»ESI Lecture Series, sponsored by IFREE
+-2014-2015 Lecture Guests
Abstract: Eminent domain is widely considered a necessary tool to avoid seller holdout and ensure efficient land assembly. We conduct a series of laboratory experiments that challenge this conventional wisdom. We find that when there is no competition and no eminent domain, land assembly suffers from costly delay and failed assembly, resulting in participants losing 18.1% of the available surplus. Much of this delay is due to low offers from the buyers rather than strategic holdout among sellers. Introducing weak competition in the form of a less valuable substitute parcel of land reduces delay by 35.7% and virtually eliminates assembly failure, so that only 11.5% of the surplus is lost. When buyers can exercise eminent domain the participants lose 18.6% of the surplus. This loss comes from spending money to influence the fair market price and forcing sellers to sell even when they value the property more than the buyer.
Bio: Matthew W. McCarter earned his B.S. in management from Brigham Young University in Provo, Utah and received a Ph.D. in business administration from the College of Business at the University of Illinois at Urbana–Champaign. He is assistant professor of management at the College of Business at the University of Texas at San Antonio and a research affiliate at the Economic Science Institute. Matthew's primary research interest is managerial decision making with a particular interest in social dilemmas and collaboration problems in organizational settings. Matthew employs field survey, case study, archival data, simulations, and experimental research methods to capture a fuller picture of how managerial decisions can be effectively made and collective action achieved in organizational settings. He has published in a variety of scholarly outlets including Academy of Management Review, Organizational Behavior & Human Decision Processes, Journal of Operations Management, and Journal of Business Logistics.
December 5, 2014, Gabriel Rossman, Ph.D. - Obfuscatory Relational Work and Disreputable Exchange
Abstract: This article develops a model of how the structure of exchange can manage such disreputable exchanges as the commensuration of sacred for profane. Whereas existing research discusses the rhetorical reframing of exchange, I highlight structures that obfuscate whether an exchange is occurring and thereby mitigate exchange taboos. I identify three such exchange structures: bundling, brokerage, and gift exchange. Bundling uses cross-subsidization across multiple innocuous exchanges to synthesize a taboo exchange. Brokerage finds a third party to accept responsibility for exchange. Gift exchange delays reciprocity and reframes exchanges as expressions of friendship. All three strategies have alternative meanings and so provide plausible deniability to taboo commensuration. The article concludes by arguing that these sorts of exchange structures represent a synthesis of “nothing but” reductionism and “hostile worlds” moralism, rather than an alternative to them as Viviana Zelizer suggests.
Bio: Gabriel Rossman is an associate professor of sociology at the University of California-Los Angeles. His research interests include economic sociology and the entertainment industry. He recently published Climbing the Charts: What Radio Airplay Teaches Us About the Diffusion of Innovation. His two current research projects are the institutionalization of the gourmet food truck industry and how people negotiate taboos on economic exchange.
Nov. 7, 2014, Monica Capra, Ph.D. - The Neurobiology of Pre-play Communication
May 12, 2014, Don Ross, Ph.D - Psychological versus economic models of bounded rationality - Watch lecture
Dec. 06, 2013, Jack Stecher, Ph.D. -Description and Experience Based Decision Making: An Experimental and Structural Estimation Approach to the Decision-Experience Gap
Feb. 22, 2013 Jordi Brandts Bernad, Ph.D. - Let’s talk: How communication affects contract design.
Nov. 9, 2012 Uri Gneezy, Ph.D. - Incentives and Behavior Change
Sept. 28, 2012 Charles Thomas, Ph.D. - An Alternating-Offers Model of Multilateral Negotiations - Watch lecture
Aug. 31, 2012 Yan Chen, Ph.D. - Crowdsourcing with All-pay Auctions: a Field Experiment on Taskcn - Watch lecture
Apr. 20, 2012 Shawn Kantor, Ph.D. - Do Research Universities Generate Local Economic Growth? - Watch lecture
Feb. 24, 2012 John Tooby, Ph.D. - The Welfare Tradeoff Architecture, Cooperation, and Social Emotions - For further reading please see: Formidability and the logic of human anger and The architecture of human kin detection. - Watch lecture
Nov. 11, 2011 Mark M. Bykowsky, Ph.D. - A Market-based Approach to Establishing Licensing Rules: Licensed Versus Unlicensed Use of Spectrum Federal Communications Commission - please watch this video before lecture - Watch lecture
Oct. 21, 2011 Parker Ballinger, Ph.D. - Individual versus Social Learning: The Importance of Demonstrability - Watch lecture
Apr. 8, 2011 Kevin McCabe, Ph.D. – Experiments on the role of third parties on redistribution decisions. For further reading please see: Shared Experience and Third-Party Decisions: A Laboratory Result, Legitimacy in the lab – The separate and joint effects of earned roles and earned endowments in third-party redistribution, Whose money is it anyway? Ingroups and distributive behavior. - Watch lecture
Apr. 1, 2011 Michael Gurven, Ph.D. - Experimental investigation of fairness and altruism norms in small-scale societies - Further reading: Culture sometimes matters: Intra-cultural variation in pro-social behavior among Tsimane Amerindians and Collective Action in Action: Prosocial Behavior in and out of the Laboratory - Watch lecture
Feb. 18, 2011 Catherine Eckel, Ph.D. - Giving to Government: Voluntary Taxation in the Lab - Watch lecture
Feb. 4, 2011 Peter Boettke, Ph.D. - Polycentrism and Gargantua: Which Model Best Provides Public Education? - Watch lecture
Oct. 5, 2010 Andreas Wilke, Ph.D. - Past and Present Environments: The Evolution of Decision Making
May 7, 2010 Jim Gentle, Ph.D. - The Contribution of Jumps to the Volatility of Asset Prices - Watch lecture
Apr. 9, 2010 Gregory Waymire, Ph.D. - Can Trust Be Sustained in an Uncertain World When Individuals Have Machiavellian Intelligence? - Watch lecture
Feb. 5, 2010 Kevin McCabe, Ph.D. - Watch lecture
Dec. 2, 2009 Jeffrey Tollaksen, Ph.D. - New Ideas About the Nature of Time - Watch lecture
Nov. 13, 2009 Sarah F. Brosnan, Ph.D. - An Evolutionary Perspective on the Perception and Utilization of Property . Watch lecture
Oct. 9, 2009 Monica Smith, Ph.D. - A cognitive History of Material Objects: The Archaeology of Possession, Inheritance, and Value . Watch lecture
May 20, 2009 Gerd Gigerenzer Ph.D. - Homo Heuristicus: Why Biased Minds Make Better Inferences. Watch lecture
Mar. 20, 2009 John Ledyard Ph.D. – Individual Evolutionary Learning, Other-regarding Preferences, and the Voluntary Contributions Mechanism. Watch lecture
Nov. 7, 2008 Larry Iannaccone Ph.D. - Looking Backward: A Cross-National Study of Religious Trends. Watch lecture
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