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on Neuroeconomics |
| By: | Laura Breitkopf; Shyamal Chowdhury; Shambhavi Priyam; Hannah Schildberg-Hörisch; Matthias Sutter |
| Abstract: | We study the relationship between parenting style and a broad range of children’s skills and outcomes. Based on survey and experimental data from 5, 580 children and their parents, we find that children exposed to positive parenting have higher IQs, are more altruistic, open to new experiences, conscientious, and agreeable, have a higher locus of control, self-control, and self-esteem, perform better in scholarly achievement tests, behave more prosocially in everyday life, and are more satisfied with their life. Positive parenting is negatively associated with children’s neuroticism, patience, engagement in risky behaviors, and their emotional and behavioral problems. |
| Keywords: | parenting style, child outcomes, economic preferences, personality traits, IQ |
| JEL: | C91 D01 D10 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11391 |
| By: | Benjamin Enke; Thomas Graeber; Ryan Oprea; Jeffrey Yang; Thomas W. Graeber |
| Abstract: | We report a large-scale examination of behavioral attenuation: due to information-processing constraints, the elasticity of people’s decisions with respect to economic fundamentals is generally too small. We implement more than 30 experiments, 20 of which were crowd-sourced from leading experts. These experiments cover a broad range of economic decisions, from choice and valuation to belief formation, from strategic games to generic optimization problems, involving investment, savings, effort supply, product demand, taxes, environmental externalities, fairness, cooperation, beauty contests, information disclosure, search, policy evaluation, memory, forecasting and inference. In 93% of our experiments, the elasticity of decisions to fundamentals decreases in participants’ cognitive uncertainty, our measure of the severity of information-processing constraints. Moreover, in decision problems with objective solutions, we observe elasticities that are universally smaller than is optimal. Many widely-studied decision anomalies represent special cases of behavioural attenuation. We discuss both its limits and why it often gives rise to the classic phenomenon of diminishing sensitivity. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11345 |
| By: | Jonas Jessen; Lavinia Kinne; Michele Battisti |
| Abstract: | Child penalties in labour market outcomes are well-documented: after childbirth, mothers’ employment and earnings drop persistently compared to fathers. Beyond gender norms, a potential driver could be the loss in labour market skills due to mothers’ longer employment interruptions. This paper estimates child penalties in adult cognitive skills by adapting the pseudo-panel approach to a single cross-section of 29 countries in the PIAAC dataset. We find a persistent drop in numeracy skills after childbirth for both parents between 0.13 (short-run) and 0.16 standard deviations (long-run), but no statistically significant difference between mothers and fathers. Estimates of child penalties in skills strongly depend on controlling for pre-determined characteristics, especially education. Additionally, there is no evidence for worse occupational skill matches for mothers after childbirth. Our findings suggest that changes in general labour market skills cannot explain child penalties in labour market outcomes, and that a cross-sectional estimation of child penalties can be sensitive to characteristics of the outcome variable |
| Keywords: | Child penalty, cognitive skills, gender inequality, PIAAC |
| JEL: | I20 J13 J16 J24 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwwpp:dp2099 |
| By: | Jian-Qiao Zhu; Joshua C. Peterson; Benjamin Enke; Thomas L. Griffiths |
| Abstract: | Understanding how people behave in strategic settings–where they make decisions based on their expectations about the behavior of others–is a longstanding problem in the behavioral sciences. We conduct the largest study to date of strategic decision-making in the context of initial play in two-player matrix games, analyzing over 90, 000 human decisions across more than 2, 400 procedurally generated games that span a much wider space than previous datasets. We show that a deep neural network trained on these data predicts people’s choices better than leading theories of strategic behavior, indicating that there is systematic variation that is not explained by those theories. We then modify the network to produce a new, interpretable behavioural model, revealing what the original network learned about people: their ability to optimally respond and their capacity to reason about others are dependent on the complexity of individual games. This context-dependence is critical in explaining deviations from the rational Nash equilibrium, response times, and uncertainty in strategic decisions. More broadly, our results demonstrate how machine learning can be applied beyond prediction to further help generate novel explanations of complex human behavior. |
| Keywords: | behavioural game theory, large scale experiment, machine learning, behavioral economics, complexity |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11296 |
| By: | Trzcińska, Agata (University of Warsaw); Podsiadłowski, Wojciech; Golus, Patrycja; Wieleszczyk, Jowita |
| Abstract: | Recent studies indicate that even preschool children can develop materialistic tendencies. In a sample of 219 children attending Polish preschools (47% female, Mage = 65.30 months, SD = 12.18, all White) and their parents (84% female, Mage = 38.27 years, SD = 4.78), we assessed children's materialism, self-esteem, theory of mind, and parental material indulgence. Moderation analyses revealed that the relation between self-esteem and materialism becomes apparent with the development of theory of mind (R2 = .15). Furthermore, we found that this effect may be amplified by high levels of parental material indulgence (R2 = .17 for the co-moderating model). Our findings provide new insights into how child development and parental behavior interact to influence a child's materialistic tendencies. |
| Date: | 2024–10–16 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:7x2ef |