An Examination of Selfish and Selfless Motives

Current behavioral economics/game theory and social psychology literature have been captivated by the idea of altruism and egoism. In large part, these two disciplines have tried to determine the foundation of selfish and selfless behavior, without much result. The current chapter examines the root issues associated with this inquiry and argues for a shift in attention towards factors associated with cooperation. As such, empirical research from both disciplines is presented to show the advancements in relation to identification of these factors. Additionally, the authors offer a possible solution to the fractured literature in the form Weber, Kopelman, and Messick's (2004) dual process model in an effort to merge findings from both disciplines in an attempt progress this line of research.

An Agent-Based Model to Forecast the Inflation Rate in the Eurozone

The aim of the agent-based model presented in this chapter is to explain the determinants of inflation and to forecast the inflation rate in the Eurozone for the next five years. The behaviors of agents and their expectations are interrelated and explained by macroeconomic models applied to heterogeneous agents of three classes: individuals, companies and financial institutions. In addition, the behavior of public sector and central bank is also modeled with a single agent of each kind. Once the quantitative easing policy is implemented, the quantitative theory of money expects higher inflation rates in the long run. Inflation should remain low taking into account the Phillips-Curve. Last, according to the Aggregated Supply and Demand as well as to the Money Market equilibrium, the behaviors modeled allow forecasting low inflation. However, an external shock, as it would be an increase in the price of important commodities, can alter the inflation rate to a great extent.

Three Social Choice Rules

The authors analyze three social choice rules (plurality voting, approval voting and Borda count) from a behavioral economics perspective aiming three objectives: 1) if it is a viable solution to use these procedures during mass elections; 2) why individuals prefer a specific social choice rule and not another; 3) how status quo bias and framing effect influence the preference of individuals for a certain social choice rule. The research is conducted with 87 participants to a lab experiment and data suggest that for using approval voting and Borda count during mass elections is necessary to increase the people level of information about their benefits. When making a decision in a political or economic context seem that people tend to prefer simple plurality rule do to its availability and maybe because of its strong reliance with status quo bias.

Engineers' Perceptions of Contract Types' Performances for Highway Construction Projects

Research focuses on the perceptions of engineers towards highway projects contract types' (CTs) performance and their respective selection criteria (SC). A questionnaire survey evaluated the CTs against the selected criteria. The SPSS database's sample consisted of 91 engineers from Greece and abroad. Factor analysis identified groups of selection criteria representing the performance of each CT and reflecting the engineers' perceptions. Patterns of changes in engineers' assessment of the contract types' performance were noted and justified. Apart from the total sample, analysis considered participants' subgroups, such as Greek and foreign engineers, and experienced engineers in the private and public sector. Nationality and experience of participants influence the factors' content. Moreover, a number of criteria tend to cluster together irrespective of CT and engineers' profile. These pairs of criteria include all uncertainties' criteria, Scope and Process Uncertainty, Contractual Difficulties and Claims, and finally Value for Money and Criticality of Schedule.

Relational Dynamics

The effects of global warming are becoming apparent through- out the world. Europe has begun to experience more severe winters and increased rain (Steffen, 2011). Massive flooding in South Eastern Europe has devastated communities and repeatedly strains the economy of these regions resulting in mass trauma to the residents of multiple countries (Sito-Sucic & Djurica, 2014). Intergenerational effects of trauma (Bathory & Celik, 2014; Kaitz, Levy, Ebstein, Faraone, & Mankuta, 2009) have been noted to be an increasing world-wide concern. These traumatic effects are not only psychologically based but result in structural and functional changes within the brain and body (D. Bathory, 2012; D. S. Bathory, 2013a, 2013b; van der Kolk, Roth, Pelcovitz, Sunday, & Spinazzola, 2005). This chapter explores the application of decision making and Relational Dynamics to mass victims of floods by creating healing sites of sustainable energy and rural tourism to assist mass victims of natural disaster flooding.

