Problems, Methods and Tools in Experimental and Behavioral Economics: Computational Methods in Experimental Economics (CMEE) 2017 Conference

333 Pages·2018·6.28 MB·English

by  Kesra Nermend

Springer Proceedings in Business and Economics
Kesra Nermend 
Editors
Małgorzata Łatuszyńska   
Problems, Methods
and Tools in
Experimental and
Behavioral Economics
Computational Methods in
Experimental Economics (CMEE) 2017
Conference
Springer Proceedings in Business and Economics
More information about this series at http://www.springer.com/series/11960
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Kesra Nermend Ma gorzata atuszy ska
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Editors
Problems, Methods and Tools
in Experimental
and Behavioral Economics
Computational Methods in Experimental
Economics (CMEE) 2017 Conference
123
Editors
Kesra Nermend MałgorzataŁatuszyńska
Faculty of Economics Faculty of Economics
andManagement andManagement
University of Szczecin University of Szczecin
Szczecin,Poland Szczecin,Poland
ISSN 2198-7246 ISSN 2198-7254 (electronic)
SpringerProceedings in Business andEconomics
ISBN978-3-319-99186-3 ISBN978-3-319-99187-0 (eBook)
https://doi.org/10.1007/978-3-319-99187-0
LibraryofCongressControlNumber:2018951918
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Preface
Experimental and behavioral economics are essential part of modern economics.
Experimental economy adapts methods developed in the natural sciences to study
economicbehavior.Thelatestresearchincludesexperimentsbothinthelaboratory
and in the field, and the results are used to test and better understand economic
theories. Behavioral economics tries to make economics a more appropriate and
powerful science about human behavior, integrating insight into psychology and
social sciences into economics.
Experimentalandbehavioraleconomicsaredynamicfieldsofeconomicresearch
that shed new light on many known and important economic issues. Being young,
these fields have gained wide recognition in the twenty-first century, for example,
by awarding the 2002NobelPrize inEconomicstoDanielKahneman andVernon
Smith. Other Nobel Prize winners—Elinor Ostrom in 2009, Alvin Roth in 2012,
and Richard Thaler in 2017, also significantly contributed to the development
of these areas.
Experimental and behavioral economics are rapidly evolving. This book cannot
therefore provide a comprehensive overview, but focuses on selected topics. It
includesthepapersofresearcherswhoareinterestedinexperimentalandbehavioral
economics and represent a certain level of experience in these fields. Its main
purposeistoillustratethelinksbetweenvariousfieldsofknowledgethatarepartof
experimental and behavioral economics.
The book is divided into three parts:
I Theoretical Aspects of Contemporary Economics.
II Methods and Tools of Contemporary Economics.
III Practical Issues—Case Studies.
As the title suggests, the first part of the book presents the theoretical founda-
tions of contemporary economics with particular emphasis on behavioral eco-
nomics. It outlines the differences between the mainstream economics and
behavioral economics, indicates the directions of using behavioral economics
achievementsincreatingpublicpolicy,andpresentstheareasofbehavioralfactors’
v
vi Preface
impactonthepossibilityofeffectivecostmanagement.Italsodiscussestheoretical
aspects related to the problem of equilibrium in behavioral economics as well as
several other issues referring to the contemporary economics.
Thesecondpartofthebookcontainsageneraloutlineofmethodsandtoolsthat
support scientists in the field of experimental and behavioral economics. The out-
line presents both methods commonly used by scientists (such as statistical ones),
aswell asthoseusuallylessassociated with economics (e.g., artificialintelligence,
computer simulation, cognitive neuroscience techniques, or multicriteria decision
support methods), indicating their potential application in behavioral economics
and economic experiments.
The last part of the volume presents examples of behavioral and experimental
researchinthefieldofeconomics.Theyusevariousmethodsandtoolsdescribedin
the methodological chapters of the book. There are shown only selected case
studies, but they outline a wide range of topics connected to experimental and
behavioral economics.
Issues raised in the monograph do not exhaust the subject of experimental and
