Article
Economics
Hang Qi, Ning Jia, Xiaobo Qu, Zhengbing He
Summary: This study aims to bridge the gap between traffic dynamic theories and laboratory experiments in urban transportation networks. By conducting a series of experiments and observing unanticipated behavior regularities, the researchers propose a new dynamic model that incorporates these observations. The model improves the existing theories and provides a real behavioral basis for network equilibrium or DTD dynamic models.
TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE
(2023)
Article
Economics
Ye Tian, Yudi Li, Jian Sun
Summary: “This paper compares the effectiveness of a penalty-based congestion pricing strategy and an incentive-based traffic demand management strategy. The experimental results show that both penalties and rewards can positively influence travel behavior. The study also explores the phenomena of loss aversion and risk aversion.”
TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE
(2022)
Article
Business, Finance
Annarita Colasante, Jaume Garcia-Segarra, Luca Riccetti, Alberto Russo
Summary: We propose three new procedures to investigate participants' higher-order risk attitudes and improve the consistency of individual behavior across different moments by increasing the freedom of choice and reducing the noise level.
FINANCE RESEARCH LETTERS
(2022)
Article
Economics
Jacob Goldin, Daniel Reck
Summary: The study finds that determining optimal policy is impossible without resolving the ambiguity of whether an observed default effect reflects a welfare-relevant preference or a mistake. The optimal policy depends on the resolution, either minimizing nondefault choices or inducing active choice.
REVIEW OF ECONOMICS AND STATISTICS
(2022)
Article
Economics
Christos Genakos, Costas Roumanias, Tommaso Valletti
Summary: This study presents new evidence on UK consumers' behavior regarding switching mobile telephony plans. The findings suggest that even consumers who could save money by switching tend to exhibit inertia. However, informing consumers about potential savings has a positive effect on their likelihood to switch. Interestingly, the impact of incurring overage payments on switching behavior is similar in magnitude to the effect of potential savings, indicating the presence of loss aversion. Overall, consumers care about savings but are also willing to pay upfront fees for peace of mind.
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
(2023)
Article
Business
Claudia Kelsall, Martin F. Quaas, Nicolas Querou
Summary: We study the optimal harvesting of a renewable resource with stochastic dynamics and focus on the effect of risk aversion. It is found that under common specifications of risk aversion, increasing risk and risk aversion lead to increased current resource use. This is due to the resource user investing in risk-free alternatives rather than the risky resource stock. The quantitative application of the model for the Eastern Baltic cod fishery shows that risk and risk aversion can have a larger effect on optimal harvesting than previously thought.
JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT
(2023)
Article
Multidisciplinary Sciences
Mehak Kaushik, Varsha Singh, Sujoy Chakravarty
Summary: This study revisits the two fundamental motivations of dishonesty: financial incentives and probability of detection. Through a real effort task, it is found that introducing piece-rate financial incentives can lower the likelihood and magnitude of cheating, but decreasing the probability of detection to zero only increases the cheating magnitude for individuals receiving piece-rate incentives.
SCIENTIFIC REPORTS
(2022)
Article
Engineering, Civil
Jihao Deng, Lei Gao, Xiaohong Chen, Quan Yuan
Summary: Traffic congestion is a major concern for policymakers in large cities worldwide. In order to combat congestion, individual-based active travel demand management (ATDM) has been proposed as a more efficient policy alternative. However, the factors influencing individuals' routing choices during commuting in response to ATDM incentives are still mostly unknown. By analyzing a desensitized one-week travel trajectory dataset of 5641 personal electric vehicles, this study identifies the major influencing factors of commuting route stability and provides suggestions for targeting responsive commuters. The findings contribute to the understanding of individual route choices and can help urban managers develop more refined ATDM policies to alleviate traffic congestion in the future.
Article
Economics
Carina Cavalcanti, Christopher Fleming, Andreas Leibbrandt
Summary: Individual risk-taking often affects bystanders. Research findings suggest that both genders are less willing to take risks when they impose negative externalities on others. Women do not generate lower social returns on their investments than men when they act as individual investors. However, when acting in groups, women generate lower social returns compared to men.
