16 found
Order:
  1.  22
    The Empirical Adequacy of Cumulative Prospect Theory and its Implications for Normative Assessment.Glenn W. Harrison & Don Ross - 2017 - Journal of Economic Methodology 24 (2):150-165.
    Much behavioral welfare economics assumes that expected utility theory does not accurately describe most human choice under risk. A substantial literature instead evaluates welfare consequences by taking cumulative prospect theory as the natural default alternative, at least where description is concerned. We present evidence, based on a review of previous literature and new experimental data, that the most empirically adequate hypothesis about human choice under risk is that it is heterogeneous, and that where EUT does not apply, more choice is (...)
    Direct download (5 more)  
     
    Export citation  
     
    Bookmark   13 citations  
  2.  15
    Varieties of Paternalism and the Heterogeneity of Utility Structures.Glenn W. Harrison & Don Ross - 2018 - Journal of Economic Methodology 25 (1):42-67.
    A principal source of interest in behavioral economics has been its advertised contributions to policies aimed at ‘nudging’ people away from allegedly natural but self-defeating behavior toward patterns of response thought more likely to improve their welfare. This has occasioned controversies among economists and philosophers around the normative limits of paternalism, especially by technical policy advisors. One recent suggestion has been that ‘boosting,’ in which interventions aim to enhance people’s general cognitive skills and representational repertoires instead of manipulating their choice (...)
    Direct download (6 more)  
     
    Export citation  
     
    Bookmark   7 citations  
  3.  79
    Neuroeconomics: A Rejoinder.Glenn W. Harrison - 2008 - Economics and Philosophy 24 (3):533-544.
    Nobody in this debate questions the point that neuroeconomics remains full of potential, and little else as yet. If so, that really is progress of sorts. I was getting afraid that we would have to open nominations for the Captain Ahab Award for obsessive work on the promotion of neuroeconomics.
    Direct download (9 more)  
     
    Export citation  
     
    Bookmark   20 citations  
  4.  19
    Field Experiments and Methodological Intolerance.Glenn W. Harrison - 2013 - Journal of Economic Methodology 20 (2):103-117.
  5. Non-Linear Mixed Logit.Steffen Andersen, Glenn W. Harrison, Arne Risa Hole, Morten Lau & E. Elisabet Rutström - 2012 - Theory and Decision 73 (1):77-96.
    We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.
    Direct download (5 more)  
     
    Export citation  
     
    Bookmark   4 citations  
  6.  21
    Experimental Payment Protocols and the Bipolar Behaviorist.Glenn W. Harrison & J. Todd Swarthout - 2014 - Theory and Decision 77 (3):423-438.
    If someone claims that individuals behave as if they violate the independence axiom when making decisions over simple lotteries, it is invariably on the basis of experiments and theories that must assume the IA through the use of the random lottery incentive mechanism. We refer to someone who holds this view as a Bipolar Behaviorist, exhibiting pessimism about the axiom when it comes to characterizing how individuals directly evaluate two lotteries in a binary choice task, but optimism about the axiom (...)
    No categories
    Direct download (2 more)  
     
    Export citation  
     
    Bookmark   3 citations  
  7. Small Stakes Risk Aversion in the Laboratory: A Reconsideration.Glenn W. Harrison, Morten I. Lau, Don Ross & J. Todd Swarthout - unknown
    Evidence of risk aversion in laboratory settings over small stakes leads to a priori implausible levels of risk aversion over large stakes under certain assumptions. One core assumption in statements of this calibration puzzle is that small-stakes risk aversion is observed over all levels of wealth, or over a â sufficiently largeâ range of wealth. Although this assumption is viewed as self-evident from the vast experimental literature showing risk aversion over laboratory stakes, it actually requires that lab wealth be varied (...)
    No categories
     
