Aldo Rustichini
Dados Biográficos
| ID | 5735847 |
|---|---|
| NOME | Aldo Rustichini |
| PRENOMES | Aldo |
| SOBRENOME | Rustichini |
| ASSINATURA | RUSTICHINI A |
| AFILIAÇÕES | University of Minnesota |
| ORCID | 0000-0003-3232-351X |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 24 |
| TOTAL DE CITAÇÕES | 47 |
| TOTAL COMO AUTOR | 24 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 2000 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 5 |
Learning in Interactive Decision-Making
A remarkable feature of human intelligence is the ability to optimize our decisions based on the potential actions of others. This ability, i.e., strategic sophistication, is crucial in strategic interactions, where we need to predict others’ actions (first-order beliefs), anticipate others’ beliefs about our own possible actions (second-order beliefs), and optimize decisions based on such beliefs. While behavioral research has highlighted system…
Risky decisions are influenced by individual attributes as a function of risk preference
It has long been assumed in economic theory that multi-attribute decisions involving several attributes or dimensions - such as probabilities and amounts of money to be earned during risky choices - are resolved by first combining the attributes of each option to form an overall expected value and then comparing the expected values of the alternative options, using a unique evidence accumulation process. A plausible alternative would be performin…
The association between saving disposition and financial distress
Educational Attainment and Intergenerational Mobility
We extend a standard model of parental investment and intergenerational mobility to include a fully specified genetic analysis of skill transmission. The model’s predictions differ substantially from the standard model’s. The coefficient of intergenerational income elasticity (IGE) may be larger than that in the standard model and depends on the distribution of the genotype. The distribution of genetic endowments may be stratified according to in…
Polygenic prediction of educational attainment within and between families from genome-wide association analyses in 3 million individuals
We conduct a genome-wide association study (GWAS) of educational attainment (EA) in a sample of ~3 million individuals and identify 3,952 approximately uncorrelated genome-wide-significant single-nucleotide polymorphisms (SNPs). A genome-wide polygenic predictor, or polygenic index (PGI), explains 12–16% of EA variance and contributes to risk prediction for ten diseases. Direct effects (i.e., controlling for parental PGIs) explain roughly half th…
Law of demand and stochastic choice
We consider random choice rules that, by satisfying a weak form of Luce’s choice axiom, embody a form probabilistic rationality. We show that for this important class of stochastic choices, the law of demand for normal goods—arguably the main result of traditional consumer theory—continues to hold on average when strictly dominated alternatives are dismissed
School friendship networks, homophily and multiculturalism
Intelligence, Personality, and Gains from Cooperation in Repeated Interactions
We study how intelligence and personality affect the outcomes of groups, focusing on repeated interactions that provide the opportunity for profitable cooperation. Our experimental method creates two groups of subjects who have different levels of certain traits, such as higher or lower levels of Intelligence, Conscientiousness, and Agreeableness, but who are very similar otherwise. Intelligence has a large and positive long-run effect on coopera…
Cognitive, Noncognitive, and Family Background Contributions to College Attainment
There is considerable evidence that college attainment is associated with family background and cognitive and noncognitive skills. Behavioral genetic methods are used to determine whether the family background effect is mediated through cognitive and noncognitive skill development. We analyze data from two longitudinal behavioral genetic studies: the Minnesota Twin Family Study, consisting of 1,382 pairs of like‐sex twins and their parents, and t…
Genome-wide association study identifies 74 loci associated with educational attainment
Intelligence and Extraversion in the neural evaluation of delayed rewards
Life satisfaction, income and personality
Group payoffs as public signals
GWAS of 126,559 Individuals Identifies Genetic Variants Associated with Educational Attainment
Genetic College Many genomic elements in humans are associated with behavior, including educational attainment. In a genome-wide association study including more than 100,000 samples, Rietveld et al. (p. 1467 , published online 30 May; see the Perspective by Flint and Munafò ) looked for genes related to educational attainment in Caucasians. Small genetic effects at three loci appeared to impact educational attainment.
