Alexander L. Brown’s research while affiliated with Texas A&M University and other places

... Gender also plays a role; women are often found to be more risk-averse and less confident investors than men (Olsen & Cox, 2001;Deo & Sundar, 2015). Educational attainment is linked to a greater ability to mitigate biases like mental accounting and loss aversion (Silva et al., 2023;Brown et al., 2024). Similarly, income levels can influence how individuals approach risk and status quo bias, with higher income often associated with better access to information and resources, potentially reducing resistance to change (Godefroid et al., 2023). ...

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Behavioral Biases in Islamic Retail Investing: The Moderating Role of Demographics

... As for the participants in the various studies cited, most focused on public transport users. In this case, frequent public transport users tended to continue using the same mode of transport during the pandemic (Burris et al., 2023;Downey et al., 2022;Esmailpour et al., 2022). When studies include private vehicle users, their perception of public transport quality tends to be lower compared to that of public transport users (Ismael et al., 2023). ...

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Analysing bus users’ perceptions of service quality during the COVID-19 pandemic. A case study of Gran Canaria (Spain)

... Li (2020) models agents who avoid partial information. Falk and Zimmermann (2016) run an experiment where subjects usually prefer information sooner depending on context, and Brown, Gui, and Je (2022) and Nielsen (2020) conduct experiments to test demand for non-instrumental information. In a related theoretical contribution, Gul, Natenzon, and Pesendorfer (2021) introduce the concept of random lotteries to model agents who prefer non-instrumental information. ...

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Reinterpreting Delay and Procrastination

... After scrutinising the responses and discarding incomplete responses, 170 valid responses were used for the study. Previous studies used survey data of similar sample sizes (103-133 responses) for their studies (Ashraf et al., 2022;Sam et al., 2018;Yuen et al., 2018). Although the sample size is small, it is deemed reasonable for use in regression and machine learning analysis based on the rule of thumb in statistics (Wilson Van Voorhis and Morgan, 2007). ...

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Examining urban delivery service user profiles and determinants of drone delivery adoption in Ghana considering usage before and after the COVID-19 pandemic

... As the safe option had a lower expected value ($2.00), it would be rational to bet on every trial. However, given the known risk-averse preferences of human agents in such settings [28,29], we anticipated that participants would bet less frequently than would be rational according to this strategy. ...

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Influences of familiarity and recollection on value-based decision-making

... While the experimental estimates of λ are typically in the range 1.8-2.3 (see [34] for a recent meta-analysis) and α is typically estimated to be in the neighborhood of 0.9, Table 2 reports the optimal asset allocation for a much wider range of parameters. This allows us to examine the robustness of the results to the parameter values, and to address the issue of possible heterogeneity among PT investors (as the parameter estimates are only population averages). ...

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Prospect theory, constant relative risk aversion, and the investment horizon

... Two important mechanisms, shown in previous research on gift-exchange experiments, are trust and positive reciprocity: Principals offer wages above Nash-equilibrium wages (under money maximization; see Section 2), and agents respond with effort levels that increase in the wage offered ('gift exchange' e.g., Fehr et al., 1993Fehr et al., , 1997Hannan, Kagel & Moser, 2002; see also Cooper & Kagel, 2016). Agents may also be motivated by negative reciprocity -that is, a willingness to punish principals if the OC is unfavorable for the agent (see and also the large literature on rejections of unfair offers in ultimatum games (e.g., Güth & Kocher, 2014;Lin et al., 2020). Negative reciprocity may result in rejecting the contract or in choosing minimal effort after the contract has been accepted. ...

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Incentives crowd out voluntary cooperation: evidence from gift-exchange experiments

... Inexperienced participants present a tendency to bid below the Nash equilibrium which leads to underbidding, whereas experience is associated with decreased tendencies to overbid, which suggests that there is a learning curve (Stephenson and Brown, 2021). The Cobb-Douglas utility function has been applied by (Tan and Liu, 2022) to illustrates how bidders' preferences between winning probabilities and profit maximization influence their decisions, potentially leading to strategic overbidding or underbidding. ...

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Optimizing Price Markup: The Impact of Power Purchase Agreements and Energy Production Uncertainty on the Economic Performance of Onshore and Offshore Wind Farms

... however, while existing literature extensively explores the determinants and implications of investment efficiency (e.g. hovakimian, 2011;lovallo et al., 2020;Zhao, 2021), there remains a notable gap in understanding its direct consequences on innovation, especially within the context of multi-business firms. Multi-business firms, also referred to as diversified firms or conglomerates, are organizations that operate in multiple industries or business segments simultaneously. ...

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Enhancing R&D investments through investment efficiency in multi-business firms: the roles of cash holdings and growth opportunities

... Market experiments conducted mid twentieth century (Chamberlin, 1948;Smith, 1962) established the stability, efficiency, and robustness of markets for perishable goods under notably the double-auction market institution (Smith, 1962). These laboratory results are now well-known (reviewed, e.g., in Plott, 1982;Smith, 1982;Smith & Williams, 1990), have been replicated many times around the world (Lin et al., 2020), and motivated a few neoclassical models of price equilibration in double-auction markets (Wilson, 1987;Friedman, 1991;Cason & Friedman, 1996;S. Gjerstad & Dickhaut, 1998;Anufriev et al., 2013;Asparouhova et al., 2020). ...

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Perishable Goods versus Re-tradable Assets: A Theoretical Reappraisal of a Fundamental Dichotomy