Science topic

Behavioural Economics - Science topic

Behavioral economics and the related field, behavioral finance, study the effects of social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and the resource allocation. The fields are primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory. In so doing they cover a range of concepts, methods, and fields.Behavioral analysts are not only concerned with the effects of market decisions but also with public choice, which describes another source of economic decisions with related biases towards promoting self-interest.
Filters
All publications are displayed by default. Use this filter to view only publications with full-texts.
Publications related to Behavioural Economics (2,813)
Sorted by most recent
Article
Full-text available
Purpose of Review This scoping review summarises the literature on HIV prevention and management interventions utilizing behavioural economic principles encapsulated in the MINDSPACE framework. Recent Findings MINDSPACE is an acronym developed by the UK’s behavioural insights team to summarise nine key influences on human behaviour: Messenger, Inc...
Article
Full-text available
Introduction: Behavioural economics postulates two processes: gains and loss, in this study are evaluated with the benefits and costs of condom use. Objective: Determined the psychometric properties (validity and internal consistency) of an instrument to measure gains and losses to use condoms in a sample of Mexican university students. Method: Gai...
Article
Full-text available
The paper deals with the protection of the private and public spheres in surveillance capitalism. Predictions on consumer behaviour or the so-called behavioural surpluses are extracted from the set of collected (big) data of users/consumers from the so-called digital footprints, which become intelligence data, commodities on the data market. In add...
Article
Full-text available
Using prospect theory as our core descriptive model of the decision-making process, we explore how behavioural economics can be used to expand what can be said about terrorist behaviour and align the inferences about terrorist behaviour that have been drawn from a diverse collection of disciplines. Prospect theory played a key role in the emergence...
Conference Paper
Full-text available
Models of existing evaluation metrics assume that users are ratio- nal decision-makers trying to pursue maximised utility. However, studies in behavioural economics show that people are not always rational when making decisions. Previous studies showed that the anchoring effect can influence the relevance judgement of a docu- ment. In this paper, w...
Book
Full-text available
The book ‘Heterodox Economics’ includes collection of research articles from broad areas such as Industrial Economics, Gender Economics, Urban Economics, Tourism Economics, Behavioural Economics, Labour Economics, Economics of Education, Political Economy, Economics of Innovation, Development and Environmental Economics. The label of heterodox ec...
Research
Full-text available
Behavioural finance is comparatively a new field of study. In this, an attempt is made to determine why people make irrational financial decisions by combining behaviour and cognitive psychology principles with traditional and emotional finance. Behavioural finance is the combination of three domains, Human behaviour, Economics and Finance and Soci...
Article
Full-text available
The world has gone through unprecedented changes since the global pandemic hit. During the early phase of the pandemic, the absence of known drugs or pharmaceutical treatments forced governments to introduce different policies in order to help reduce contagion rates and manage the economic consequences of the pandemic. This paper analyses the causa...
Article
Full-text available
Background Adolescence is a period of psychological and neural development in which harms associated with cannabis use may be heightened. We hypothesised that adolescent who use cannabis (adolescentsWUC) would have steeper delay discounting (preference for immediate over future rewards) and greater demand (relative valuation) for cannabis than adul...
Article
Full-text available
Background: Workplace violence is internationally recognised as a major concern for the workforce, which entails serious consequences, and research shows that medical residents are more likely than other doctors to experience violence in the workplace. This study first examines the effectiveness of simulation-based medical education, and then simu...
Technical Report
Full-text available
This report provides a more comprehensive list of factors that should be considered to enhance the effectiveness of cybersecurity awareness programmes, in particular, to motivate people to adopt cybersecurity awareness and translate the message (security recommendations) or learned things into actions and behaviour. The list integrates factors from...
Technical Report
Full-text available
1-Establish a culture that would appreciate and realise what and why inspiration economy helps to improve organisational behavioural economics and design thinking. 2- Learn how to shift to grow based economy practices to development based economy practices. 3- More intensively Explore an inspiration based mindset that utilise the organisation intri...
Article
Full-text available
Microeconomic modelling offers a powerful formal toolbox for analysing the complexities of real-world intergroup relations and conflicts. One important class of models scrutinizes individuals’ valuations of different group memberships, attitudes towards members of different groups and preferences for resource distribution in group contexts. A secon...
