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The Importance of Being Marginal: Gender Differences in Generosity

By Stefano DellaVigna, John A. List, Ulrike Malmendier, and Gautam Rao

American Economic Review, May 2013

Do men and women have different social preferences? Previous findings are contradictory. We provide a potential explanation using evidence from a field experiment. In a door-to-door solicitation, men and women are equally generous, but women become less g...

www.aeaweb.org/articles?id=10.1257/aer.103.3.586

Two Happiness Puzzles

By Angus Deaton and Arthur A. Stone

American Economic Review, May 2013

We consider two happiness puzzles. First, many studies show that only relative income matters for well-being. Yet the Gallup data for the United States and from the rest of the world show no such result, at least for life evaluation. There may be relative...

www.aeaweb.org/articles?id=10.1257/aer.103.3.591

Subjective Well-Being and Income: Is There Any Evidence of Satiation?

By Betsey Stevenson and Justin Wolfers

American Economic Review, May 2013

Many scholars have argued that once "basic needs" have been met, further rises in income are not associated with further increases in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of r...

www.aeaweb.org/articles?id=10.1257/aer.103.3.598

Aggregating Local Preferences to Guide Marginal Policy Adjustments

By Daniel J. Benjamin, Ori Heffetz, Miles S. Kimball, and Nichole Szembrot

American Economic Review, May 2013

We propose a social choice rule for aggregating preferences elicited from surveys into a marginal adjustment of policy from the status quo. The mechanism is: (i) symmetric in its treatment of survey respondents; (ii) ordinal, using only the orientation of...

www.aeaweb.org/articles?id=10.1257/aer.103.3.605

The Psychology of Tail Events: Progress and Challenges

By Nicholas Barberis

American Economic Review, May 2013

Over the past decade there has been a surge of interest in "tail events," or rare, high-impact events. In this article, I start by summarizing some recent progress in our understanding of the psychology of tail events. I suggest that much of this progress...

www.aeaweb.org/articles?id=10.1257/aer.103.3.611

An Approach to Incorporating Psychology into Economics

By Matthew Rabin

American Economic Review, May 2013

This article proposes an approach to improving the psychological realism of economics while maintaining its conventional techniques and goals--formal theoretical and empirical analysis using tractable models, with a focus on prediction and estimation. Bes...

www.aeaweb.org/articles?id=10.1257/aer.103.3.617

Salience and Asset Prices

By Pedro Bordalo, Nicola Gennaioli, and Andrei Shleifer

American Economic Review, May 2013

We present a simple model of asset pricing in which payoff salience drives investors' demand for risky assets. The key implication is that extreme payoffs receive disproportionate weight in the market valuation of assets. The model accounts for several pu...

www.aeaweb.org/articles?id=10.1257/aer.103.3.623

Views among Economists: Professional Consensus or Point-Counterpoint?

By Roger Gordon and Gordon B. Dahl

American Economic Review, May 2013

To what degree do economists disagree about key economic questions? We provide evidence by using the responses to a series of questions posed to a distinguished panel of economists put together by the Chicago School of Business. Based on our analysis, we ...

www.aeaweb.org/articles?id=10.1257/aer.103.3.629

Economic Experts versus Average Americans

By Paola Sapienza and Luigi Zingales

American Economic Review, May 2013

We compare answers to policy questions by economic experts and a representative sample of the US population. We find a 35 percentage point difference between the two groups. This gap is only partially explained by differences in ideological or personal ch...

www.aeaweb.org/articles?id=10.1257/aer.103.3.636

Course Requirements for Bachelor's Degrees in Economics

By William Bosshardt, Michael Watts, and William E. Becker

American Economic Review, May 2013

We conducted a national survey of department Chairs to investigate whether departments of economics changed course requirements for bachelors degrees since the Siegfried and Bidani (1992) paper using 1980 data. There have been few changes to course requir...

www.aeaweb.org/articles?id=10.1257/aer.103.3.643

One Essay on Dissertation Formats in Economics

By Wendy A. Stock and John J. Siegfried

American Economic Review, May 2013

Dissertations in economics have changed dramatically over the past forty years, from primarily treatise-length books to sets of essays on related topics. We document trends in essay-style dissertations across several metrics, using data on dissertation fo...

www.aeaweb.org/articles?id=10.1257/aer.103.3.648

How Economists Allocate Time to Teaching and Research

By Sam Allgood and William B. Walstad

American Economic Review, May 2013

This study investigates three questions: (i) are there differences in teaching and research behavior between economists and other professors; (ii) do economists in the top 100 research departments allocate time differently than faculty in other discipline...

www.aeaweb.org/articles?id=10.1257/aer.103.3.654

Economic Understanding in US High School Courses

By William B. Walstad

American Economic Review, May 2013

The effects of courses on student achievement are studied using 2006 data from the National Assessment of Educational Progress (NAEP) in economics. A regression analysis showed expected and significant achievement differences by course, with the highest s...

www.aeaweb.org/articles?id=10.1257/aer.103.3.659