Maestría en Economía

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https://repository.urosario.edu.co/handle/10336/835

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Examinando Maestría en Economía por Director "Blanco, Mariana"

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    An experiment about drugs legalization and the investor behavior
    (2017-07-05) Garcia Rojas, Karen Andrea; Blanco, Mariana
    The illegal drugs market is one of the main issues in the political agenda in Colombia. Literature has focused on legalization in consumption (demand) but studies about legalization of production (supply) are scarce. Taking into account that Colombia is a country leading in drugs production but not drugs consumption in the world, it is relevant to understand illegal drugs supply. The elements that influence decisions about drugs production and the investor behavior under certain incentives have received few attention. In order to analyze the behavioral structure of investment decisions, this paper conducts a laboratory experiment. The aim is to analyze the effect of three different factors influencing the individual decision to invest when a business is related to (i) a criminal activity (illegal), (ii) drugs, or (iii) a negative social effect (negative externality) using a between subjects design. The experiment has two parts. Part I is a replication of the “Ten Paired Lottery-Choice Decisions” by Holt and Laury (2002) to measure individual's risk aversion level. Part II keeps the same structure but shows a frame that varies three elements along treatments: type of business (drugs-related or neutral), legal status (illegal or legal) and the presence of a negative externality. The experiment was applied on 141 undergraduate students of the Universidad del Rosario. Results show a robust gender effect meaning that women are more risk averse than men and they are more prone to increase their risk aversion level in Part II while they revealed more conservative attitudes in front of drugs policies in the post experiment survey. No evidence was found of any effects of illegality and the negative externality on investment decisions. Descriptive comparisons suggest an unwillingness to invest in a drugs-related business. These results suggest that neither illegality nor the existence of a negative externality are efficient elements to discourage investment.
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    Honesty and social norms disparities in formal and informal workers: An experimental approach
    (2023-05-26) Zambrano Camargo, Yaritza Alexandra; Blanco, Mariana
    La informalidad ha sido vista como una solución temporal al desempleo, pero plantea desafíos importantes para el gobierno debido a su impacto negativo en la recaudación de impuestos y los indicadores de bienestar. No es solo un problema a corto plazo, ya que se espera que estas personas eventualmente cambien a un trabajo formal, pero ¿Qué pasa si eso no sucede? ¿Es la informalidad más que una válvula de escape una decisión óptima frente a la evasión? ¿Qué papel juegan las normas sociales en esta decisión? En este estudio revisamos con un enfoque experimental si existe una relación entre informalidad y deshonestidad desde la perspectiva de las normas sociales. La evidencia muestra que en el margen intensivo, normas sociales y cívicas más estrictas explican significativamente los comportamientos deshonestos de estos trabajadores. Por otro lado, ellos racionalizan sus prácticas desleales con las acciones que perciben de otros, lo que significa que construir normas sociales y cívicas estrictas en un contexto de comportamiento ilícito alienta a los individuos comportarse alineado con sus creencias.
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    Overconfidence and Contracts : An Experiment
    (2018-08-09) Gómez Vásquez, Daniel Camilo; Kayi, Cagatay; Blanco, Mariana
    We study whether overconfidence affects the choice over contracts in a real-effort task by using three different measures of overconfidence: miscalibration, illusion of control, and overplacement. We find that overplacement, which is the only measure related to the task, has a significant effect on the choice over contracts. Our design also allows us to observe overconfidence measures at different moments of time. We find that more (less) overconfident subjects remain as more less) overconfident over time.