Why Blame
We provide experimental evidence that subjects blame others on the basis of events they are not responsible for. In our experiment an agent chooses between a lottery and a safe asset; payment from the chosen option goes to a principal, who then decides how much to allocate between the agent and a third party. We observe widespread blame: regardless of their choice, agents are blamed by principals for the outcome of the lottery, an event they are …
Decision making and equilibria
Cognitive skills affect economic preferences, strategic behavior, and job attachment
Economic analysis has so far said little about how an individual's cognitive skills (CS) are related to the individual's economic preferences in different choice domains, such as risk taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee truckers we report three findings. First, there is a strong and significant relationship between an individual's CS and preferences. Individuals wit…
Behavioural Economics and its Applications
Proceedings of the Yrjo Jahnsson Foundation 50th Anniversary Conference held on June 22–23, 2004 in Espoo, Finland. Behavioural economics is here to stay, but it is not easy to come up with a definition of exactly what it is. The range of work within economics that might reasonably be called behavioural is very wide. At one end of the spectrum, there are conservative experimenters who defend traditional economic theory by looking at situations in…
Individual Behavior and Group Membership
People who are members of a group and identify with it behave differently from people who perceive themselves as isolated individuals. This paper shows that group membership affects preferences over outcomes, and saliency of the group affects the perception of the environment. We manipulate the saliency of group membership by letting a player's own group watch as a passive audience as decisions are made, and/or by making part of the payoff common…
Overconfident
A group exhibits overconfidence if significantly more than half the group members declare to be better than the median in some characteristic. Overconfidence was found in verbal reports for a variety of characteristics and settings but was less often studied for choice behaviour. In an experiment we tested how perceived relative skill influences verbal and choice behaviour. Treatments varied task difficulty and payment. Choice behaviour changes f…
Gender and Competition at a Young Age
Gender gaps may be observed in a variety of economic and social environments. One of the possible determining factors is that men are more competitive than women and so, when the competitiveness of the environment increases, the performance of men increases relative to that of women. We test this hypothesis in a field study conducted with 9-year old children, running on a track. They first run alone and then in pairs over a short distance with di…
Performance in Competitive Environments
In spite of the fact that equal opportunities for men and women have been a priority in many countries, enormous gender differences prevail in most competitive high-ranking positions. We conduct a series of controlled experiments to investigate whether women might react differently than men to competitive incentive schemes commonly used in job evaluation and promotion. We observe no significant gender difference in mean performance when participa…
Pay Enough or Don't Pay at All
Economists usually assume that monetary incentives improve performance, and psychologists claim that the opposite may happen. We present and discuss a set of experiments designed to test these contrasting claims. We found that the effect of monetary compensation on performance was not monotonic. In the treatments in which money was offered, a larger amount yielded a higher performance. However, offering money did not always produce an improvement…
A Fine is a Price
The deterrence hypothesis predicts that the introduction of a penalty that leaves everything else unchanged will reduce the occurrence of the behavior subject to the fine. We present the result of a field study in a group of day‐care centers that contradicts this prediction. Parents used to arrive late to collect their children, forcing a teacher to stay after closing time. We introduced a monetary fine for late‐coming parents. As a result, the n…
Overconfident
A group exhibits overconfidence if significantly more than half the group members declare to be better than the median in some characteristic. Overconfidence was found in verbal reports for a variety of characteristics and settings but was less often studied for choice behaviour. In an experiment we tested how perceived relative skill influences verbal and choice behaviour. Treatments varied task difficulty and payment. Choice behaviour changes f…
Intelligence, Personality, and Gains from Cooperation in Repeated Interactions
We study how intelligence and personality affect the outcomes of groups, focusing on repeated interactions that provide the opportunity for profitable cooperation. Our experimental method creates two groups of subjects who have different levels of certain traits, such as higher or lower levels of Intelligence, Conscientiousness, and Agreeableness, but who are very similar otherwise. Intelligence has a large and positive long-run effect on coopera…
Life satisfaction, income and personality
School friendship networks, homophily and multiculturalism
Why Blame
We provide experimental evidence that subjects blame others on the basis of events they are not responsible for. In our experiment an agent chooses between a lottery and a safe asset; payment from the chosen option goes to a principal, who then decides how much to allocate between the agent and a third party. We observe widespread blame: regardless of their choice, agents are blamed by principals for the outcome of the lottery, an event they are …
