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Econographics

Author

Listed:
  • Jonathan Chapman

    (NYUAD)

  • Mark Dean

    (Columbia University)

  • Pietro Ortoleva

    (Princeton University)

  • Erik Snowberg

    (Caltech)

  • Colin Camerer

    (Caltech)

Abstract

We study the pattern of correlations across a large number of behavioral regularities, with the goal of creating an empirical basis for more comprehensive theories of decision- making. We elicit 21 behaviors using an incentivized survey on a representative sample (n = 1,000) of the U.S. population. Our data show a clear and relatively simple structure underlying the correlations between these measures. Using principal components analysis, we reduce the 21 variables to six components corresponding to clear clusters of high correlations. We examine the relationship between these components, cognitive ability, and demographics. Common extant theories explain some of the patterns in our data, but each theory we examine is also inconsistent with some patterns.

Suggested Citation

  • Jonathan Chapman & Mark Dean & Pietro Ortoleva & Erik Snowberg & Colin Camerer, 2020. "Econographics," Working Papers 2020-75, Princeton University. Economics Department..
    • Handle: RePEc:pri:econom:2020-75
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    More about this item

    Keywords

    Econographics; Reciprocity; Altruism; Trust; Costly Third-Party Punishment; Inequality Aversion; Risk Aversion; Common-Ratio Effect; Endowment Effect; WTA; WTP; Ambiguity Aversion;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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