    Export citation  
     
    Bookmark   1 citation  
  8. Endogenous Choice of Institutional Punishment Mechanisms to Promote Social Cooperation.Anabela Botelho, Glenn W. Harrison, Lígia M. Costa Pinto, Don Ross & Elisabet E. Rutstrom - forthcoming - Public Choice.
    Does the desirability of social institutions for public goods provision depend on the extent to which they include mechanisms for endogenous enforcement of cooperative behavior? We consider alternative institutions that vary the use of direct punishments to promote social cooperation. In one institution, subjects participate in a public goods experiment in which an initial stage of voluntary contribution is followed by a second stage of voluntary, costly sanctioning. Another institution consists of the voluntary contribution stage only, with no subsequent opportunity (...)
    No categories
     
    Export citation  
     
    Bookmark  
  9.  50
    Inferring Beliefs as Subjectively Imprecise Probabilities.Steffen Andersen, John Fountain, Glenn W. Harrison, Arne Risa Hole & E. Elisabet Rutström - 2012 - Theory and Decision 73 (1):161-184.
    We propose a method for estimating subjective beliefs, viewed as a subjective probability distribution. The key insight is to characterize beliefs as a parameter to be estimated from observed choices in a well-defined experimental task and to estimate that parameter as a random coefficient. The experimental task consists of a series of standard lottery choices in which the subject is assumed to use conventional risk attitudes to select one lottery or the other and then a series of betting choices in (...)
    Direct download (3 more)  
     
    Export citation  
     
    Bookmark   1 citation  
  10.  68
    The Methodological Promise of Experimental Economics.Glenn W. Harrison - 2011 - Journal of Economic Methodology 18 (2):183-187.
  11.  40
    Risk and Time Preferences of Entrepreneurs: Evidence From a Danish Field Experiment.Steffen Andersen, Amalia Di Girolamo, Glenn W. Harrison & Morten I. Lau - 2014 - Theory and Decision 77 (3):341-357.
    To understand how small business entrepreneurs respond to government policy one has to know their risk and time preferences. Are they risk averse, or have high discount rates, such that they are hard to motivate? We have conducted a set of field experiments in Denmark that will allow a direct characterization of small business entrepreneurs in terms of these traits. We build on experimental tasks that are well established in the literature. The results do not suggest that small business entrepreneurs (...)
    Direct download (4 more)  
     
    Export citation  
     
    Bookmark  
  12.  39
    Introduction to FUR Special Issue.Glenn W. Harrison, Morten I. Lau & Daniel Read - 2012 - Theory and Decision 73 (1):1-2.
    No categories
    Direct download (3 more)  
     
    Export citation  
     
    Bookmark  
  13.  24
    Introduction to FUR XV Special Issue.James C. Cox, Glenn W. Harrison, Elisabet Rutström & Vjollca Sadiraj - 2014 - Theory and Decision 77 (4):439-441.
    No categories
    Direct download (2 more)  
     
    Export citation  
     
    Bookmark  
  14.  45
    Is the Evidence for Hyperbolic Discounting in Humans Just an Experimental Artefact?Glenn W. Harrison & Morten Igel Lau - 2005 - Behavioral and Brain Sciences 28 (5):657-657.
    We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.
    Direct download (11 more)  
     
    Export citation  
     
    Bookmark   1 citation  
  15.  13
    Field Experiments and Methodological Intolerance: Reply.Glenn W. Harrison - 2016 - Journal of Economic Methodology 23 (2):157-159.
  16.  48
    Doing It Both Ways – Experimental Practice and Heuristic Context.Glenn W. Harrison & E. Elisabet Rutström - 2001 - Behavioral and Brain Sciences 24 (3):413-414.
    Psychologists can learn from the procedural conventions of experimental economics. But the rationale for those conventions must be examined and understood lest they become constraints. Field referents and the choice of heuristic, matter for behavior. This theme unites the fields of experimental psychology and experimental economics by the simple fact that the object of study in both cases is the same.
    Direct download (6 more)  
     
    Export citation  
     
    Bookmark   1 citation