The Journal of behavioral economics最新文献

“Entrepreneurs” in economic theory are like supermen. Organizers of real world organizations are far less dramatic, playing roles that defy simple unimotivational characterizations. Likewise, “firms” in economic theory are simple black boxes from which come profit maximization assumptions. Real world organizations are much more complex in type, function, and structure. The usual economic distinctions between for-profit businesses, not-for-profit corporations, and government bureaus are often quite inaccurate or misleading. Even the distinction between organizations and markets developed by Ronald Coase ignores an important intermediate category of networks. This paper offers a complete reconceptualization of the role of organizers, organizations, networks, and markets. It is a fundamental challenge to the traditional paradigm of neoclassical economics. The alternative presented here incorporates the basic public choice perspective of Buchanan and Tullock, the new institutionalism of Williamson, and the informational concepts of Hayek. It also introduces the very important notion of correct agency identification for social analysis and what is called “social human capital” within the framework of organizational teams. Organizers, at the most fundamental level, organize new organizations when an organizer or group of organizers perceive a way to pursue their goals and objectives more effectively through the creation of new organizations than through the next best way of pursuing those goals and objectives. It is as simple and complicated as that.

A new method for estimating the demand curve for publicly supplied goods when quantities are restricted to a few discrete levels is introduced. The method involves fitting a conditional logit model to choices from a set of survey options in which price and quantity are both varied and consumer attitudes are explicitly controlled. The estimated parameters of the valuation function serve to trace the marginal value of the good at each level of hypothetical consumption in survey data. We apply the method to the valuation of salmon on Alaska's Kenai River. We find that there is a distinct kink in the marginal valuation function and that sport fishermen may place a negative marginal value on fish permits exceeding their desired catch levels.

Kahneman and Tversky's well-known prospect theory predicts that decision-makers will predominantly take the sure thing when choosing between a sure gain and a risky gain of equal or better expected value. We find that, when a price cut decision is presented in a form similar to the prospect theory gamble problems, the majority of respondents (both students and retailers) choose the risky price cut choice, even when the risky choice has a lower expected value. The explanation that perceived short term gains in volume (i.e., the customer base) dominated the price cut decision is examined in detail.

This article forms the second part of a continuing study on the role of business ethics in America. In the first part we explored the views of business executives; the second part analyzes the beliefs and values of business educators; and the third part will compare and contrast the responses from academic and business leaders.

During the past several decades, women have increased their labor-force participation while remaining primarily responsible for the care of children. Men have not correspondingly increased their home activity, and women's earnings have not reached parity with men's. A primary reason that women have failed to gain equality in the labor market may be the remaining inequalities in provision of child rearing. We consider the constraints on child rearing faced by men and review literature on animal behavior to elucidate the conditions that facilitate parental investment by males. Some factors appear to have congruent effects, in general, on paternal behavior in many species: the benefit to young of male help, the male capacity for providing help, and paternity certainty. We discuss the role of these factors in slowing the achievement of gender equality and the potential efficacy of social policy in changing existing behavior patterns.

Three strong radical Conservative administrations under United Kingdom Prime Minister Margaret Thatcher embarked on an extensive program of privatization at the beginning of the 1980s. This article surveys that experience and ends by considering whether there are any, even limited, lessons to be drawn of relevance to the USA.