Genetic Architecture of Economic Preferences David Cesarini Cesarini

... Magnus Johannesson, Stockholm School of Economics Philipp Koellinger, Erasmus School of Economics David Laibson, Harvard University Matthijs van der Loos, Erasmus School of Economics ...

... Magnus Johannesson, Stockholm School of Economics Philipp Koellinger, Erasmus School of Economics David Laibson, Harvard University Matthijs van der Loos, Erasmus School of Economics ...

Probability and Uncertainty in Economic Modeling

... their theory is therefore restricted to situations of risk, rather than uncertainty. Their theory does not tell us where probabilities might emerge from if they are not given, and their framework does not support expected utility maximization if uncertainty is not quantified. Savage’s (1954) main co ...

... their theory is therefore restricted to situations of risk, rather than uncertainty. Their theory does not tell us where probabilities might emerge from if they are not given, and their framework does not support expected utility maximization if uncertainty is not quantified. Savage’s (1954) main co ...

Preferences and Utility - UCLA Economics Homepage

... Transitivity Axiom: For every triple x, y, z ∈ X, if x < y and y < z then x < z. An agent has complete preferences if she can compare any two objects. An agent has transitive preferences if her preferences are internally consistent. Let’s consider some examples. First, suppose that, given any two ca ...

... Transitivity Axiom: For every triple x, y, z ∈ X, if x < y and y < z then x < z. An agent has complete preferences if she can compare any two objects. An agent has transitive preferences if her preferences are internally consistent. Let’s consider some examples. First, suppose that, given any two ca ...

A positive correlation between turnout and plurality does not refute

... of the first for values of D greater than R.) An increase in turnout therefore has an ambiguous effect on expected plurality, and numerical calculations are necessary to determine the sign and magnitude of the effect. For simulation purposes let there be 2,000 jurisdictions, each with 150,000 eligib ...

... of the first for values of D greater than R.) An increase in turnout therefore has an ambiguous effect on expected plurality, and numerical calculations are necessary to determine the sign and magnitude of the effect. For simulation purposes let there be 2,000 jurisdictions, each with 150,000 eligib ...

Document

... Exception: If the error terms εij in are assumed to be independently & identically standard extreme value distributed, then an analytical solution exists. In this case, similar to binary logit, it can be shown that the choice probabilities are P(yi j) ...

... Exception: If the error terms εij in are assumed to be independently & identically standard extreme value distributed, then an analytical solution exists. In this case, similar to binary logit, it can be shown that the choice probabilities are P(yi j) ...

Homo economicus

... [Economics is] the science which describes human behavior as a relationship between [given] ends and scarce means which have alternative uses. [Lionel Robbins, 1935, Ch.1]. In the axiomatization outlaid above, scarcity is expressed by the finiteness of the space of consequences i.e., the actions the ...

... [Economics is] the science which describes human behavior as a relationship between [given] ends and scarce means which have alternative uses. [Lionel Robbins, 1935, Ch.1]. In the axiomatization outlaid above, scarcity is expressed by the finiteness of the space of consequences i.e., the actions the ...

Class 9 Lecture

... • Multinomial logit is designed for outcomes that are not complexly interrelated • Critical assumption: Independence of Irrelevant Alternatives (IIA) • Odds of one outcome versus another should be independent of other alternatives – Problems often come up when dealing with individual choices… ...

... • Multinomial logit is designed for outcomes that are not complexly interrelated • Critical assumption: Independence of Irrelevant Alternatives (IIA) • Odds of one outcome versus another should be independent of other alternatives – Problems often come up when dealing with individual choices… ...

2013 and the democratic coup ocratic coup

... country unnamed by the author but thought by many experts to be based on T— and F—) where she infiltrated a junta who had taken control of the country. By analysing the voting preferences of its members and manipulating their agenda, she managed to get herself elected High Muckamuck and went on to r ...

... country unnamed by the author but thought by many experts to be based on T— and F—) where she infiltrated a junta who had taken control of the country. By analysing the voting preferences of its members and manipulating their agenda, she managed to get herself elected High Muckamuck and went on to r ...