Article
Full-text available
Behavioural economics is a comparatively recent topic that challenges the mainstream economics’ basic assumptions. It emphasizes that humans aren't always rational, aren't always self-interested, and don't always have time-consistent preferences. A sin tax is a type of sumptuary tax that is imposed on some typically socially prohibited items and se...
Article
Full-text available
Many people find it difficult to start and maintain a retirement savings plan. We show how nudges can be used both to encourage people to save enough to provide an acceptable standard of living in retirement and to draw down their accumulated pension fund to maximize retirement spending, without the risk of either running out of money or leaving un...
Research
Full-text available
Ethiopia’s recent experiment with a developmental state model delivered double-digit economic growth and significant expansion of public services for nearly two decades. However, a wave of violent protests that began in 2014 culminated in a leadership change and the termination of the developmental experiment in 2018 as well as a regionalised civil...
Book
Full-text available
The author's latest work charts feasible pathways for firms to flourish under dynamic and transitioning energy systems Dynamic Decisions responds to addressing wicked problems that confront real people. Critiqued by two of modern financial economics' leading thinkers, Avinash Dixit and Barry Nalebuff see some managers as behaving like woodcutters w...
Preprint
Full-text available
Many households lack savings to cushion them from financial shocks. While behavioural economics offers insights into why some households who want to save may fail to do so, successful behavioural interventions to increase precautionary saving are elusive. We incorporated multiple evidence-based "nudges" and "boosts" into a savings account applicati...
Article
Full-text available
Introduction: Although the Food and Drug Administration banned other characterising flavours in cigarettes, menthol cigarettes are still available to consumers. Young adult new smokers are initiating with menthol cigarettes, such that the prevalence of young adults menthol versus non-menthol smokers is increasing. Experimentation with menthol ciga...
Technical Report
Full-text available
Following Russia’s invasion of Ukraine, the risk of a prolonged physical supply shortage of natural gas is higher than ever before. While European Union (EU) institutions and member states are discussing the possibility of imposing an embargo or a gradual phase-out in this sector, an abrupt shortage may result from a political decision on the suppl...
Article
Full-text available
Background We explore cognitive and behavioural biases that influence individual’s willingness to engage advance care planning (ACP). Because contexts for the initiation of ACP discussions can be so different, our objective in this study was to identify specific groups, particular preferences or uniform behaviours, that may be prone to cognitive bi...
Book
Full-text available
Economic survey (2019) suggested that behavioural techniques can help to achieve desirable outcomes from subsidy programs and in turn reduce the effective costs of subsidy. The survey pinpoints the policy development for Homo Sapiens, not Homo Economicus, and quoted the necessity of leverage the Behavioural Economics of “Nudge”. Also, it outlines a...
Article
Full-text available
The fundamental prerequisite of decision making is how to aggregate individual expert’s preference information. For constructing various aggregation operators on intuitionistic fuzzy set, various kinds of t-norms and co-norms are the most significant tools. This work takes a closer look on various fuzzy triangular norms and uses them for the first...
Article
Full-text available
Humans and other animals are capable of inferring never-experienced relations (for example, A > C) from other relational observations (for example, A > B and B > C). The processes behind such transitive inference are subject to intense research. Here we demonstrate a new aspect of relational learning, building on previous evidence that transitive i...
Article
Full-text available
Behavioural economics offers an account of actual human behaviour. Contrasting with the conventional normative approach to rationality, rational choice theory, describes the deviations from optimal decision making. These are attributed to failures in two systems, one in charge of automatic behaviour (System 1) and the other responsible for reflecti...
Article
Full-text available
I reconsider Bleichrodt, Pinto Prades and Wakker’s (BPW) 2001 paper about eliciting utility measures from stated preference surveys. That paper pioneers a method that is now widely used in behavioural economics to correct individuals’ ‘biases’ and to recover their ‘true preferences’. However, BPW propose this method as way of dealing with inconsist...
Article
Full-text available
This research explores the demand-side management strategy of using the built environment for short-term thermal energy storage, here conceptualised as a niche innovation within the socio-technical Danish district heating landscapes. In particular, the research explores perceptions of this niche innovation among district heating sector professional...
