Stanford Institute for Theoretical Economics

Summer 2011 Workshop



Segment 8: Psychology and Economics, 9.0

September 23, 24 and 25, 2011.

Organized by Vincent Crawford, University of Oxford and University of California, San Diego; David Laibson, Harvard University; Ulrike Malmendier, University of California, Berkeley and B. Douglas Bernheim, Stanford University, Economics Department.




The session will meet in Conference Room A in Landau Economics Building.

Here is the map to the building.


Friday, September 23
8.30 - 9.00
9.00 - 9.15


9.15 - 9.55
Efficient Mechanisms for Level-k Bilateral Trading presented by Vincent Crawford, University of Oxford and University of California, San Diego
9.55 - 10.35

Decision Making with Imperfect Knowledge of the State Space presented by Alexander Vostroknutov, Maastricht University and co-authored with Friederike Mengel and Elias Tsakas, also Maastricht University

10.35 - 11.00
11.00 - 11.40
Explaining Nonconvex Preferences with Aspirational and Status Quo Reference Dependence presented by Russell Golman, Carnegie Mellon University and co-authored with George Loewenstein, Carnegie Mellon University
11.40 - 12.20
Expectations as Endowments: Evidence on Reference-Dependent Preferences from Exchange and Valuation Experiments presented by Andreas Fuster, Federal Reserve Bank of New York and co-authored with Keith M. Marzilli Ericson, Boston University School of Management
12.20 - 1.50

Lunchtime discussion

1.50 - 2.30
Decision-making Strategies and Performance Among Seniors presented by Tibor Besedeš, Georgia Institute of Technology and co-authored with Cary Deck, University of Arkansas; Sudipta Sarangi, Louisiana State University and DIW Berlin and Mikhael Shor, University of Connecticut
2.30 - 3.10

Examining Empirical Support for Discounting Assumptions from Intertemporal Choice Experiments presented by David Huffman, Swarthmore College and co-authored with Thomas Dohmen, Maastricht University; Armin Falk, University of Bonn; and Uwe Sunde, University of St. Gallen

3.10 - 3.40
3.40 - 4.20
Identity Signaling with Social Capital: A Model of Symbolic Consumption presented by Benjamin Ho, Cornell University and co-authored with Jonah Berger, University of Pennsylvania and Yogesh Joshi, University of Maryland
4.20 - 5.00
Salience Theory of Choice Under Risk presented by Andrei Shleifer, Harvard University and co-authored with Pedro Bordalo, Harvard University; Nicola Gennaioli, Universitat Pompeu Fabra
Dinnertime discussion
Saturday, September 24
8.30 - 9.00
9.00 - 9.40

Self Control and Liquidity: How to Design a Commitment Contract presented by John Beshears, Stanford University and co-authored with James J. Choi, Yale University; David Laibson and Brigitte C. Madrian, both Harvard University and Jung Sakong, Harvard University

9.40 - 10.20

Priming Ideology? Electoral Cycles Without Electoral Incentives Among U.S. Judges by Daniel L. Chen, Duke Law School and co-authored with Carlos Berdejó, Loyola Law School

10.20 - 10.50


10.50 - 11.30
Estimating Dynamic Discrete Choice Models with Hyperbolic Discounting, with an Application to Mammography Decisions presented by Hanming Fang, University of Pennsylvania and co-authored with Yang Wang, Lafayette College
11.30 - 12.10

Learning, Persistent Overconfidence, and the Impact of Training Contracts presented by Mitchell Hoffman, University of California, Berkeley

12.10 - 1.45
Lunchtime discussion
1.45 - 3.00

Behavioral Economics of Public Policy a keynote address by Sendhil Mullainathan, Harvard University

3.00 - 3.30
3.30 - 4.10
Wishful-Thinking: Model and Evidence presented by Guy Mayraz, University of Oxford
4.10 - 4.50

A Simple Look at Having Less presented by Anuj K. Shah, Princeton University and co-authored with Eldar Shafir, Princeton University and Sendhil Mullainathan, Harvard University

4.50 - 5.30
Neighborhood Effects in Tax Policy: Evidence from the Universe of EITC Claimants presented by Emmanuel Saez, University of California, Berkeley and co-authored with Raj Chetty and John N. Friedman, both Harvard University
Dinnertime discusssion
Sunday, September 25
8.15 - 8.45
8.45 - 9.25

Game Theory with Sparsity-Based Bounded Rationality presented by Xavier Gabaix, Leonard N. Stern School of Business, New York University

9.25 - 10.05
Slot Machine Stopping Decisions: Evidence for Prospect Theory Preferences? presented by Jaimie W. Lien, Tsinghua University, School of Economics and Management
10.05 - 10.30


10.30 - 11.10
A Testable Theory of Imperfect Perception presented by Andrew Caplin, New York University and co-authored with Daniel Martin, also New York University
11.10 - 11.50

Neural Activity Reveals Preferences Without Choices presented by Alec Smith, California Institute of Technology and co-authored with B. Douglas Bernheim, Stanford University, and Colin Camerer and Antonio Rangel, both California Institute of Technology

11.50 Box Lunch




SITE is funded by grants from the National Science Foundation and the Stanford Institute for Economic Policy Research (SIEPR). SITE receives additional financial support from the Department of Economics at Stanford University, which also houses its offices.