Speaker: 鄭家昆
Time: 15:00 - 17:00, May 30, 2023
Venue: 北京大學(xué)王克楨樓1113
Abstract: We study experimentally correlation sensitivity in decision making under risk. We show that decision makers, within a general framework of correlation-sensitive preferences, can be classified into three categories based on their sensitivity to within-state payoff differences: increasingly or decreasingly sensitive, or correlation insensitive. We propose a novel experimental task that allows to classify experimental subjects according to this categorization. In a series of experiments, we find that aggregate choices display moderate decreasing sensitivity to within-state payoff differences, thereby rejecting the opposite counterpart imposed in regret and salience theory. Individual level analysis suggests that the aggregate findings are driven by a minority who consistently exhibit this behavior even when it violates first-order stochastic dominance. Finally, we disentangle between correlation sensitivity due to deliberate within-state comparisons and incidental payoff comparisons due to the framing of decision problems, and find that both channels produce correlation sensitivity, with deliberate comparisons being somewhat more important.
Bio: 鄭家昆，博士畢業(yè)于圖盧茲經(jīng)濟(jì)學(xué)院，牛津大學(xué)納菲爾德學(xué)院青年訪問(wèn)學(xué)者，2020年獲得國(guó)家優(yōu)秀留學(xué)生獎(jiǎng)學(xué)金，現(xiàn)任中國(guó)人民大學(xué)財(cái)政金融學(xué)院助理教授、中國(guó)人民大學(xué)杰出學(xué)者，風(fēng)險(xiǎn)與公共物品研究中心 (Center for Research on Uncertainty and Commons, CRUC)創(chuàng)始人之一。他的研究興趣包括行為經(jīng)濟(jì)學(xué)和決策理論及其在保險(xiǎn)、金融、環(huán)境和健康領(lǐng)域中的應(yīng)用。他近期在這些領(lǐng)域的研究發(fā)表在Journal of Health Economics, Journal of Economic Behavior and Organization, Insurance: Mathematics and Economics等。
Host: 朱露莎
2023-05-24