In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, and the Bulletin on Health — as well as online conference reports, video lectures, and interviews. In the 1976 book The Economic Approach to Human Behavior, the economist Gary S. Becker famously outlined a number of ideas known as the pillars of so-called ‘rational c… (1979). Good behavioral economics topics cover subjects such as bounded rationality, irrational exuberance, and choice architecture. 1 Although behavioral finance is a much younger field than economics, significant research has been conducted to develop behavioral finance since its inception in the late 1970s. International Encyclopedia of SocialSciences, Pergamon Press, 1st edition, October 1, 2001: 1094-1100. Past Behavioral Science Conferences: 2014, 2013, 2011, 2010, 2009. Bounded willpower captures the fact that people sometimes make choices that are not in their long-run interest. They strongly depend on (a) responders’ concerns for equity as well as (b) strategic considerations of proposers. Furthermore, changing behavior through nudging is clearly linked to the values associated with the different behavior options. Journal of Business. On the same page, not only knowing about others’ behavior but also about others’ outcomes may affect how individuals act. Knowledge of experimental economics generally, and the behavioral bias, heterogenous agents model, asset pricing and decision making in the financial market in particular Ability to conduct independent economic research and assume responsibility for the development and completion of research papers Bounded self-interest incorporates the comforting fact that humans are often willing to sacrifice their own interests to help others. The foundation’s Behavioral Economics program supports research that uses insights and methods from psychology, economics, sociology, political science and other social sciences to examine and improve social and living conditions in the United States. Because values for desirable outcomes may vary across different groups, societies, and cultures, arguments regarding the value dependence of nudging highlight that the direction of the nudging influence is strongly dependent on cultural goals and values. Thaler and Sunstein call this type of nudging a form of libertarian paternalism. It is needless to say that “system 2” is effortful and requires significant cognitive resources. 2008, Farmer 2006, Farmer and Foley 2009, Gatti et al. Because of limits of arbitrage less than perfect agents survive and influence market outcomes. In their “theory of equity, reciprocity, and competition,” Bolton and Ockenfels (2000) use various economic games to explain that human behavior is not only motivated by pecuniary outcomes that one receives, but also by the relation of one’s own outcome to the outcomes of others. No. Bolton, G. E., & Ockenfels, A. Cialdini, R. B., Reno, R. R., & Kallgren, C. A. British Journal of Health Psychology, 19, 52–64. Ashraf, N., Camerer, C. F., & Loewenstein, G. (2005). It is concerned with the psychological basis of the economic behaviors of individuals, and the impacts of economic processes on individuals' psychology. Recent research in behavioral psychology Behavioral economics explores what affects people’s economic decisions and the consequences of those decisions for market prices, returns, and resource allocation. In 1979, Kahneman and Tversky published a seminal paper, which presented their “prospect theory” (Kahneman and Tversky 1979; Messick and Tenbrunsel 1996). "The Psychology and Economics Conference Handbook: Commentary on papers by H. Simon, H. Einhorn and R. Hogarth, and A. Tversky and D. Publications and Forthcoming Papers. Loss aversion. You see, the ends don’t justify the means visual imagery and moral judgment. Fair is not fair everywhere. S.E.G. This standard economic assumption would result in the predictions that the responder should accept any offer that leaves him or her with an amount larger than zero. In an ideal world, defaults, frames, and price anchors would not have any bearing on consumer choices. RSF is especially interested in research at the intersection of behavioral economics and behavioral sciences and its other programs—Future of Work; Race, Ethnicity and Immigration; Social, Political and Economic Inequality. View Behavioral Economics Research Papers on Academia.edu for free. Fisher and Pareto revisited this idea during the Great Depression in the twentieth century, trying to account for the stock market crash of 1929 by highlighting the human factor in economic decision-making. People are generally more lenient on Company X in the second case, where Company Y raised the price, despite equal outcomes in both situations and the fact that Company X sold the drug knowing the price would increase. This process drew mostly on my own knowledge and research and required a certain amount of subjective judgment as to what constituted a 'behavioral economic' paper and what did not. In sum, behavioral economics explores what affects people’s economic decisions and the consequences of those decisions for market prices, returns, and resource allocation. Adam M. Lavecchia, Heidi Liu & Philip Oreopoulos. Notably, it does not necessarily impair decision accuracy. (1990) observed the littering behavior of individuals in a public environment that was either clean or full of litter. Individuals typically follow these norms for social reasons such as building and maintaining interpersonal relationships. Scholars such as Adam Smith talked about such key concepts as loss aversion, overconfidence, and self-control. There is a growing number of researchers developing ‘agent-based’ models and ‘behavioural’ macroeconomic models (Alfarano et al. In the clean environment, the absence of litter described that no littering was the norm. This finding constitutes one example of how prevailing descriptive norms can guide human behavior. Lectures. This raises questions about the ethicality of intentionally manipulating people’s choice architecture to elicit specific decision outcomes, even good outcomes (Thaler and Sunstein 2009). Priority will be given to field experiments, as opposed to lab experiments. No. A compilation of behavioural economics research topics are provided to assist the reader in choosing a relevant topic to start his writing process. This difference is, for example, observable in children’s behavior. Fragile Self Esteem (with Botond Kőszegi and Takeshi Murooka). Annual Review of Psychology, 59, 255–278. Amit, E., & Greene, J. D. (2012). Paharia, N., Kassam, K. S., Greene, J. D., & Bazerman, M. H. (2009). Harvard Business School. Research Interests. Some papers pursue better understanding of how individuals decide, particularly about economic transactions. Kahneman, D. (2011). Free research papers are not written to satisfy your specific instructions. Psychological Science, 23(8), 861–868. Psychological Bulletin, 119, 3–22. Downloadable (with restrictions)! Research paper in behavioral economics. 240 Benefit and Harm. Interestingly, apart from such injunctive norms, the mere description of what other individuals do in specific situations also forcefully shapes human behavior (Cialdini et al. Situational forces do not just affect the decision-making of individuals; they also affect how we judge the decisions of others. ERC: A theory of equity, reciprocity, and competition. This article reviews some of the behavioral concepts in economics that are most likely to inform education research and policy—prospect theory, framing effects, status quo bias, paradox of choice, and intrinsic motivation—and suggests directions for further research. Further study is needed on the intersections of bioethics and behavioral ethics to better understand the implications and impact each field can have on the other. Messick, D. M., & Tenbrunsel, A. E. (1996). 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