This paper attempts to test the hypothesis that utility depends on income relative to a ‘comparison’ or reference level. Using data on 5,000 British workers, it provides two findings. First, workers’ reported satisfaction levels are shown to be inversely related to their comparison wage rates. Second, holding income constant, satisfaction levels are shown to be …
Category Archives: 연구논문
Kaufman, B. E. (1999). Emotional arousal as a source of bounded rationality. Journal of Economic Behavior &Organization, 38(2), 135-144.
This paper proposes an alternative psychological explanation for bounded rationality. According to Herbert Simon, bounded rationality arises from human cognitive limitations. Following the suggestion of institutional economist John R. Commons, I argue that extremes in emotional arousal also contribute to bounded rationality. This idea is formalized and developed using the Yerkes–Dodson law from psychology. Examples …
Loewenstein, G. (1996). Out of control: Visceral influences on behavior. Organizational behavior and human decision processes, 65(3), 272-292.
Understanding discrepancies between behavior and perceived self-interest has been one of the major, but largely untackled, theoretical challenges confronting decision theory from its infancy to the present. People often act against their self-interest in full knowledge that they are doing so; they experience a feeling of being “out of control.” This paper attributes this phenomenon …
Loewenstein, G. (2000). Emotions in economic theory and economic behavior. American economic review, 90(2), 426-432.
초록 없음 Loewenstein, G. (2000). Emotions in economic theory and economic behavior. American economic review, 90(2), 426-432. DOI: 10.1257/aer.90.2.426
Romer, P. M. (2000). Thinking and feeling. American Economic Review, 90(2), 439-443.
초록 없음 Romer, P. M. (2000). Thinking and feeling. American Economic Review, 90(2), 439-443. DOI: 10.1257/aer.90.2.439
Kenny, C. (1999). Does growth cause happiness, or does happiness cause growth?. Kyklos, 52(1), 3-25.
Summary Although there are many accepted faults with GNP per capita as a measure of the utility gained from wealth, most commentators would still argue that an increase in GNP per capita will have positive effects on total utility outweighing any negative externalities. Taking lessons from a conception of the nature and causes of happiness …
Isen, A. M., Daubman, K. A., &Nowicki, G. P. (1987). Positive affect facilitates creative problem solving. Journal of Personality and Social Psychology, 52(6), 1122-1131.
Four experiments indicated that positive affect, induced by means of seeing a few minutes of a comedy film or by means of receiving a small bag of candy, improved performance on two tasks that are generally regarded as requiring creative ingenuity: Duncker’s (1945) candle task and M. T. Mednick, S. A. Mednick, and E. V. …
Schwarz, N. (1990). What respondents learn from scales: The informative functions of response alternatives. International Journal of Public Opinion Research, 2(3), 274-285.
Survey respondents are often asked to report the frequency with which they engage in a certain behavior by checking the appropriate alternative from a list of response categories provided to them. A psychological research program, reviewed in the present paper, indicates that response alternatives are not only measurement devices but constitute a source of information …
Hermalin, B., &Isen, A. (2000). The effect of affect on economic and strategic decision making. CLEO Research Paper No. C01-5.
The standard economic model of decision making assumes a decision maker makes her choices to maximize her utility or happiness. Her current emotional state is not explicitly considered. Yet there is a large psychological literature that shows that current emotional state, in particular positive affect, has a significant effect on decision making. This paper offers …
Isen, A. M., &Levin, P. F. (1972). Effect of feeling good on helping: Cookies and kindness. Journal of Personality and Social Psychology, 21(3), 384-388.
Investigated the effects of a person’s positive affective state on his or her subsequent helpfulness to others. “Feeling good” was induced (a) in 52 male undergraduates by having received cookies while studying in a library (Study I), and (b) in 24 female and 17 male adults by having found a dime in the coin return …