Matching Items (3)
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- All Subjects: risk
- Creators: Schlee, Edward
- Creators: Appel, Christy
Description
Economists, political philosophers, and others have often characterized social preferences regarding inequality by imagining a hypothetical choice of distributions behind "a veil of ignorance". Recent behavioral economics work has shown that subjects care about equality of outcomes, and are willing to sacrifice, in experimental contexts, some amount of personal gain in order to achieve greater equality. We review some of this literature and then conduct an experiment of our own, comparing subjects' choices in two risky situations, one being a choice for a purely individualized lottery for themselves, and the other a choice among possible distributions to members of a randomly selected group. We find that choosing in the group situation makes subjects significantly more risk averse than when choosing an individual lottery. This supports the hypothesis that an additional preference for equality exists alongside ordinary risk aversion, and that in a hypothetical "veil of ignorance" scenario, such preferences may make subjects significantly more averse to unequal distributions of rewards than can be explained by risk aversion alone.
ContributorsTheisen, Alexander Scott (Co-author) / McMullin, Caitlin (Co-author) / Li, Marilyn (Co-author) / DeSerpa, Allan (Thesis director) / Schlee, Edward (Committee member) / Baldwin, Marjorie (Committee member) / Barrett, The Honors College (Contributor) / Department of Economics (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor)
Created2014-05
Description
I began this thesis because I was confused about economics. I wondered why there were so many different models. I didn't understand how they fit together. I was also confused by the assumptions being made. For instance, the assumption that humans are rational utility-maximizers did not seem to agree with my own experiences. With my director Dr. Edward Schlee's help, my thesis has become an inquiry into the state of economic methodology, both in theory and in practice. The questions that drive this paper are: How do economists choose between theories? What is the purpose of economic theory? What is the role of empirical data in assessing models? What role do assumptions play in theory evaluation, and should assumptions make sense? Part I: Methodology is the theoretical portion of the paper. I summarize the essential arguments of the two main schools of thought in economic methodology, and argue for an updated methodology. In Part II: A case study: The expected utility hypothesis, I examine methodology in practice by assessing a handful of studies that seek to test the expected utility hypothesis. Interestingly, I find that there is a different between what economists say they are doing, and what they actually seem to be doing. Throughout this paper, I restrict my analysis to microeconomic theory, simply because this is the area with which I am more familiar. I intend this paper to be a guide for my fellow students and rising economists, as well as for already practicing economists. I hope it helps the reader better understand methodology and improve her own practice.
ContributorsKang, Dominique (Author) / Schlee, Edward (Thesis director) / Schoellman, Todd (Committee member) / Boerner, Rochus (Committee member) / Barrett, The Honors College (Contributor)
Created2013-05
Description
Cardiovascular disease (CVD) is the primary killer of Americans. As such, alternative means of a dietary approach to preventing or mitigating the development of CVD is clearly needed in addition to the ongoing recommendation for increased consumption of fruits and vegetables. Many studies suggest that fungi have the potential to decrease morbidity and mortality associated with CVD. Specifically, white button mushrooms, viz., Agaricus bisporus, are fairly common and inexpensive and full of untapped possibilities for efficacy although much additional research is needed. With antioxidants, e.g., selenium, and beta-glucans, viz., indigestible polysaccharides, white button mushrooms contain a plethora of bioactive ingredients that confer a potentially strong tool against the debilitating social impact of CVD.
The objective of this thesis was to establish protocols and a valid experimental design for testing whether dietary mushrooms could, in fact, be protective against CVD risk. Specifically, a case-study approach was used to validate this experimental method to test white button mushrooms and their impact on blood lipid levels and the inflammatory response. This dietary study involved preparation of two soups: a placebo, broth-based soup and one with one cup of white button mushrooms per cup of soup to provide one and a half cups of soup (and mushrooms) per day to each participant. The soup was prepared in The Kitchen Café at the ASU Downtown Campus (Phoenix, AZ).
After preparing the soup, the next goal was recruitment through listserv, local advertisements, flyers, and word of mouth of participants to test the overall plan. Over fifteen people responded; however, only one candidate met the inclusion criteria of someone at high risk of developing CVD and agreed to participate in the study. The participant visited the nutrition laboratory in downtown Phoenix (550 N. 5th Street). Anthropometric data and an initial blood draw were completed, and fourteen 1.5 cup containers of mushroom soup were dispensed to the participant. After two weeks, the individual returned and the same procedures were executed to include anthropometry and blood analysis. Even though the subject did not show changes in blood markers of CVD risk (lipids and inflammatory markers), the hypothesis for the thesis that the study design would be effective was accepted. Thus, the procedure was successful and validated and will be used in the future study.
The objective of this thesis was to establish protocols and a valid experimental design for testing whether dietary mushrooms could, in fact, be protective against CVD risk. Specifically, a case-study approach was used to validate this experimental method to test white button mushrooms and their impact on blood lipid levels and the inflammatory response. This dietary study involved preparation of two soups: a placebo, broth-based soup and one with one cup of white button mushrooms per cup of soup to provide one and a half cups of soup (and mushrooms) per day to each participant. The soup was prepared in The Kitchen Café at the ASU Downtown Campus (Phoenix, AZ).
After preparing the soup, the next goal was recruitment through listserv, local advertisements, flyers, and word of mouth of participants to test the overall plan. Over fifteen people responded; however, only one candidate met the inclusion criteria of someone at high risk of developing CVD and agreed to participate in the study. The participant visited the nutrition laboratory in downtown Phoenix (550 N. 5th Street). Anthropometric data and an initial blood draw were completed, and fourteen 1.5 cup containers of mushroom soup were dispensed to the participant. After two weeks, the individual returned and the same procedures were executed to include anthropometry and blood analysis. Even though the subject did not show changes in blood markers of CVD risk (lipids and inflammatory markers), the hypothesis for the thesis that the study design would be effective was accepted. Thus, the procedure was successful and validated and will be used in the future study.
ContributorsBratrud, Kathryn Michelle (Author) / Martin, Keith (Thesis director) / Appel, Christy (Committee member) / Shepard, Christina (Committee member) / Barrett, The Honors College (Contributor) / T. Denny Sanford School of Social and Family Dynamics (Contributor) / School of Nutrition and Health Promotion (Contributor)
Created2013-05