Seminar Series

2022 - 2023

Speaker: Christoph Heinzel (Inra Rennes).

Title: “Robustness of Inferences in Risk and Time Experiments to Lifecycle Asset Integration”

joint with AJ Bostian (U of Tampere, Finland).

Date: Thursday, September 29th at 12h30 (Paris Time).

Abstract: Participants in an experiment can engage in unobservable asset integration, mentally incorporating their own non-experimental “field” resources into an otherwise controlled scenario. This paper extends asset integration to include intertemporal tradeoffs like consumption smoothing. A model of “lifecycle asset integration” shows that exogenous and endogenous field resources cause different interference patterns. Exogenous resources cannot be affected by the experiment, and so their interference can be controlled by accounting for their level. Endogenous resources, by contrast, are highly substitutable with the experiment, and their interference can be controlled only by modeling the entire experiment-field interaction. The model’s practical implications are investigated in the context of three classic laboratory experiments on risk and time: one static (Holt and Laury, 2002) and two dynamic (Andersen et al., 2008; Andreoni and Sprenger, 2012). As interference worsens, decisions in these tasks tend to exhibit a kind of attenuation bias toward less risk aversion and more patience. Interference occurs reliably when field resources are on household scales, but amounts on the scale of pocket change can also cause problems.

Bio: Here is a link to the speaker’s website

www.cheinzel.de

You are cordially invited to participate to the seminar, which will take place in Room 204, Bosco building. For those who will not be in the room, please find the zoom link below:

https://tbs-education-fr.zoom.us/j/96680110756?pwd=WWY0WVF4bzZRRUlnYlhOREFkNHdXdz09

For more information, please contact: Pierre Mella-Barral p.mella-barral@tbs-education.fr