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An experiment about drugs legalization and the investor behavior

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dc.contributor.advisorBlanco, Mariana
dc.creatorGarcia Rojas, Karen Andrea
dc.creator.degreeMagíster en Economía
dc.date.accessioned2017-07-17T18:09:45Z
dc.date.available2017-07-17T18:09:45Z
dc.date.created2017-07-05
dc.date.issued2017
dc.description.abstractThe 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.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.48713/10336_13538
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/13538
dc.language.isospa
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.publisher.programMaestría en Economíaspa
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dc.rights.ccAtribución-SinDerivadas 2.5 Colombiaspa
dc.rights.licenciaEL AUTOR, manifiesta que la obra objeto de la presente autorización es original y la realizó sin violar o usurpar derechos de autor de terceros, por lo tanto la obra es de exclusiva autoría y tiene la titularidad sobre la misma. PARGRAFO: En caso de presentarse cualquier reclamación o acción por parte de un tercero en cuanto a los derechos de autor sobre la obra en cuestión, EL AUTOR, asumirá toda la responsabilidad, y saldrá en defensa de los derechos aquí autorizados; para todos los efectos la universidad actúa como un tercero de buena fe. EL AUTOR, autoriza a LA UNIVERSIDAD DEL ROSARIO, para que en los términos establecidos en la Ley 23 de 1982, Ley 44 de 1993, Decisión andina 351 de 1993, Decreto 460 de 1995 y demás normas generales sobre la materia, utilice y use la obra objeto de la presente autorización. -------------------------------------- POLITICA DE TRATAMIENTO DE DATOS PERSONALES. Declaro que autorizo previa y de forma informada el tratamiento de mis datos personales por parte de LA UNIVERSIDAD DEL ROSARIO para fines académicos y en aplicación de convenios con terceros o servicios conexos con actividades propias de la academia, con estricto cumplimiento de los principios de ley. Para el correcto ejercicio de mi derecho de habeas data cuento con la cuenta de correo habeasdata@urosario.edu.co, donde previa identificación podré solicitar la consulta, corrección y supresión de mis datos.spa
dc.rights.urihttp://creativecommons.org/licenses/by-nd/2.5/co/
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dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subjectExperimental economicsspa
dc.subjectBehavioral economicsspa
dc.subjectDrug legalizationspa
dc.subjectDrugs supplyspa
dc.subjectIllegal drugsspa
dc.subject.ddcEconomía
dc.subject.lembEconomíaspa
dc.subject.lembNarcóticosspa
dc.subject.lembLegalizaciónspa
dc.subject.lembPolíticas públicasspa
dc.titleAn experiment about drugs legalization and the investor behaviorspa
dc.typemasterThesiseng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaTesis de maestríaspa
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