Quispe-Torreblanca, Edika G. (2018) Essays on individual decision making in the field. PhD thesis, University of Warwick.

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Abstract

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.

Item Type:	Thesis or Dissertation (PhD)
Subjects:	B Philosophy. Psychology. Religion > BF Psychology
Library of Congress Subject Headings (LCSH):	Police misconduct, Police corruption, Police -- Attitudes, Credit cards, Selectivity (Psychology)
Official Date:	September 2018
Dates:	Date Event September 2018 UNSPECIFIED
Institution:	University of Warwick
Theses Department:	Department of Psychology
Thesis Type:	PhD
Publication Status:	Unpublished
Supervisor(s)/Advisor:	Stewart, Neil, 1974- ; Gathergood, John
Sponsors:	Economic and Social Research Council (Great Britain)
Format of File:	pdf
Extent:	xv, 197 leaves : charts
Language:	eng

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