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Title: Essays on individual decision making in the field
Author: Quispe-Torreblanca, Edika G.
ISNI:       0000 0004 7972 4334
Awarding Body: University of Warwick
Current Institution: University of Warwick
Date of Award: 2018
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This thesis consists of three independent studies in the field of behavioural and economic science. The aim is to provide a better understanding of individual decision making using large field datasets and the techniques from econometrics. Chapter 1 introduces the relevant literature. Chapter 2 investigates deviant behaviour among police officers. It addresses two questions: What is the effect of corrupting colleagues on officers' misconduct? Can misconduct be deterred by sanctions? By analysing data from 50,000 officers, we show that officers learn to reduce their own risk of misconduct but that misconduct amongst their peers increases their own risk of misconduct. Chapter 3 analyses how mental accounting influences intertemporal choices in credit card repayment. We test the major prediction of Prelec and Loewenstein's (1998) theory of mental accounting: that consumers will pay off expenditure on transient forms of consumption more quickly than expenditure on durables. Using data from 1.8 million credit card accounts, we provide the first field evidence in support for this prediction. Chapter 4 discusses how investors pay selective attention to their portfolios. We use a rich dataset containing investors' daily login and trading activity. First, we study whether investors deliberately reduce their attention to negative news (demand side for attention). Second, we evaluate how changes in the opportunity cost of attention affect investors' login activity (supply side for attention). We use weather shocks as an exogenous source of changes in the opportunity cost of attention. Our results show that when investors anticipate that their portfolio has dropped in value, they regulate the hedonic pain of negative news by logging in less often. Also, on sunny days, they substitute viewing their portfolio for other less costly leisure activities. We conclude with some comments and future directions for the endeavour of addressing questions in psychological science with big datasets combined with the techniques from econometrics.
Supervisor: Not available Sponsor: Economic and Social Research Council
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: BF Psychology