Title

Econographics

Author(s)

Jonathan Chapman Jonathan Chapman (NYUAD)

Mark Dean Mark Dean (Columbia University)

Pietro Ortoleva Pietro Ortoleva (Princeton University)

Erik Snowberg Erik Snowberg (Caltech)

Colin Camerer Colin Camerer (Caltech)

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.

Creation Date

2020-11

Section URL ID

Paper Number

2020-75

URL

http://pietroortoleva.com/papers/Econographics.pdf

File Function

Jel

C90, D64, D81, D90, D91

Keyword(s)

Econographics, Reciprocity, Altruism, Trust, Costly Third-Party Punishment, Inequality Aversion, Risk Aversion, Common-Ratio Effect, Endowment Effect, WTA, WTP, Ambiguity Aversion

Suppress

false

Series

13