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Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg and Colin Camerer
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Jonathan Chapman: NYUAD
Mark Dean: Columbia University
Pietro Ortoleva: Princeton University
Erik Snowberg: Caltech
Colin Camerer: Caltech

Working Papers from Princeton University. Economics Department.

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.

Keywords: Econographics; Reciprocity; Altruism; Trust; Costly Third-Party Punishment; Inequality Aversion; Risk Aversion; Common-Ratio Effect; Endowment Effect; WTA; WTP; Ambiguity Aversion (search for similar items in EconPapers)
JEL-codes: C90 D64 D81 D90 D91 (search for similar items in EconPapers)
Date: 2020-11
New Economics Papers: this item is included in nep-ban, nep-cbe, nep-cwa, nep-evo, nep-exp, nep-neu and nep-upt
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