FOR "Psychoeconomics" TP 05 Personality Traits, Preferences and Economic Success

Description

This research project focuses on the relationship between personal traits, individual preferences, and economic success. The goal is to achieve a better understanding of individual preference formation and economic decision making incorporating the concept of dual-processing.

Personality traits are inherently hard to measure, so empirical approaches should take into account the presence of measurement errors. Most of the empirical approaches adopted thus far rely on simple parametric and linear latent structure models. More recently, Bayesian factor structure models have been proposed (Carneiro et al. 2003; Hansen et al. 2004) which allow the researcher to tackle both the measurement error problem and the endogeneity problem. Moreover, the Bayesian approach allows for analyzing models with large number of measurements and factors, which can be selected endogenously by appropriate parsimonious Bayesian factor selection techniques.

 

The empirical studies will be based on large scale panel data using econometric models for nonexperimental evaluation of causal treatment effects and Bayesian factor models. The project will also contribute to a methodological advancement of these models.

Institutions
  • FB Wirtschaftswissenschaften
Publications
  Seiberlich, Ruben R. (2013): Three Essays on Semiparametric Econometric Evaluation : Methods and Applications

Three Essays on Semiparametric Econometric Evaluation : Methods and Applications

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This dissertation consists of three stand-alone research papers on the semiparametric estimation of treatment effects. Treatment effects refer to the causal effect of a variable on an outcome variable of interest and the semiparametric estimation avoids the parametric assumptions on the outcome equation. The thesis is organized as follows: In the first chapter we analyze the effect of individual characteristics on the test score gaps between different Eastern European countries and Finland. Additionally, we look at the test score gaps between Eastern European counties. The second chapter analyzes the gender test score gap in a within country study for Turkey. In this chapter we evaluate the effect of individual characteristics, family characteristics and school characteristics on the gender test score gap. The third chapter deals with inverse propensity score weighting estimators and double robust estimators. In this chapter a new estimation procedure is developed, which allows to estimate the treatment effects with a lower mean squared error.

Origin (projects)

Funding sources
Name Project no. Description Period
Forschergruppe571/12no information
Further information
Period: 01.10.2012 – 30.09.2015