Behavioral and Experimental Economics Seminar (Session 4)
[Time] November 5, 2018 (Monday) 12:00-13:30 [Location] Room 734, Main Building, Mingde [Theme] The Psychology and Economics of a Superstition [President]Joshua Miller (Assistant Professor at the University of Alicante (Spain)) [Moderator] Lu Fangwen (Professor, School of Economics, Renmin University of China) [Reviewer] Dai Zhixin (Assistant Professor, School of Finance and Finance, Renmin University of China) [Language] English [Abstract] We design two field experiments and a laboratory experiment in order to determine if people are willing to incur a cost (qualitative and quantitative) to behave in accordance with their superstitious beliefs. We explore potential mechanisms. [Introduction to the lecturer] Joshua Miller is an economist at the University of Alicante (Spain). He received his PhD in Economics from the University of Minnesota. He works primarily in the areas of behavioral and experimental economics. His current research interests focus on information He has published papers in top journals such as Econometrica, Journal of Political Economy, and Management Science.
Behavioral and Experimental Economics Seminar (Session 3)
[Time] November 1st, 2018 (Thursday) 12:30-14:00 [Location] Room 734, Main Building, Mingde [Topic] The role of incentive in promoting cooperation [President] Zhang Boyu (Associate Professor, School of Mathematical Sciences, Beijing Normal University) [Moderator] Lu Fangwen (Professor, School of Economics, Renmin University of China) [Reviewer] Wang Xianghong (Professor, School of Economics, Renmin University of China) [Abstract] Sustaining cooperation in social dilemmas has been a longstanding and fundamental topic in both the social and biological sciences. In human society, this problem can be solved by establishing incentive mechanisms that reward cooperators and punish free-riders. In this presentation, the role of incentive in promoting cooperation is discussed from both theoretical and experimental perspectives.
[Introduction to the keynote] Zhang Boyu, Beijing Normal University, associate professor of mathematics, doctoral tutor. In 2006, he obtained a bachelor’s degree from the School of Mathematical Sciences of Beijing Normal University. In 2009, he obtained a master’s degree from the School of Mathematical Sciences of Beijing Normal University. In 2012, he obtained his Ph.D. degree from the Department of Mathematics of the University of Vienna, Austria. He then entered the School of Mathematical Sciences of Beijing Normal University, 2015. Promoted to associate professor. His main research interests include evolutionary games and behavioral economics. He has published more than 30 papers in internationally renowned academic journals such as PNAS, Operations Research, Games and Economic Behaviour. He has presided over 4 projects including the National Natural Science Foundation of China.
Behavioral and Experimental Economics Seminar (Session 2)
[Time] September 11th, 2018 (Tuesday) 12:00-13:30 [Location] Room 734, Mingde Main Building, [Topic] Asset Allocation and Price Bubble: An Experimental Economics Study [President] Wei Lijia (Professor, School of Economics and Management, Wuhan University) [Moderator] Lu Fangwen (Professor, School of Economics, Renmin University of China)
[Abstract] This paper uses the method of experimental economics to explore the bubble problem of physical assets. In the experimental setting of this paper, participants need to repeat the purchase of physical assets and make production decisions. The basic value of physical assets remains unchanged during the experiment. Experiments designed with reference to Holt et al (2017) paper on the risk of asset price bubbles and Holt and Shobe (2016) paper on carbon emissions markets. Our innovations in previous papers are: (1) constructing the setting of constant or tight asset supply; (2) constructing the setting of the basic value of assets; (3) physical assets and financial assets constructed in experimental design. There are different attributes. We find that when the supply of physical assets is constant, the price will generate a bubble, but the bubble will soon burst; when the supply of physical assets is gradually reduced, the participants cannot rationally use the intertemporal smoothing, and the asset price is slow. Rise to a skyrocketing phenomenon. Based on the expected data of participants’ price collection in the experiment, this paper finds that the difference between expected and actual prices drives the rise and fall of asset prices. The paper also finds that if the participants are allowed to borrow the physical assets over time, it will help to stabilize the price bubble of the assets.
[Introduction to the keynote speaker] Lijia Wei is a professor at the School of Economics and Management of Wuhan University, director of the Department of Mathematical Economics and Mathematical Finance, and a professor of young scholars and leading talents. He is also a special expert in the Guangdong Provincial Public Resource Trading Advisory Committee. His research interests are behavioral and experimental economics, and applied econometrics. The papers are published in international SSCI academic journals such as Marketing Science, Econometric Theory, Journal of Regional Science, Economic Modeling, and Pacific Economic Review, as well as “Economics (Quarterly)”, “China Industrial Economy”, “System Engineering Theory and Practice”, etc. Authoritative academic journal. He has presided over several scientific research projects such as the National Natural Science Foundation and the Humanities and Social Sciences Project of the Ministry of Education.
Behavioral and Experimental Economics Seminar（Session 1）
[Time] September 7th, 2018 (Friday) 11:30-14:00
[Location] Room 734, Main Building, Mingde
[Topic] Roundtable Discussion on “China’s Development of Behavior and Experimental Economics”
[Moderator] Wang Xianghong (Professor, School of Economics, Renmin University of China)
[Participants] Wang Yazhen, He Haoran, Zhang Boyu, Gao Yu, Lu Fangwen, Sun Wenkai, Dai Zhixin, Weng Qian.
[Seminar Content] This seminar will review the development of behavioral and experimental economics in China since the reform and opening up, summarize the research, teaching results, current status and experience, and exchange current issues and research topics in research and economics. Issues that combine current economic issues with the discussion of intra-college, inter-school and international forms of cooperation, including research, teaching and forums, to further promote the development of behavioral and experimental economics at home and internationally.
On Sep 7, the Behavioral and Experimental Economics seminar was held in the School of Economics, Renmin University of China as the form of Round Table. Prof. Wang Xianghong from School of Economics hosted this seminar. Lu Fangwen from School of Economics, Dai Zhixin from the School of Finance, Weng Qian from the School of Labor and Human Resourses, He Haoran and Zhang Boyu from Beijing Normal University, Wang Yacan from Beijing Jiaotong University and Gao Yu from Peking University attended this seminar.
Prof. Wang Xianghong and participants firstly looked back on the development of Behavioral and Experimental Economics in China since the reform and opening-up, and then summarized the achievements and experience in teaching and research. In addition, they discussed the hotspot issues and new research methods about Behavioral and Experimental Economics and investigated how to study relevant issues in China. What’s more, they put forward a variety of suggestions to further promote cooperation in Behavioral and Experimental Economics intra schools, inter schools and internationally.
This seminar was firstly held in the School of Economics. We will continue to hold more seminars in future. For details, please pay attention to website, posters and mails. We look forward to your participation and hope to work together to promote the development of Behavioral and Experimental Economics.