Why we need behavioural economics

‘It took decades for behavioural economics to break into the mainstream. Now, after just a few years of “bias”, “anchoring” and “nudge”, some critics are already questioning whether it has anything left to offer.’ Chris Starmer, Director of NIBS and CeDEX discusses why we need behavioural economics in ‘The Conversation‘ (published online 28 July 2014)

How do risk attitudes affect measured confidence?

A Working Paper from the University of Nottingham’s Centre for Decision Research and Experimental Economics (CeDEx) explores how risk attitudes affect measured confidence – paper reference 2014-05. Authors Zahra Murad, Martin Sefton and Chris Starmer examine confidence in own absolute performance using two elicitation procedures: self-reported (non-incentivised) confidence and an incentivised procedure that elicits the certainty equivalent of a bet based on …