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Cited by 78Experimental Behavioral Economics StudiesDecision-Making and Behavioral EconomicsEconomic Theory and Institutions

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The empirical relationship between nonstandard economic behaviors

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Dean, Mark, Ortoleva, Pietro·2019·Proceedings of the National Academy of Sciences
DOI 10.1073/pnas.1821353116PMC PMC6697808
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Abstract

Significance: A large literature in behavioral and experimental economics has identified a long list of robust phenomena that are hard to explain within the classic model of economic choice. These are, however, typically analyzed independently. We study the joint distribution of 11 of the most prominent behaviors using an incentivized laboratory experiment involving undergraduate students. Our main aim is to provide empirical guidance in the construction of a unified, parsimonious model of economic behavior, an important step in integrating behavioral insights into broader economic and policy analysis. We find that some of these phenomena are strongly related to each other, while others are independent. This provides evidence in support of some of the proposed attempts at unification, but not others.

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Metadata

Authors
Dean, M., & Ortoleva, P.
Affiliations
  • Columbia University (US)
  • Princeton University (US)
ORCID
Ortoleva, Pietro
Venue
Proceedings of the National Academy of Sciences
Publisher
National Academy of Sciences
Published
2019-07-26
Volume
116
Issue
33
Pages
16262-16267
ISSN
  • 0027-8424 (ISSN-L)
  • 1091-6490
DOI
10.1073/pnas.1821353116
PMC
PMC6697808
OpenAlex
W2964547847
Cited by
78
References
2
Citations by year
2026: 6 · 2025: 13 · 2024: 8 · 2023: 15 · 2022: 14 · 2021: 12 · 2020: 6 · 2019: 1
FWCI
14.43
Type
journal article
Language
en
Open access
Licence
www.pnas.org/site/aboutpnas/licenses.xhtml (vor, 184 d)
Locations
  • Proceedings of the National Academy of Sciences (publishedVersion)
  • PubMed Central (publishedVersion)
  • PubMed (publishedVersion)
Funders
National Science Foundation (SES-1156091)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Experimental Behavioral Economics Studies
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
Keywords
behavioral economics, experimental economics
MeSH terms
Choice Behavior, Decision Making, Female, Humans, Male, Surveys and Questionnaires, Risk-Taking, Economics, Behavioral

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CoChat. (2026). Citation check: The empirical relationship between nonstandard economic behaviors. https://app.cochat.ai/papers/10.1073/pnas.1821353116
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Dean, M., & Ortoleva, P. (2019). The empirical relationship between nonstandard economic behaviors. Proceedings of the National Academy of Sciences. https://doi.org/10.1073/pnas.1821353116