Showing posts with label behavioral economics. Show all posts
Showing posts with label behavioral economics. Show all posts

Tuesday, September 25, 2012

Declining Health

Health problems are education problems.

Differences In Life Expectancy Due To Race And Educational Differences Are Widening, And Many May Not Catch Up
Abstract: It has long been known that despite well-documented improvements in longevity for most Americans, alarming disparities persist among racial groups and between the well-educated and those with less education. In this article we update estimates of the impact of race and education on past and present life expectancy, examine trends in disparities from 1990 through 2008, and place observed disparities in the context of a rapidly aging society that is emerging at a time of optimism about the next revolution in longevity. We found that in 2008 US adult men and women with fewer than twelve years of education had life expectancies not much better than those of all adults in the 1950s and 1960s. When race and education are combined, the disparity is even more striking. In 2008 white US men and women with 16 years or more of schooling had life expectancies far greater than black Americans with fewer than 12 years of education—14.2 years more for white men than black men, and 10.3 years more for white women than black women. These gaps have widened over time and have led to at least two “Americas,” if not multiple others, in terms of life expectancy, demarcated by level of education and racial-group membership. The message for policy makers is clear: implement educational enhancements at young, middle, and older ages for people of all races, to reduce the large gap in health and longevity that persists today.

Tuesday, February 28, 2012

Monkeys and Fairness

Below is an excellent video on pro-social behavior and fairness among monkeys. The good stuff is at 12:00min and 14:40. Monkeys demonstrate interdependent utility functions.

Wednesday, November 02, 2011

Nudge

Behavioral Econ gets a department in the UK government. A report on the group and the concept of nudge from BBC4.

Thursday, September 01, 2011

Reasoning in Economics

Here is a discussion about behavioral econ, psych, and inductive versus deductive reasoning. It is wonderful throughout.

Friday, July 15, 2011

Nudge

Order matters. Whether it is the order on a ballot. The order of choices in a survey, or the order of options on a menu.
“Very small but cumulated decreases in food intake may be sufficient to have significant effects, even erasing obesity over a period of years” (Rozin et al., 2011). In two studies, one a lab study and the other a real-world study, we examine the effect of manipulating the position of different foods on a restaurant menu. Items placed at the beginning or the end of the list of their category options were up to twice as popular as when they were placed in the center of the list. Given this effect, placing healthier menu items at the top or bottom of item lists and less healthy ones in their center (e.g., sugared drinks vs. calorie-free drinks) should result in some increase in favor of healthier food choices. [Judgment and Decision Making, Vol. 6, No. 4, June 2011, pp. 333–342]
In the case of voting:

And so it is with voting. Candidates listed first on the ballot get about two percentage points more votes on average than they would have if they had been listed later (flipping a 49 to 51 defeat into a 51 to 49 victory). In fact, in about half the races I have studied, the advantage of first place is even bigger — certainly big enough to win some elections these days.

Order bias in surveys can stem from the order of the questions in the survey or the order of the answer choice within a question. For example early questions can prejudice the answers to later questions through a priming effect. In the context of categorical answers provided, if they are inherently unordered, their order might affect respondents choice over them.

Modern software allows you to randomize both if you anticipate a large problem.


There is also an order bias when it comes to evaluating people, be it for a job or a contest. I imagine this will be tested with American Idol data at some point. But it is better to be first or last, not in the middle.