Wednesday, February 20, 2008

Behavioural Economics Reading Group

We had the first behavioural econ reading group the other day and it is now scheduled for Wednesdays at 6pm so feel free to come to the odd one. To be clear, this is different to the seminar series and journal club and designed to help out three of the MA Students and to talk about some ideas

We went through a good few things the other day:

(i) The first main topic was on determinants of suicide. The papers below are worth reading including the Ruhm paper on recessions which is a good methodology for this type of work.

Brainerd, E. "Economic Reform and Mortality in the Former Soviet Union: A Study of the Suicide Epidemic in the 1990s." European Economic Review, 2001, 45, pp. 1007-19.

Hamermesh, D. and Soss, N. "An Economic Theory of Suicide." The Journal of Political Economy, 1974, 82(1), pp. 83-98.

Hamermesh, D. S. "The Economics of Black Suicide." Southern Economic Journal, 1974, 41(2), pp. 188-99.

Minoiu, C. and Andres, A. R. "The Effect of Public Spending on Suicide: Evidence from U.S. State Data." The Journal of Socio-Economics, 2007, Article in press.

Ruhm, C. J. "Are Recessions Good for Your Health?" The Quarterly Journal of Economics, 2000, 115(2), pp. 617-50.

(ii) We also talked about the determinants of well-being

On the data side, looking at the websites for the European Social Survey and SHARE would be useful.

See below for some information on the DRM including links to existing papers

here

(iii) In terms of useful tasks to talk about for testing some of the theories of decision making we discussed, it would be wortwhile spending some time looking at the Iowa Gambling Task, the Monty Hall problem and the Wason Selection task.

(iv) Some literature on neuroeconomics and discounting is provided below. Also, we talked about Contingent Valuation Methodology as a useful way of examining theories of decision making albeit in a hypothetical context. A nice overview of CVM is linked below

http://geary.ucd.ie/neuroeconomics/

http://www.ecu.edu/econ/wp/00/ecu0008.pdf

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