The association between saving disposition and financial distress
Educational Attainment and Intergenerational Mobility
We extend a standard model of parental investment and intergenerational mobility to include a fully specified genetic analysis of skill transmission. The model’s predictions differ substantially from the standard model’s. The coefficient of intergenerational income elasticity (IGE) may be larger than that in the standard model and depends on the distribution of the genotype. The distribution of genetic endowments may be stratified according to in…
Group payoffs as public signals
Behavioural Economics and its Applications
Proceedings of the Yrjo Jahnsson Foundation 50th Anniversary Conference held on June 22–23, 2004 in Espoo, Finland. Behavioural economics is here to stay, but it is not easy to come up with a definition of exactly what it is. The range of work within economics that might reasonably be called behavioural is very wide. At one end of the spectrum, there are conservative experimenters who defend traditional economic theory by looking at situations in…
Pay Enough or Don't Pay at All
Economists usually assume that monetary incentives improve performance, and psychologists claim that the opposite may happen. We present and discuss a set of experiments designed to test these contrasting claims. We found that the effect of monetary compensation on performance was not monotonic. In the treatments in which money was offered, a larger amount yielded a higher performance. However, offering money did not always produce an improvement…
A Fine is a Price
The deterrence hypothesis predicts that the introduction of a penalty that leaves everything else unchanged will reduce the occurrence of the behavior subject to the fine. We present the result of a field study in a group of day‐care centers that contradicts this prediction. Parents used to arrive late to collect their children, forcing a teacher to stay after closing time. We introduced a monetary fine for late‐coming parents. As a result, the n…
Performance in Competitive Environments
In spite of the fact that equal opportunities for men and women have been a priority in many countries, enormous gender differences prevail in most competitive high-ranking positions. We conduct a series of controlled experiments to investigate whether women might react differently than men to competitive incentive schemes commonly used in job evaluation and promotion. We observe no significant gender difference in mean performance when participa…
Gender and Competition at a Young Age
Gender gaps may be observed in a variety of economic and social environments. One of the possible determining factors is that men are more competitive than women and so, when the competitiveness of the environment increases, the performance of men increases relative to that of women. We test this hypothesis in a field study conducted with 9-year old children, running on a track. They first run alone and then in pairs over a short distance with di…
Overconfident
A group exhibits overconfidence if significantly more than half the group members declare to be better than the median in some characteristic. Overconfidence was found in verbal reports for a variety of characteristics and settings but was less often studied for choice behaviour. In an experiment we tested how perceived relative skill influences verbal and choice behaviour. Treatments varied task difficulty and payment. Choice behaviour changes f…
Individual Behavior and Group Membership
People who are members of a group and identify with it behave differently from people who perceive themselves as isolated individuals. This paper shows that group membership affects preferences over outcomes, and saliency of the group affects the perception of the environment. We manipulate the saliency of group membership by letting a player's own group watch as a passive audience as decisions are made, and/or by making part of the payoff common…
Behavioural Economics and its Applications
Proceedings of the Yrjo Jahnsson Foundation 50th Anniversary Conference held on June 22–23, 2004 in Espoo, Finland. Behavioural economics is here to stay, but it is not easy to come up with a definition of exactly what it is. The range of work within economics that might reasonably be called behavioural is very wide. At one end of the spectrum, there are conservative experimenters who defend traditional economic theory by looking at situations in…
Cognitive skills affect economic preferences, strategic behavior, and job attachment
Economic analysis has so far said little about how an individual's cognitive skills (CS) are related to the individual's economic preferences in different choice domains, such as risk taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee truckers we report three findings. First, there is a strong and significant relationship between an individual's CS and preferences. Individuals wit…
Decision making and equilibria
GWAS of 126,559 Individuals Identifies Genetic Variants Associated with Educational Attainment
Genetic College Many genomic elements in humans are associated with behavior, including educational attainment. In a genome-wide association study including more than 100,000 samples, Rietveld et al. (p. 1467 , published online 30 May; see the Perspective by Flint and Munafò ) looked for genes related to educational attainment in Caucasians. Small genetic effects at three loci appeared to impact educational attainment.