behavioraleconomics.Yet,intheopinionoftheeditors,itshowswellthediversity
of areas, problems, methods, techniques, and domains concerning this subject.
Szczecin, Poland Małgorzata Łatuszyńska
Kesra Nermend
Contents
Part I Theoretical Aspects of Experimental and Behavioral
Economics
1 Mainstream Economics Versus Behavioral Economics—A
Contribution to Reflection. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Ewa Mazur-Wierzbicka
2 Behavioral Aspects of Cost Management . . . . . . . . . . . . . . . . . . . . 21
Teresa Kiziukiewicz and Elzbieta Jaworska
3 The Financial Management of Households—Behavioral
Economics Perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Katarzyna Włodarczyk
4 Propensity to Risk and the Prospect Theory. . . . . . . . . . . . . . . . . . 47
Mariusz Doszyń
5 Some Theoretical Aspect of Equilibrium in Behavioral
Economics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
H. Kowgier
Part II Methods and Tools of Contemporary Economics
6 Intuitive Methods Versus Analytical Methods in Real Estate
Valuation: Preferences of Polish Real Estate Appraisers. . . . . . . . . 79
Iwona Foryś and Radosław Gaca
7 Methodology for Choosing the Location for In-Game
Advertising Billboards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
Kesra Nermend and Jarosław Duda
8 Neuromarketing Tools in Studies on Models of Social Issue
Advertising Impact on Recipients . . . . . . . . . . . . . . . . . . . . . . . . . . 99
Mateusz Piwowarski
vii
viii Contents
9 Impact of Negative Emotions on Social Campaigns
Effectiveness—Measuring Dilemmas . . . . . . . . . . . . . . . . . . . . . . . . 113
Anna Borawska and Dominika Maison
10 Use of Computer Game as an Element of Social
Campaign Focusing Attention on Reliability of
Information in the Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Mariusz Borawski
11 ApplicationoftheSurvivalTreesforEstimationofthePropensity
to Accepting a Job and Resignation from the Labour Office
Mediation by the Long-Term Unemployed People . . . . . . . . . . . . . 141
Beata Bieszk-Stolorz and Krzysztof Dmytrów
12 Expressing Our Preferences with the Use of AHP: The Game
Is not Worth the Candle? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155
Jacek Cypryjański and Aleksandra Grzesiuk
13 Experimental Study of Consumer Behavior Using Agent-Based
Simulation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167
Fatimah Furaiji and Małgorzata Łatuszyńska
Part III Practical Issues—Case Studies
14 The Relationship Between Doctors’ Communication and Trust
in Doctor: Some Behavioural Data . . . . . . . . . . . . . . . . . . . . . . . . . 187
Iga Rudawska and Katarzyna Krot
15 Wine Tasting: How Much Is the Contribution
of the Olfaction? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199
Patrizia Cherubino, Giulia Cartocci, Enrica Modica, Dario Rossi,
Marco Mancini, Arianna Trettel and Fabio Babiloni
16 Information Assimilation as a Decisive Factor About
Website User’s Behaviors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211
Michał Nowakowski
17 Participatory Budgeting as Example of Behavioural Impact
of Public Policies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231
Beata Zofia Filipiak and Marek Dylewski
18 Confirmation Bias in Valuation of Footballers’ Performance
Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249
Sebastian Majewski
19 Comparison of the Order-Picking Route and Time Obtained
by Using the TMAL Method with Results of Selected Take-Out
Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 261
Krzysztof Dmytrów
Contents ix
20 Simulation Game “Step into the Future” as a Tool
of Experimental Economics—Case Study . . . . . . . . . . . . . . . . . . . . 273
Barbara Kryk
21 Behavioral Economics and Rationality of Certain Economic
Activities: The Case of Intra-Community Supplies . . . . . . . . . . . . . 285
Paweł Baran and Iwona Markowicz
22 Cognitive Reflection Test in Predicting Rational Behavior
in the Dictator Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301
Monika Czerwonka, Aleksandra Staniszewska and Krzysztof Kompa
23 A Scientific Experiment as a Research Method in the Tourism
Sector in the Context of Increased Terrorism Risks . . . . . . . . . . . . 313
Rafał Nagaj and Brigita Žuromskaitė
24 The Role of Behavioral Methods Used in Research on Tourism
Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331
Rafał Nagaj and Brigita Žuromskaitė
Part I
Theoretical Aspects of Experimental and
Behavioral Economics