Charles Noussair

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A demand for behavioral norms arises when members of a group have individual incentives to take actions that reduce the group's overall welfare (James S. Coleman, 1990). Norms require enforcement with a system of sanctions that penalize deviations from acceptable behavior (George C. Homans, 1961). Formal sanctions include fines or restrictions implemented(More)
It is well-known that social influences affect consumption decisions. We used functional magnetic resonance imaging (fMRI) to elucidate the neural mechanisms associated with social influence with regard to a common consumer good: music. Our study population was adolescents, age 12-17. Music is a common purchase in this age group, and it is widely believed(More)
History contains many colorful examples where speculative trade in some commodity or financial asset generated a phase of rapidly increasing prices, followed by a sudden collapse (see, e.g., Edward Chancellor, 1999, or Charles Kindleberger, 2001). One famous case cited by many economists (see Peter Garber, 2000, pp. 127–31, for references) is the Dutch(More)
One lingering puzzle is why voluntary contribu tions to public goods decline over time in experimental and real-w orld settings. We show that the decl ine of cooperation is driven by individual preferences for im perfect conditional cooperation. Many people’s desire to contribute less than oth ers, rather than changing beliefs of what others will contr(More)
When payo s from di erent actions are unknown, agents use their own past experience as well as the experience of their neighbors to guide their current decision making. This paper develops a general framework to study the relationship between the structure of information ows and the process of social learning. We show that in a connected society, local(More)
BACKGROUND Financial advice from experts is commonly sought during times of uncertainty. While the field of neuroeconomics has made considerable progress in understanding the neurobiological basis of risky decision-making, the neural mechanisms through which external information, such as advice, is integrated during decision-making are poorly understood. In(More)
We study the effect of allowing short selling on the efficiency of the pricing mechanism and the incidence of price bubbles in laboratory asset markets. We report an experiment that illustrates that allowing a sufficiently large short selling capacity results in a substantial reduction in the magnitude and duration of bubbles, but also leads to sustained(More)
This chapter surveys laboratory experiments addressing macroeconomic phenomena. The first part focuses on experimental tests of the micro-foundations of macroeconomic models discussing laboratory studies of intertemporal consumption/savings decisions, time (in)consistency of preferences and rational expectations. Part two explores coordination problems of(More)