Los Angeles Behavioral Economics Laboratory

Check out our newest report here: https://drive.google.com/file/d/1DjFSL9w37Q_9zNzjll2APQnmHqQR_rI_/view

Many differences in life outcomes first appear in early childhood, where lower SES children's worse nutrition and mental stimulation often see them lag behind peers before even setting foot in a school. This report analyzes the academic literature about three programs - the Abecedarian Project, the Jamaican Study, and Reach Up - that all provide interventions aimed at reducing these early differences. We find that interventions in early childhood lead to lifelong benefits in academic performance, employment outcomes, and risk attitudes, and that these effects are robust between settings and cultures.

What personality traits lead someone to cheat academically using ChatGPT?

A study from Greitemeyer and Kastenmuller (2023) finds that students who self-reported a willingness to cheat showed higher levels of the 'Dark Triad' personality traits (Machiavellianism, narcissism, and psychopathy) and lower levels of Conscientiousness and Openness to Experience.

Does this align with your experience?

Link here: https://www.sciencedirect.com/science/article/pii/S2405844023071177

Are you a USC student looking to make some money this coming semester?

LABEL runs experiments throughout the school year and pays participants for their time! Play games with others or solve puzzles to help us unravel the mysteries of decision-making!

SIGN UP HERE: https://label-usc.lab.run/

Hope everyone had a great summer!

We're gearing up for the new semester here at LABEL and today we're previewing an upcoming report we have lined up!

A source that's an oldie but goodie, Gertler et al. (2014)'s paper about the effects of early childhood interventions shows psychosocial stimulation at young ages has positive effects on labor earnings in adulthood!

Wondering if there are more interventions like this? We'll tell you more soon!

Labor market returns to an early childhood stimulation intervention in Jamaica (2014) - The Heckman Equation Published in the journal Science on May 30, 2014, a study by Professor Heckman, UC Berkeley economist Paul Gertler, and fellow researchers at the University of Chicago, the University of the West Indies, the World Bank and the University of London finds that a high-quality early childhood interventi...

Oh, the places you'll go!

Learn where our USC Students are headed in the fall below.

Congrats to Yao, Jerry, James, and Yifu!

You may have hard of grit before, but what is it exactly? Our newest LABEL Report can help answer this question.

Grit is defined as passion and perseverance toward long-term goals. Initially popularized by Angela Duckworth, grit has been found to be critical in various contexts spanning education, sports, business, and personal development. In this report, we examine how grit is measured and how it is influenced by genetics and the environment. We also address its impact on academic achievement and everyday life. We discuss practical applications and interventions to enhance grit, aiming to improve life outcomes.

Grit.pdf

Introducing our newest lab member, Leo Susser! Leo is a high schooler from San Francisco with a passion in behavioral economics and applying it to create positive solutions to life’s problems. He has worked with Professor Joan Costa-Font at LSE, created the first High School Nudgeathon, founded Growing with Financial Literacy, helps special education students, and plays varsity tennis and competitive bridge.

Leo will work in partnership with us to produce videos about social sciences for highschoolers to learn about the field on topics relevant to them.

Welcome to LABEL, Leo!

Check out the latest Game Changer episode on the intersection of developmental psychology & economic theory through children's strategic decision-making. Isabelle Brocas shares insights from her long-term studies with kids from kinder to young adulthood!


Link: https://lnkd.in/dp5cyiz

Excited to share our latest report "Rediscovering Economic Models through Physicist's Methods"! Learn how econophysics uses physics to analyze economic phenomena and financial markets.

Link: https://drive.google.com/file/d/1WyheretvJldOEU5DlipsXld-RiDrn5dX/view

Researchers from the University of York find that preschoolers actively shape their own development by choosing activities that align with their genetic tendencies; highlighting the dynamic interplay between genetics and environment in early childhood.

Link: https://neurosciencenews.com/neurodevelopment-genetics-environment-26051/

Excited to welcome Haoran He to our lab! Haoran is a first year of the MS AEE program at the University of Southern California . He'll be investigating screen time and its effect on teens. Looking forward to the great insights from his project!

