Behavioral Biases in General Equilibrium: Implications for Wealth Inequality and Human Capital Formation

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dc.contributor.advisorChakraborty, Shankha
dc.contributor.authorNighswander, Tristan
dc.date.accessioned2018-09-06T22:01:57Z
dc.date.available2018-09-06T22:01:57Z
dc.date.issued2018-09-06
dc.description.abstractMy research focuses on the integration of behavioral economics into well understood general equilibrium macroeconomic models populated by overlapping generations of heterogeneous agents. Specifically, I analyze the implications of populating model economies with present-biased agents who are finitely lived, subject to idiosyncratic labor income shocks, and heterogeneous in both exponential and present-biased discount factors. My primary goal is characterizing the contribution of behavioral biases towards resolving several issues in the literature pertaining to human capital investment and aggregate wealth inequality. Further, the inclusion of present bias in carefully calibrated model economies allows me to rationalize empirical differences in consumption, wealth, and education that arise between observationally similar households that models of homogeneous, exponential discounters are unable to match.en_US
dc.identifier.urihttps://hdl.handle.net/1794/23811
dc.language.isoen_US
dc.publisherUniversity of Oregon
dc.rightsAll Rights Reserved.
dc.subjectBehavioral economicsen_US
dc.subjectHuman capitalen_US
dc.subjectInequalityen_US
dc.subjectMacroeconomicsen_US
dc.titleBehavioral Biases in General Equilibrium: Implications for Wealth Inequality and Human Capital Formation
dc.typeElectronic Thesis or Dissertation
thesis.degree.disciplineDepartment of Economics
thesis.degree.grantorUniversity of Oregon
thesis.degree.leveldoctoral
thesis.degree.namePh.D.

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