Nobel Laureate Vernon Smith and Presidential Fellow Steven Gjerstad examine the forces that led to the Great Recession It’s safe to say that when two of the top economic scientists on the planet — Chapman University’s Nobel Laureate Vernon L. Smith and Chapman Presidential Fellow Steven D. Gjerstad — collaborate on a new book
Jan. 7th-11th , the Economic Science Institute, with a generous grant from the International Foundation for Research in Experimental Economics (IFREE) , hosted 23 doctoral students from universities all over the world for the 19th Visiting Graduate Student Workshop in Experimental Economics. In a series of 10 sessions, the students first participated in an economic
Abstract: The social dilemma paradigm is popular across many domains of the social sciences because it is a metaphor for understanding the practically significant problem of resource scarcity in organizations, communities, and nations. However, there is a “significant difference” between findings being statistically significant and practically significant. Using the population of empirical social-dilemma articles published from
Value computation and value modulation: a dual-process theory of self-control Abstract: We develop a theory of self-control based on a dual process approach. One brain system computes the goal value of consumption and another brain system can modulate this value by exerting costly self-control, thereby incorporating high-order considerations in the decision (e.g., healthiness or long
Watch lecture Abstract: All elements of the defense department’s budget face scrutiny as military funding decreases. Military compensation is an attractive target because it represents approximately one third of the defense budget. Our research examines mechanisms to improve several areas of military compensation, particularly emphasizing retention, separation, and assignment incentives. This paper proposes a reverse
Oct. 11, David Malueg, Ph.D. – The Best-Shot All-Pay (Group) Auction with Complete Information Abstract : We analyze an all-pay group contest problem in which individual members’ efforts are aggregated via the best-shot technology and the prize is a public good for the winning group. The interplay of within-group free-riding and across-group competition allows for
September 6, Michel Regenwetter, Ph.D. – Random Preference and Distribution-free Random Utility For more information on the IFREE/ESI Lecture Series, please visit our website.
Congratulations Dr. Bart Wilson of the Economic Science Institute! The 2012 Oliver E. Williamson Prize for Best Article in the Journal of Law, Economics, and Organization was awarded to Bart J. Wilson, Taylor Jaworski, Karl E. Schurter, and Andrew Smyth for their article entitled, “The Ecological and Civil Mainsprings of Property: An Experimental Economic History
“ObamaCare will be argued next week in the Supreme Court. While the justices will consider the intricacies of constitutional law, at their heart the arguments in favor of the legislation have to do with the economics of health care.” Read the full article on The Wall Street Journal Online, Opinion section.
Dr. Vernon L. Smith of the Economic Science Institute was interview by Rick Reiff with the SoCal Insider on China, experimental economics, and the housing crisis and outlook. You can download the episode here!