Does culture matter in economic behavior? Ultimatum game bargaining among the Machiguenga of the Peruvian Amazon

Article Abstract:

Cultural differences have a major effect on decision making as shown in this study of decision making in the Machiguenga of the Peruvian Amazon and a control group in Los Angeles, CA.

Peru, Statistical Data Included, Testing, Game theory

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Emotions in economic theory and economic behavior

Article Abstract:

Economists who have studied emotions have tended to focus on anticipated emotions, whereas psychologists have looked more at immediate emotions and how they affect decisions. Economists could also usefully examined immediate emotions.

Economic aspects, Emotions

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In search of homo economicus: behavioral experiments in 15 smale-scale societies

Article Abstract:

A study of 15 societies around the world shows that the rational expectation model of economic behavior does not function in the real world. The rational expectation model expects humans to act in their own self interest, but this research shows that culture and society influence experimental results.

World, Economists, Social aspects, Models, Econometrics, Economic research, Social economics, Socioeconomics

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