| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w28138
|
| 来源ID | Working Paper 28138
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| We are all Behavioral, More or Less: A Taxonomy of Consumer Decision Making |
| Victor Stango; Jonathan Zinman
|
| 发表日期 | 2020-11-30
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| 出版年 | 2020
|
| 语种 | 英语
|
| 摘要 | We examine how 17 behavioral biases relate to each other, to other decision inputs, and to decision outputs. Most consumers exhibit multiple biases in our nationally representative panel data. There is substantial heterogeneity across consumers, even within similar demographic/skill groups. Biases are positively correlated within person, especially after adjusting for measurement error, and less correlated with other inputs—risk aversion, patience, cognitive skills, and personality traits—with some expected exceptions. Accounting for this correlation structure, we reduce our 29 decision inputs to eight common factors. Seven common factors load on at least two biases, six on clusters of theoretically related biases, and two or three are distinctly behavioral. All but one common factor is distinct from cognitive skills. Factor scores strongly conditionally correlate with decisions and outcomes in various domains. We discuss several potential implications of this taxonomy for various approaches to modeling influences of behavioral biases on decision making. |
| 主题 | Econometrics
; Estimation Methods
; Data Collection
; Microeconomics
; Behavioral Economics
; Macroeconomics
|
| URL | https://www.nber.org/papers/w28138
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585812
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推荐引用方式
GB/T 7714 |
Victor Stango,Jonathan Zinman. We are all Behavioral, More or Less: A Taxonomy of Consumer Decision Making. 2020.
|
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文件名：
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w28138.pdf
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格式：
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Adobe PDF
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