The science of apologies with experimental evidence

Ben Ho 13 May 2014

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Following the recent wave of apologies by politicians,1 celebrities,2 and in particular by firms,3 there have been numerous commentaries about the nature of apology – in particular how it is pointless and overused. Recent research in the social science of apologies can help us understand their logic, and shed light on the purpose of the rituals of repairing social transgression.

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Topics:  Frontiers of economic research

Tags:  experimental economics, Behavioural economics, lab experiments, apologies, causal effects

Exploring the transmission channels of contagious bank runs

Martin Brown, Stefan Trautmann, Razvan Vlahu 10 April 2014

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Financial contagion – the situation in which liquidity or insolvency risk is transmitted from one financial institution to another – is viewed by policymakers and academics as a key source of systemic risk in the banking sector. In particular, the events in the 2007–2009 Global Crisis have turned the attention of policymakers towards the potential contagion of liquidity withdrawals across banks and the resulting implications for financial stability.

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Topics:  Financial markets

Tags:  experimental economics, financial stability, financial crisis, global crisis, banking, contagion, banks, systemic risk, bank runs

Heterogeneous response across genders to tonal variation in messaging: Experimental evidence

Vincenzo Galasso, Tommaso Nannicini 22 September 2013

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Persuasion is an art which is critical to success in politics, business, and a personal career. ’Persuasive communication‘ – as defined by DellaVigna and Gentzkow (2010) – is used, for example, to convince:

  • Customers to purchase a new product.
  • A recruiting committee to award a promotion.
  • Citizens to vote for a candidate.

Most often this persuasion is exerted by individuals, firms or political parties who send competing messages to potential receivers.

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Topics:  Gender

Tags:  gender, experimental economics, advertising, persuasive communication

"Happiness economics" in reverse: Does happiness affect productivity?

Daniel Sgroi 26 July 2010

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One of the biggest growth areas in economics over the last few years has been “happiness economics”. A plethora of intriguing results, starting with Easterlin’s famous paradox breaking the link between well-being and income (Easterlin 1974) through to recent counterintuitive findings showing that “happier countries” produce more suicide cases (Oswald 1997), all show that we still do not have a clear mental grip on how mood links to economic variables such as income or economic growth.

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Topics:  Frontiers of economic research Labour markets Productivity and Innovation

Tags:  productivity, experimental economics, psychology, Happiness economics

Experimental economics: evolution, methods and achievements

Robert Sugden interviewed by Romesh Vaitilingam,

Date Published

Fri, 03/26/2010

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See Also

Related research here.

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Topics

Frontiers of economic research
Tags
experimental economics, experiment design

Related Article(s)

Simple rules for designing economic experiments Experimental economics and policy design
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Neuroeconomic theory: Using neuroscience to understand the bounds of rationality

Juan D. Carrillo , Isabelle Brocas 18 March 2010

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People often fail to make “rational” decisions. Economic agents are subject to multiple biases that affect the way they perceive events, act upon them, and learn from experience. Most of these anomalies are remarkably persistent and are widely documented in real world and laboratory environments by behavioural data.

To cite just a few, individuals have systematically biased beliefs about:

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Topics:  Frontiers of economic research

Tags:  experimental economics, neuroeconomics, Behavioural economics

So you want to run an experiment, now what? Some simple rules of thumb for optimal experimental design

John List, Sally Sadoff, Mathis Wagner 20 February 2010

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Within economics, measurement approaches can be divided into two main categories: estimation of models that make use of naturally-occurring data and approaches wherein the analyst herself governs the data generation process. A handful of popular empirical approaches are typically used when the analyst is dealing with naturally-occurring data, but the literature is replete with criticisms of their identifying assumptions, many times based on restrictiveness or implausibility (see Blundell and Costas-Dias (2002) for a useful review).

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Topics:  Frontiers of economic research

Tags:  experimental economics, randomisation, experiment design

New Directions in Welfare

29 June - 1 July 2009, St Catherine's College, Oxford University

Event Type

Conference

Institution

The event is being organised from a number of universities led by the Open University.
Dates

Start Date

Mon, 06/29/2009

End Date

Wed, 07/01/2009

More information

http://www.open.ac.uk/socialsciences/welfareconomicstheory/

Attendance

Yes

Location

St Catherine's College, Oxford University
Organizer

Organizer(s)

Paul Anand

Contact Email

paul.anand@education.ox.ac.uk

Disclaimer: Vox is not responsible for the accuracy of this information.


Topics

Frontiers of economic research
Tags
development, education, experimental economics, migration, EU policies, Frontiers of economic research, health economics, poverty and income inequality, welfare state and social Europe, economic theory, ethics

Experimental results on the inter-generational transmission of economic values

Marco Cipriani, Paola Giuliano, Olivier Jeanne 01 August 2007

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The nature of human behaviour assumed in most economic models is based on the ‘Homo Economicus’ assumption – everyone is out for him or her self. This makes economic theory easy, or at least easier, since it minimises the joint-ness of decision making.

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Topics:  Welfare state and social Europe

Tags:  experimental economics, human behaviour, public mindedness, intergenerational transmission

Experimental economics and policy design

Steffen Huck, Jean-Robert Tyran,

Date Published

Fri, 06/29/2007

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Partners

CEPR

Topics

Frontiers of economic research

URL

http://www.cepr.org/pubs/PolicyInsights/CEPR_Policy_Insight_006.asp

The general public and many politicians tend to be sceptical that unregulated markets are good for people’s wellbeing. Economists have known forever that laissez-faire yields the first best only under fairly unrealistic assumptions. The theory of industrial organization describes when markets work, when they fail and how such failures can be remedied. Unfortunately, these theories are often difficult to relate to and to implement in practice. One reason is that theory is simple and abstract. Reality, however, rarely cooperates with the simplifying assumptions.

Tags
experimental economics, markets, trust problem

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