Excited to welcome Siyuan Zhou to our lab! Siyuan is a student of the MS AEE program at the University of Southern California. This semester, she'll be investigating the gender gap in competitiveness. Looking forward to great insights from their project!

New study by Soutschek et al. (2024) found that activity in the brain's reward regions was vital for tracking both personal & others people's preferences & played a key role in making decisions in an attempt to maximize welfare for all.

Link: https://neurosciencenews.com/mutual-benefit-decisions-neuroscience-25932/

Welcoming to the lab, James! He is finishing up his first year at the University of Southern California! He is interested in learning about the methodology in experimental economics and understanding the neural correlates of risk preferences.

A fantastic seminar by Leandro Carvalho where he discussed how one generation’s genetics causally impacts the next generation’s economic prospects. Great insights from the field of genoeconomics!

Show me the money!
When we run studies in schools, we need to bring a stash of cash to convince the kids that we will pay them. Experimentalist is a dangerous job!

Exciting Insights! New study sheds light on the decision-making process of children in games with hidden information. Findings reveal a fascinating link between emotional intelligence & strategic prowess. Huge shout out to members at Loyola Behavioral Lab!

Link:https://isabellebrocas.org/Research/compromise.pdf

Welcoming to the lab, Kan! He is a student of the MS AEE program at the University of Southern California! His research interests include the effect of nutrition on cognition and development!

Getting ready for our next experiment on networks with high schoolers. Thanks to our USC students for helping us piloting!

Diving into the fascinating world of decision-making! Thank you, Colin Camerer
for presenting "Predictable Effects of Visual Salience in Experimental Decisions, Games, & Markets." A thought-provoking session that sheds light on how our visual cues shape our choices.

Dr. Brocas discusses how time preferences develop and how we can help children become more patient in her most recent Psychology Today article. Check it out here:

https://www.psychologytoday.com/us/blog/biology-development-and-behavior/202402/the-development-of-time-preferences-in-children

The Development of Time Preferences in Children What determines how patient we are?

Researchers at Washington University in St. Louis uncover the role of the lateral habenula in decision-making. Findings reveal how human and monkey brains value information about the future. Check it out: https://lnkd.in/g-UCTAqg

Running our yearly experiment at the Lycée International of Los Angeles with middle and high schoolers! This year we explore a social choice problem: how to allocate resources among people with different preferences?

This week's Behavioral Theories of Decision-Making class discussed inter- and intra- personal
conflicts within individuals, Random Utility Models, and neural correlates of value-based decision-making!

Thrilled to host Payam Piray who discussed the complexities of learning under uncertainty. He focused on the dissociation of distinct noise types with opposing effects on learning. Check out his computational model & findings at:

Model: https://www.nature.com/articles/s41467-021-26731-9

Website: https://www.piraylab.com/

In partnership with LABEL: the Major in Behavioral Economics & Psychology (BEEP) and the Minor in Behavioral Economics are designed to empower you to navigate and mold the economic landscapes of tomorrow.

Gain the insights to predict and influence economic behavior, understand its impact on personal and market outcomes, and discover how external influences like environment, marketing, and strategic interventions can shape actions.

For more information, visit

http://label-laboratory.org/undergraduate-program-in-behavioral-economics/

Huge pleasure to have Dr. Marina Agranov present her research titled "Disentangling Suboptimal Updating: Complexity, Structure, and Sequencing" at yesterday's LABEL Seminar!

Link:https://agranov.caltech.edu/documents/27013/DSU_qje.pdf

The achievement gap is a complex problem with a multitude of social factors that contribute to the issue. Check out our latest report that explores the topic more in depth by looking at factors within schools & communities!

Link: https://drive.google.com/file/d/1Qzhp9nZv59n7BcoKwtD6fSIsmDG9ZxrS/view

This week's Behavioral Theories of Decision-making class discussed time-preferences, discounting and interesting applications of these topics to public policy!

Sophia Hurtado, is a standout researcher from IE University, Madrid! 🌟 Excelling in LABEL's remote training program, she is interested in the intricacies of intoxication & addiction policies, shedding light on the impact of nudges in public policy!