interact, and they review some behavioral patterns that are likely to arise in these contexts. A behaviorally more informed perspective can help make sense of what might otherwise be considered “puzzles” in the economic comportment of the poor. A behavioral analysis suggests that substantial welfare changes could result from relatively minor policy interventions, and insightful marketing may provide much needed help in the design of such interventions. -
Esther Duflo Wins Clark Medal
Esther Duflo wins Clark medal http://web.mit.edu/newsoffice/2010/duflo-clark-0423.html?tmpl=compon... MIT’s influential poverty researcher heralded as best economist under age 40. Peter Dizikes, MIT News Office April 23, 2010 MIT economist Esther Duflo PhD ‘99, whose influential research has prompted new ways of fighting poverty around the globe, was named winner today of the John Bates Clark medal. Duflo is the second woman to receive the award, which ranks below only the Nobel Prize in prestige within the economics profession and is considered a reliable indicator of future Nobel consideration (about 40 percent of past recipients have won a Nobel). Duflo, a 37-year-old native of France, is the Abdul Esther Duflo, the Abdul Latif Jameel Professor of Poverty Alleviation Latif Jameel Professor of Poverty Alleviation and and Development Economics at MIT, was named the winner of the Development Economics at MIT and a director of 2010 John Bates Clark medal. MIT’s Abdul Latif Jameel Poverty Action Lab Photo - Photo: L. Barry Hetherington (J-PAL). Her work uses randomized field experiments to identify highly specific programs that can alleviate poverty, ranging from low-cost medical treatments to innovative education programs. Duflo, who officially found out about the medal via a phone call earlier today, says she regards the medal as “one for the team,” meaning the many researchers who have contributed to the renewal of development economics. “This is a great honor,” Duflo told MIT News. “Not only for me, but my colleagues and MIT. Development economics has changed radically over the last 10 years, and this is recognition of the work many people are doing.” The American Economic Association, which gives the Clark medal to the top economist under age 40, said Duflo had distinguished herself through “definitive contributions” in the field of development economics. -
Sendhil Mullainathan [email protected]
Sendhil Mullainathan [email protected] _____________________________________________________________________________________ Education HARVARD UNIVERSITY, CAMBRIDGE, MA, 1993-1998 PhD in Economics Dissertation Topic: Essays in Applied Microeconomics Advisors: Drew Fudenberg, Lawrence Katz, and Andrei Shleifer CORNELL UNIVERSITY, ITHACA, NY, 1990-1993 B.A. in Computer Science, Economics, and Mathematics, magna cum laude Fields of Interest Behavioral Economics, Poverty, Applied Econometrics, Machine Learning Professional Affiliations UNIVERSITY OF CHICAGO Roman Family University Professor of Computation and Behavioral Science, January 1, 2019 to present. University Professor, Professor of Computational and Behavioral Science, and George C. Tiao Faculty Fellow, Booth School of Business, July 1, 2018 to December 31, 2018. HARVARD UNIVERSITY Robert C Waggoner Professor of Economics, 2015 to 2018. Affiliate in Computer Science, Harvard John A. Paulson School of Engineering and Applied Sciences, July 1, 2016 to 2018. Professor of Economics, 2004 (September) to 2015. UNIVERSITY OF CHICAGO Visiting Professor, Booth School of Business, 2016-17. MASSACHUSETTS INSTITUTE OF TECHNOLOGY Mark Hyman Jr. Career Development Associate Professor, 2002-2004 Mark Hyman Jr. Career Development Assistant Professor, 2000-2002 Assistant Professor, 1998- 2000 SELECTED AFFILIATIONS Co - Founder and Senior Scientific Director, ideas42 Research Associate, National Bureau of Economic Research Founding Member, Poverty Action Lab Member, American Academy of Arts -
Connections in Transportation Department of Urban Studies and Planning, MIT, Spring 2015
Behavior and Policy 11.478 Behavior and Policy: Connections in Transportation Department of Urban Studies and Planning, MIT, Spring 2015 Full Reading List Part I: Behavior and Policy in a Nutshell Class 1. Cafeteria Trays and Multiple Frameworks • Etheredge (1976) The case of the unreturned cafeteria trays: An Investigation based upon theories of motivation and human behavior Class 2. Ten Instruments for Behavioral Change • Miller and Prentice (2013) Psychological Levers of Behavior Change, Chapter 17 in Eldar Shafir, The Behavioral Foundations of Public Policy • Richard Thaler, Cass R. Sunstein: Nudge: Improving Decisions About Health, Wealth, and Happiness, Introduction • Daniel Kahneman: Thinking, Fast and Slow, Introduction Class 3. Measurement, Tools and Technology (Emile Bruneau) • Emile Bruneau 2015 "Putting Neuroscience to Work for Peace”, Working Paper • Duflo, E., Glennerster, R., & Kremer, M. (2007). Using randomization in development economics research: A toolkit. Handbook of development economics, 4, 3895-3962. • Greenwald, A. G., Nosek, B. A., & Banaji, M. R. (2003). Understanding and using the implicit association test: I. An improved scoring algorithm. Journal of personality and social psychology, 85(2), 197. You may try the Implicit Association Test here https://implicit.harvard.edu/ • Winter Mason and Siddharth Suri (2012) Conducting Behavioural Research on Amazon’s Mech Turk, Behavior Research Method 44(1) Class 4. My Brain at the Bus Stop: EEG & Waiting • Dan Ariely and Gregory S. Berns (2010), “Neuromarketing: The Hope and Hype of Neuroimaging in Business.” Nature Reviews Neuroscience. • Li, Zelin, F. Duarte, J. Zhao, Z. Zhao (2015) My brain at the bus stop: an exploratory framework for applying EEG-based emotion detection techniques in transportation study, working paper Class 5. -
Chapter 4: Conceptual Illusions
CHAPTER 4: CONCEPTUAL ILLUSIONS In this chapter we will consider some fallacies and peculiarities of the way we reason. We’ll briefly consider the fallacy of denying the evidence and then confirmation bias, the paradox of choice, the conjunction fallacy and implicit bias. 1 DENYING THE EVIDENCE My scale is broken. It shows a higher figure every day so I have to keep adjusting it down. 2 CONFIRMATION BIAS "It is the peculiar and perpetual error of the human understanding to be more moved and excited by affirmatives than by negatives." --Francis Bacon Confirmation bias refers to a type of selective thinking whereby one tends to notice and to look for what confirms one's beliefs, and to ignore, not look for, or undervalue the relevance of what contradicts one's beliefs. For example, if you believe that during a full moon there is an increase in admissions to the emergency room where you work, you will take notice of admissions during a full moon, but be inattentive to the moon when admissions occur during other nights of the month. A tendency to do this over time unjustifiably strengthens your belief in the relationship between the full moon and accidents and other lunar effects. 52 This tendency to give more attention and weight to data that support our beliefs than we do to contrary data is especially pernicious when our beliefs are little more than prejudices. If our beliefs are firmly established on solid evidence and valid confirmatory experiments, the tendency to give more attention and weight to data that fit with our beliefs should not lead us astray as a rule.