Article
Full-text available
A popular rule of thumb, usually called “heuristic technique” in Behavioral Economics, for determining the likelihood insensitivity regions of probability weighting functions (pwf’s) is based on searching for points at which the pwf’s are twice their values at half the points. Although this technique works remarkably well for many commonly used pwf...
Article
Full-text available
Price discovery is an important research topic in real estate due to the heterogeneous nature of housing attributes and relatively thin trading activities compared to other assets. In Commonwealth countries, including New Zealand, governments usually conduct periodic appraisals for the purpose of collecting rates and levies. Such official appraisal...
Article
Full-text available
The default assumption of standard economics is to treat preferences as exogenously ‘given’, consistent with one another, ‘revealed’ by past choices, and context independent. There has been increased interest recently (within behavioural economics) in the impact of inconsistent or irrational preferences and (more broadly) in dynamic and endogenous...
Article
Full-text available
Research interest in the reaction of consumption to expected inflation has increased in recent years due to efforts by central banks to kick-start demand by steering inflation expectations. We contribute to this literature by analysing whether various components of households’ balance sheets determine how consumption reacts to expected inflation. T...
Preprint
Full-text available
Tourists can harm the environment of the destination they visit in many different ways, such as using disposable products, consuming excess water and energy, not reusing towels in accommodation facilities, avoiding recycling, among other ways. The urgent need to protect destination environments from tourist misbehaviour has led academic experts and...
Article
Full-text available
Rationale Deficits in cost–benefit decision-making are a core feature of several psychiatric disorders, including substance addiction, eating disorders and bipolar disorder. Mesocorticolimbic dopamine signalling has been implicated in various processes related to cognition and reward, but its precise role in reward valuation and cost–benefit trade-...
Article
Full-text available
•We searched PubMed, PsycInfo and EconLit for RCTs that evaluated BE interventions in CRC screening.•We identified 1027 papers for title and abstract review. 30 studies were eligible for the review.•The most frequently tested BE intervention was incentives, followed by default principle and salience.•Default-based interventions were most likely to...
Article
Full-text available
Policymakers and scientists are paying increasing attention to how social norms can promote pro-environmental behaviour and sustainable energy use. We contribute to this field by experimenting with and assessing the impacts of social norms on low-carbon mobility options. Taking Sweden as a case study, we develop two complementary randomised control...
Article
Full-text available
We make the case for further advancing cultural economics through the application of behavioural economics methods and insights. Behavioural economics offers a reconciliation of two distinct strands within cultural economics, one that observes neoclassical economic method, and one that affirms the abundant psychological aspects of cultural economis...
Article
Full-text available
Richard Thaler has won the 2017 Nobel Prize in economics for his work on behavioural economics, which tries to understand how humans make economic decisions and after that various researcher throughout the world started to pay their attention to search the effect of various factors on consumer buying behaviours. The present study aimed at to find o...
Article
Full-text available
In spite of the established importance that retrofitting the existing building stock has in decreasing end-use carbon emissions and of the large availability of policies aimed at financially supporting renovations, investments in the residential sector remain below the optimal levels. The paper proposes an encompassing theoretical framework that me...
Conference Paper
Full-text available
This paper assesses the opportunities for integrating behavioural economics into the antitrust practice. Although behavioural economics has undisputable contributions to a variety of areas, such as development, marketing, and regulation, antitrust has been still relatively immune to it. I pointed out three areas that should benefit from the behavio...
Article
Full-text available
Introduction: Obesity is a global problem incurring substantial health and economic implications. This has been highlighted by the ongoing COVID-19 pandemic which disproportionately affected obese individuals. Most interventions have concentrated on promotion of physical activities and healthy eating which may involve current sacrifices for future...
Article
Full-text available
During Covid-19, prevention through lockdown belongs to the portfolio of Non-Pharmaceutical Intervention (NPI). The implementation of a lockdown mesure comes with a health care benefit, however with an economic and human cost: people are constrained to stay in their homes. Households hence have to live together in what we call “zero-space”, which m...
Article
Full-text available
The Climate Change urgency requires a swift reduction of energy consumption. One way to achieve this is through increased energy efficiency. Over the past decades, the debate on how to encourage energy efficiency has been guided by the physical-technical-economic model, which has a strong focus on technologies and cost savings, and in which human b...