How Behavioral Economics Can Help When You Think You Don't Have Enough Money

This work is a position paper discussing alternative viewpoints on factors that may influence the values of certain crucial healthcare efficiency indicators. We draw attention to the latest research in the area of behavioral economics, and make obvious certain inefficiencies in base healthcare packages, which are in close connection with human behavior. We begin with an analysis of healthcare expenses, first in absolute terms and then compare them with the Euro zone as well as former communist countries from Eastern Europe. The purpose is to offer multiple perspectives in relation to the widespread idea that medical care in Romania does not have the financial backing enjoyed in other places. We continue with the presentation of several healthcare variables and the attempt to find possible alternative explanations for their values and dynamics. Finally, we sum up with an emphasis on certain human behaviors that might underlie inefficiencies in healthcare packages and examine the corresponding experimental results, which offer some simple solutions to correct them.

Consumer-Retail Structure Interrelations as Seen in the Young Consumers' Photographs of Retail Environments

This chapter seeks to understand the multidimensionality of urban consumption and the nature and the levels of consumer – retail structure interrelations. A holistic conceptual framework of urban consumption is proposed. It views the needs, wants, and desires as the motivating forces for consumer behavior, and conceptualizes the dimensions of consumption space and the forms that consumption takes within these dimensions (the platforms of consumption). Qualitative data (respondent-generated photographs and written explanations) is used to exemplify the forms of consumption within the proposed platforms.

Inter-Temporal Choice and Its Relevance in Consumer's Credit Behavior

Inter-temporal choices have been an important aspect of Behavioral Economics, as they deal with time-dependent decision-making of people in various situations. This chapter discusses hyperbolic time-discounting, which has gained significant recognition and has become an important part of public-policy and economic studies in last few years. It also highlights the importance of this concept from a real-life perspective, by showing its relevance in credit-behavior of individuals. This is shown by highlighting the unstable preferences of individuals using credit-cards, which exploit time-inconsistent behavior. Despite the paucity of current research, understanding impulsive-behavior has gained popularity recently because of the relevance of wellbeing and happiness in the global scenario. As is evident, credit debt does hamper people's quality of life, and so it becomes important for researchers and policymakers to reduce impulsivity and self-control issues, by making consumers use costly commitment-devices and other behavioral options to help them make rational and justified choices.

An Integrative Approach to Study on Consumer Behavior towards Plug-In Hybrid Electric Vehicles Revolution

Transport electrification has experienced major deviations for the last few decades. Current investigation towards the implication of green technologies to decrease pollution and increase diffusion of renewable energy in the transportation sector are achieving more attention. The significance of plug-in hybrid electric vehicles (PHEVs) play a key role towards the policy option to reduce the environmental concern. There are major uncertainties in the diffusion of PHEVs timing of market distribution among consumers. However, there has been a considerable effort made towards the benefit of PHEVs demand. Yet, the debates on consumer behavioral economics towards the adoption of electric vehicles are less recognized. Researchers highlight the significance of PHEVs from a combined perspective considering PHEVs which allows bi-directional flow of electricity. However, it mainly focuses on interface among technology adoption and consumer behavior includes many other aspects such as individual adoption behavior, vehicles performance, environmental concern and power system demand.

Attitudes toward Tax Evasion and the Choice of Self-Employment

It is generally believed that self-employment offers ample opportunities for tax evasion. Therefore, this paper examines whether attitudes toward tax evasion has any influence on the choice of self-employment. Our analysis, based on a random sample of Americans, indicates that an individual who believes that tax evasion is “not wrong and a bit wrong” is more likely to be self-employed as compared to an individual who believes that tax evasion is “wrong and seriously wrong.” This decision is not affected by gender. In addition, our analysis finds that a self-employed person earns more income than a person who works for someone else. However, an individual who believes that tax evasion is “wrong and seriously wrong” earns more than an individual who believes that tax evasion is “not and a bit wrong”. Moreover, a self-employed person who believes that tax evasion is “not and a bit wrong” earns less than all other people, with all other parameters being the same.