Matching Items (5)
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- All Subjects: Behavioral Economics
- Creators: Economics Program in CLAS
Description
In recent years, the number of applications for admission to graduate education programs has increased. Researchers attempted to gain insight into this increase by examining student perception of the costs and benefits of pursuing graduate-level education. In order to gauge this perception, researchers administered an online survey to 151 subjects from Barrett, the Honors College at Arizona State University. Student perception was then compared to data released by ASU detailing actual costs and benefits of obtaining graduate-level education. Researchers' prediction that increased levels of parental education would be associated with more accurate estimates of the benefits of graduate-level education was correct at a statistically significant level. Further, being male was statistically significantly associated with an increase in starting salary overestimation.
ContributorsCunningham, Shelly Kathryn (Author) / DeSerpa, Allan (Thesis director) / Baldwin, Marjorie (Committee member) / Barrett, The Honors College (Contributor) / Economics Program in CLAS (Contributor) / Department of Psychology (Contributor)
Created2015-05
Description
Evolutionary theory predicts that animal behavior is generally governed by decision rules (heuristics) which adhere to ecological rationality: the tendency to make decisions that maximize fitness in most situations the animal encounters. However, the particular heuristics used by ant colonies of the genus Temnothorax and their propensity towards ecological rationality are up for debate. These ants are adept at choosing a nest site, making a collective decision based on complex interactions between the many individual choices made by workers. Colonies will migrate between nests either upon the destruction of their current home or the discovery of a sufficiently superior nest. This study offers a descriptive analysis of the heuristics potentially used in nest-site decision-making. Colonies were offered a choice of nests characterized by the Ebbinghaus Illusion: a perceptual illusion which effectively causes the viewer to perceive a circle as larger when it is surrounded by small circles than when that same circle is surrounded by large circles. Colonies were separated into two conditions: in one, they were given the option to move to a high-quality nest surrounded by poor-quality nests, and in the other they were given the option to move to a high-quality nest surrounded by medium-quality nests. The colonies in the poor condition were found to be more likely to move to the good nest than were colonies in the medium condition at a statistically significant level. That is, they responded to the Ebbinghaus Effect in the way that is normally expected. This result was discussed in terms of its implications for the ecological rationality of the nest-site choice behavior of these ants.
ContributorsTalken, Lucas Warren (Author) / Pratt, Stephen (Thesis director) / Sasaki, Takao (Committee member) / Liebig, Juergen (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Psychology (Contributor) / Economics Program in CLAS (Contributor)
Created2014-05
Description
A desk provides an interesting forum between two people. The first party sits behind the desk while the second approaches with a question. The desk presents itself as a stage for the drama of that conversation to take place; as all furniture and property do, we naturally make assumptions about the owner based on the things they possess. Just as a Ferrari says one thing while a truck says something different, our furniture conveys a similar sensation. The desk is special because it acts as a stage - it can create a very subtle first impression of the person who owns it. The question then becomes, "what should I try to convey through the desk I sat behind?". If someone walked into my office and looked strictly at my desk, what impression would I want to give them about who I am as an individual? I conjunction with this question about the design of the desk itself comes to another question about the materials used. This thesis goes into the symbolic nature of wood in modern and ancient times across cultures, explores wood in modern construction today and explores the source of the wood used in this specific project through a supplier analysis of Porter Barn Wood. Porter Barn Wood is a local Phoenix company that specializes in reclaimed barn wood delivered from the east coast. Determining the story of how the wood got to Phoenix and to the company that made it possible was just as important to the story of the desk as the wood itself. Overall, this project explored my ability to construct a desk and build a story around that piece of art while maintaining a business mindset throughout. It was eye-opening to me and I would encourage you to read further!
ContributorsDuran, Alejandro Michael (Author) / Vitikas, Stanely (Thesis director) / Fleming, David (Committee member) / Economics Program in CLAS (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
The field of behavioral economics explores the ways in which individuals make choices under uncertainty, in part, by examining the role that risk attitudes play in a person’s efforts to maximize their own utility. This thesis aims to contribute to the body of economic literature regarding risk attitudes by first evaluating the traditional economic method for discerning risk coefficients by examining whether students provide reasonable answers to lottery questions. Second, the answers of reasonable respondents are subject to our economic model using the CRRA utility function in which Python code is used to make predictions of the risk coefficients of respondents via a two-step regression procedure. Lastly, the degree to which the economic model provides a good fit for the lottery answers given by reasonable respondents is discerned. The most notable findings of the study are as follows. College students had extreme difficulty in understanding lottery questions of this sort, with Medical and Life Science majors struggling significantly more than both Business and Engineering majors. Additionally, gender was correlated with estimated risk coefficients, with females being more risk-loving relative to males. Lastly, in regards to the model’s goodness of fit when evaluating potential losses, the expected utility model involving choice under uncertainty was consistent with the behavior of progressives and moderates but inconsistent with the behavior of conservatives.
ContributorsSansone, Morgan Marie (Author) / Leiva Bertran, Fernando (Thesis director) / Vereshchagina, Galina (Committee member) / Economics Program in CLAS (Contributor) / School of Politics and Global Studies (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
This paper analyzes responses to a survey using a modified fourfold pattern of preference to determine if implicit information, once made explicit, is practically significant in nudging irrational decision makers towards more rational decisions. Respondents chose between two scenarios and an option for indifference for each of the four questions from the fourfold pattern with expected value being implicit information. Then respondents were asked familiarity with expected value and given the same four questions again but with the expected value for each scenario then explicitly given. Respondents were asked to give feedback if their answers had changed and if the addition of the explicit information was the reason for that change. Results found the addition of the explicit information in the form of expected value to be practically significant with ~90% of respondents who changed their answers giving that for the reason. In the implicit section of the survey, three out of four of the questions had a response majority of lower expected value answers given compared to the alternative. In the explicit section of the survey, all four questions achieved a response majority of higher expected value answers given compared to the alternative. In moving from the implicit to the explicit section, for each question, the scenario with lower expected value experienced a decrease in percentage of responses, and the scenario with higher expected value and indifference between the scenarios both experienced an increase in percentage of responses.
ContributorsJohnson, Matthew (Author) / Goegan, Brian (Thesis director) / Foster, William (Committee member) / School of Sustainability (Contributor) / Economics Program in CLAS (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05