Article
Full-text available
Tourists harm the destination environment in many different ways. Behavioural economics contributes to the formulation of public and private policies to reduce this harm. The nudging agenda is converging with tourism, where managers and policymakers realise that the implementation of nudges leads to lower costs, higher effectiveness of behavioural...
Article
Full-text available
This work analyses the existence of asymmetric effects on the subjective well-being of the population of different countries in response to changes in the levels of aggregate income. Microdata from the Eurobarometer and the World Values Survey are used for the period 2000-2019. This period includes several economic changes, among which are the stro...
Article
Full-text available
Introduction: Despite proven benefits, physical activity participation remains low in patients with coronary heart disease (CHD). Scientific evidence suggests that mobile health (mHealth)-based gamification interventions could increase physical activity levels. However, several systematic reviews demonstrated that most gamification intervention de...
Poster
Full-text available
The Special Issue "Novel Insights in the Leadership in Business and Economics" aims at researching novel insights in leadership in business and economics from various approaches and points of view, including economic theory, management, marketing, as well as behavioural economics, institutional economics, political economy, agricultural economics,...
Article
Full-text available
This longitudinal case study analyses the development of the pioneering waste management (WM) system in the Vaasa region of Western Finland, since the late 1980s to the present. It reflects the general features of the evolving WM from the one-bag system and throwaway culture towards today’s circular economy and product service systems. The Vaasa re...
Article
Full-text available
The COVID-19 pandemic and the measures to counteract it have highlighted the role of individual differences in evaluating and reacting to emergencies, and the challenges inherent in promoting precautionary behaviours. We aimed to explore the psychological and cognitive factors modulating behaviour and intentions during the national lockdown in Ital...
Article
Full-text available
Menstrual cycles are an integral part of a nearly two-third of a woman's life, and occur every month. Menstruation is a public health concern because irrespective of whether a woman can afford hygienic absorbents or not, she undergoes menstruation phase every month. Therefore, menstruation requires to be examined from public health policy perspecti...
Article
Full-text available
If The Buried Giant had been intended as a historiographic metafiction, its setting could have been replaced with recent locations having witnessed great wars, but then Kazuo Ishiguro would have unwillingly written a reportage-like novel instead of a historical fantasy dealing with magical ways of forgetting past atrocities in order to secure a pea...
Article
Full-text available
Even though risk management is a vital aspect of project management, the way that risk-based decisions are taken in projects is not well documented. Economic theory employs the concept of utility and assumes that decision makers are rational. Behavioural economics and prospect theory challenge this idea, making a number of specific claims about how...
Article
Full-text available
The seemingly rampant economic selfishness suggested by many recent corporate scandals is at odds with empirical results from behavioural economics, which demonstrate high levels of prosocial behaviour in bilateral interactions and low levels of dishonest behaviour. We design an experimental setting, the ‘Big Robber’ game, where a ‘robber’ can obta...
Article
Full-text available
Abstract. To design and apply effective countermeasures to hacking and related threats, it helps to have some way to structure one’s educated guesses and inferences about hackers’ current activities and future moves. This is especially the case when the decision-maker must consider not only the risk of attack but the unquantifiable risk of an att...
Article
Full-text available
Behavioural economics has provided much source of inspiration for public policy in the COVID-19 era. Such is evidently the state of discussion in Ghana, where Ghanaians' so-called stubborn resistance to positive behavioural change is increasingly the target of public and popular criticisms. This paper argues that further to legitimising the police...
Preprint
Full-text available
This paper is a review essay of Jayme Lemke and Vlad’s Tarko’s excellent edited volume, 'Elinor Ostrom and the Bloomington School: Building a New Approach to Policy and the Social Sciences'. It summarises the contents of the volume and uses them as the basis for reflections on various aspects of the work of Elinor and Vincent Ostrom, including: the...
Article
Full-text available
Evaluating decision-making during youth is a complex area of research. Multiple factors influence the young person’s subjective decision-making at this stage of development. Sub-optimal decision-making can have lifelong consequences. Longer adolescence, life stressors, drugs and alcohol and adverse events impact the young person, making them vulner...
Presentation
Full-text available
Adam Smith included the human psychology factor in his book "Wealth of Nations", which is accepted as the beginning of classical economics. Adam Smith also stated in his previous book “The Theory of Moral Sentiments” that the human psychology factor is not only the field of psychology but can also be subject to other fields such as economics. Tradi...