Why Blame
We provide experimental evidence that subjects blame others on the basis of events they are not responsible for. In our experiment an agent chooses between a lottery and a safe asset; payment from the chosen option goes to a principal, who then decides how much to allocate between the agent and a third party. We observe widespread blame: regardless of their choice, agents are blamed by principals for the outcome of the lottery, an event they are …
Life satisfaction, income and personality
Group payoffs as public signals
Genome-wide association study identifies 74 loci associated with educational attainment
Intelligence and Extraversion in the neural evaluation of delayed rewards
Cognitive, Noncognitive, and Family Background Contributions to College Attainment
There is considerable evidence that college attainment is associated with family background and cognitive and noncognitive skills. Behavioral genetic methods are used to determine whether the family background effect is mediated through cognitive and noncognitive skill development. We analyze data from two longitudinal behavioral genetic studies: the Minnesota Twin Family Study, consisting of 1,382 pairs of like‐sex twins and their parents, and t…
Intelligence, Personality, and Gains from Cooperation in Repeated Interactions
We study how intelligence and personality affect the outcomes of groups, focusing on repeated interactions that provide the opportunity for profitable cooperation. Our experimental method creates two groups of subjects who have different levels of certain traits, such as higher or lower levels of Intelligence, Conscientiousness, and Agreeableness, but who are very similar otherwise. Intelligence has a large and positive long-run effect on coopera…
School friendship networks, homophily and multiculturalism
Polygenic prediction of educational attainment within and between families from genome-wide association analyses in 3 million individuals
We conduct a genome-wide association study (GWAS) of educational attainment (EA) in a sample of ~3 million individuals and identify 3,952 approximately uncorrelated genome-wide-significant single-nucleotide polymorphisms (SNPs). A genome-wide polygenic predictor, or polygenic index (PGI), explains 12–16% of EA variance and contributes to risk prediction for ten diseases. Direct effects (i.e., controlling for parental PGIs) explain roughly half th…
Law of demand and stochastic choice
We consider random choice rules that, by satisfying a weak form of Luce’s choice axiom, embody a form probabilistic rationality. We show that for this important class of stochastic choices, the law of demand for normal goods—arguably the main result of traditional consumer theory—continues to hold on average when strictly dominated alternatives are dismissed
Risky decisions are influenced by individual attributes as a function of risk preference
It has long been assumed in economic theory that multi-attribute decisions involving several attributes or dimensions - such as probabilities and amounts of money to be earned during risky choices - are resolved by first combining the attributes of each option to form an overall expected value and then comparing the expected values of the alternative options, using a unique evidence accumulation process. A plausible alternative would be performin…
The association between saving disposition and financial distress
Educational Attainment and Intergenerational Mobility
We extend a standard model of parental investment and intergenerational mobility to include a fully specified genetic analysis of skill transmission. The model’s predictions differ substantially from the standard model’s. The coefficient of intergenerational income elasticity (IGE) may be larger than that in the standard model and depends on the distribution of the genotype. The distribution of genetic endowments may be stratified according to in…
Learning in Interactive Decision-Making
A remarkable feature of human intelligence is the ability to optimize our decisions based on the potential actions of others. This ability, i.e., strategic sophistication, is crucial in strategic interactions, where we need to predict others’ actions (first-order beliefs), anticipate others’ beliefs about our own possible actions (second-order beliefs), and optimize decisions based on such beliefs. While behavioral research has highlighted system…
Economics (17 obras) · Psychology (14 obras) · Decision-Making and Behavioral Economics (13 obras) · Experimental Behavioral Economics Studies (13 obras) · Social Psychology (11 obras) · Political science (10 obras) · Computer Science (8 obras) · Mathematics (7 obras) · Social Psychology (7 obras) · Biology (6 obras)