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
(2022)
Article
Mathematics
Jiesong Zhang, Cailing Li
Summary: This study focuses on the optimal insurance for individuals with low risk tolerance, considering the initial wealth and risk level. By establishing an insurance model and applying the calculus of variations method, the explicit optimal solution is obtained.
JOURNAL OF MATHEMATICS
(2022)
Article
Economics
Ritxar Arlegi, Sacha Bourgeois-Gironde, Mikel Hualde
Summary: The experiment explores different individual attitudes toward choice and suggests that these attitudes can coexist for the same subject, depending on the characteristics of the choice set faced. Choice attitudes are found to be conditional on preferences over alternatives as well as the presence of incomparability among the alternatives in the choice set.
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
(2022)
Article
Economics
B. Douglas Bernheim, Luca Braghieri, Alejandro Martinez-Marquina, David Zuckerman
Summary: The paper introduces a dynamic theory of endogenous preference formation, emphasizing the impact of mindset flexibility on decision-making. The theory produces rich behavioral dynamics, offering potential explanations for various observed phenomena.
AMERICAN ECONOMIC REVIEW
(2021)
Article
Economics
Tobin Hanspal, Annika Weber, Johannes Wohlfart
Summary: The exposure to the COVID-19 stock market crash has effects on U.S. households' expectations and planned behavior, causing adjustments in retirement age, desired working hours, and household debt expectations. The beliefs about the duration of the stock market recovery also play a role in shaping households' expectations about their wealth and planned investment decisions and labor market activity.
REVIEW OF ECONOMICS AND STATISTICS
(2021)
Article
Business, Finance
Paolina C. Medina
Summary: This study on nudging effects in Brazil found that reminders for credit card payments reduced late-payment fees but increased overdraft fees. The results suggest that nudges may not have uniform effects and need to be carefully designed.
REVIEW OF FINANCIAL STUDIES
(2021)
Article
Green & Sustainable Science & Technology
Lili Yu, Chen Chen, Ziheng Niu, Yang Gao, Haoran Yang, Zihao Xue
Summary: This study measured the degree of risk aversion among vegetable farmers using an experimental economics approach. Results showed that cooperative membership helps promote the adoption of green control techniques among vegetable farmers and alleviates the inhibitory effect of risk aversion on such adoption. (c) 2020 Elsevier Ltd. All rights reserved.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Biology
Hang Qi, Shoufeng Ma, Ning Jia, Guangchao Wang
JOURNAL OF THEORETICAL BIOLOGY
(2015)
Article
Management
Guangchao Wang, Ning Jia, Shoufeng Ma, Hang Qi
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2014)
Article
Transportation Science & Technology
Guangchao Wang, Shoufeng Ma, Ning Jia
TRANSPORTATION RESEARCH PART C-EMERGING TECHNOLOGIES
(2013)
Article
Economics
Guangchao Wang, Anthony Chen, Songyot Kitthamkesorn, Seungkyu Ryu, Hang Qi, Ziqi Song, Jianguo Song
TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE
(2020)
Article
Transportation
Guangchao Wang, Kebo Tong, Anthony Chen, Hang Qi, Xiangdong Xu, Shoufeng Ma
Summary: This study investigates the impacts of the least perceived travel cost on the stochastic user equilibrium problem. The Weibit SUE models with a positive location parameter reduce perception variances route-specifically and resolve the scale insensitivity issue. Numerical results confirm the analytical results and demonstrate the efficiency and robustness of the proposed solution algorithm.
TRANSPORTMETRICA A-TRANSPORT SCIENCE
(2023)
Article
Business, Finance
Guangchao Wang, Hang Qi, Huiling Xu, Seungkyu Ryu
JOURNAL OF MANAGEMENT SCIENCE AND ENGINEERING
(2020)
Article
Computer Science, Information Systems
Jianguo Song, Hang Qi, Guangchao Wang