Article
Full-text available
Drug markets are dynamic systems which change based on demand, competition, legislation and revenue. Shifts that are not met with immediate and appropriate responses from the healthcare system can lead to public health crises with tragic levels of morbidity and mortality, as experienced Europe in the early 1990s and as is the case in North America...
Article
Full-text available
Popularly used in marketing and business, gamification has been gaining interest in educational contexts for its potential to invigorate otherwise mundane or difficult processes. A gamified environment transfers motivational elements of games to learning activities thereby engaging learners in the learning task thus transforming dull classroom envi...
Article
Full-text available
For more than a decade, ideas and concepts from behavioural economics have been spreading and become more and more influential in politics, business and civil society. Decision-makers in all sectors have become choice architects who aim to nudge people to make supposedly better decisions. More recently, analogue techniques have largely been superse...
Poster
Full-text available
Evening Lecture - Prof. Dr. Lucia Reisch, El-Erian Professor of Behavioural Economics and Policy University of Cambridge: Behavioural Public Policy for Sustainable Development, moderated by Univ.-Prof. Dr. Susanne Augenhofer, LL.M. (Yale)
Article
Full-text available
The subject of this paper is spite and spiteful behaviour from the point of view of behavioural economics. We conducted an experimental study using a 'mini-ultimatum game' with complete information about payoffs and unfavourable outside option. The sample consists of 748 undergraduate students from the Faculty of Law of the University of Niš and th...
Article
Full-text available
Introduction Vertigo, dizziness and balance problems (VDB) as well as osteoarthritis (OA) are among the health conditions with the greatest impact on mobility and social participation in older adults. Patients with VDB and OA were shown to benefit from specialised care such as vestibular rehabilitation therapy or joint replacement. However, these e...
Article
Full-text available
This study proposes a marketing decision support system (DSS) for firms using case-based and peak-end approaches to model consumers. The proposed DSS is composed of model and estimation methods. We employ a similarity function used in case-based decision theory to examine the degree of similarity between the past and current products offered to a c...
Article
Full-text available
The increasing chronicity and multimorbidities associated with people living with HIV have posed important challenges to health systems across the world. In this context, payment models hold the potential to improve care across a spectrum of clinical conditions. This study aims to systematically review the evidence of HIV performance-based payments...
Article
Full-text available
The aim of this article is to question the epistemic presuppositions of applying behavioural science in public policymaking. Philosophers of science who have examined the recent applications of the behavioural sciences to policy have contributed to discussions on causation, evidence, and randomised controlled trials. These have focused on epistemol...
Article
Full-text available
The impact of the COVID-19 on the industry has highlighted once again the need to create new ways of addressing consumers that would be less reliant on historic data, and more adjusted to recent observations of consumer behaviour, real time experiments and competitive context. This article addresses the implications of consumer behavioural economic...
Article
Full-text available
Introduction The purpose of this study is to incorporate behavioural economic principles and user-centred design principles into a multicomponent intervention for the management of uncontrolled hypertension (HTN) in chronic kidney disease (CKD) in primary care. Methods and analysis This is a multicentre, pragmatic, controlled trial cluster-randomi...
Article
Full-text available
We propose two models inspired by the COVID-19 pandemic: a coupled disease-human behaviour (or disease-game theoretic), and a coupled disease-human behaviour-economic model, both of which account for the impact of social-distancing on disease control and economic growth. The models exhibit rich dynamical behaviour including multistable equilibria,...
Article
Full-text available
We analyse land transaction and residential development data from Beijing, China and identify that developers’ evaluation of land transaction exhibits reference dependence and loss aversion. Developers with prior land transaction losses set higher house prices than those without prior losses. This effect is strongest at the beginning and towards th...
Article
Full-text available
Developments in technology have facilitated the emergence of new crowd counting organisations. Some of the organisations have established platforms to disseminate their data, making it available to researchers for the first time. These databases promise to increase the quality and quantity of research in various fields. In the late 2010s, specialis...
Technical Report
Full-text available
One example of a way for citizens to contribute to the low-carbon energy transition is by investing in energy efficiency (EE). However, there are still multiple barriers that make the socially optimal level of adoption a complex target to achieve. Over the past three decades, the debate on how to encourage EE has been guided by the physical–technic...