114, issue 3, 517-537 . Chen, V. Lakshminaryanan, L. SantosHow basic are behavioral biases? @ARTICLE{Chen06howbasic,    author = {M. Keith Chen and Venkat Lakshminarayanan and Laurie R. Santos},    title = {How Basic are Behavioral Biases? 2006 How basic are behavioral biases? Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. �� ���`GG������($X#�[H�b6� ��\@ whitebox advisor, Developed at and hosted by The College of Information Sciences and Technology, © 2007-2019 The Pennsylvania State University, by 0000000891 00000 n Given our capuchins ’ inexperience with trade and gambles, these results suggest that loss-aversion extends beyond humans, and may be innate rather than learned. H�b```�-�\M� cc`a�X �q0@��{�L����5�l`�7�� ���D�>��(�I8g0D480�\X�l�ڠ)�W�z3k)�(�-ws5���xL%`��h�L�+��Ĉ�c�宜"����\�@�6:�^ �TGRy���8�6�]b����V�o�4��*�*��%&:���Iy���u5�TU��K,gM�I�L݃�d�UF��\T��&��&M�n����G�S�X Journal of Political Economy, Vol. Evidence from Capuchin Monkey Trading Behavior},    journal = {Journal of Political Economy},    year = {2006},    pages = {517--537}}, Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. M. Keith Chen, Venkat Lakshminarayanan and Laurie R. Santos, Update/Correction/Removal By M. Keith Chen, Venkat Lakshminarayanan and Laurie R. Santos. Journal of Political Economy, Vol. Request. Related works:This item may be available elsewhere in EconPapers: Search for items with the same title. Box 208205New Haven, CT 06520-8205United States, We use cookies to help provide and enhance our service and tailor content.By continuing, you agree to the use of cookies. We show that capuchins react rationally to both price and wealth shocks, but display several hallmark biases when faced with gambles, including reference-dependence and loss-aversion. 0000005796 00000 n Evidence from capuchin monkey trading behavior. Abstract: Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. Behavioral economics has demonstrated systematic decision‐making biases in both lab and field data. financial support    EconPapers is hosted by the 114, issue 3, 517-537. Questions or problems? The study, titled “How Basic Are Behavioral Biases? Request. Antecedent- and response-focused emotion regulation: Divergent consequences for experience, expression, and physiology. We show that capuchins react rationally to both price and wealth shocks but display several hallmark biases when faced with gambles, including reference dependence and loss aversion. M. Keith Chen 114, 517–537.doi:10.1086/503550. 0000001568 00000 n 0000004221 00000 n Abstract. Time discounting Do these biases extend across contexts, cultures, or even species? Evidence from capuchin-monkey trading behavior’ show that monkeys react rationally to price changes and display biases when faced with gambles, e.g. 0000026730 00000 n several hallmark bias    Do these biases extend across contexts, cultures, or even species? EconPapers Home 517-532 The capuchin monkeys (/ ˈ k æ p j ʊ tʃ ɪ n / or / ˈ k æ p j ʊ ʃ ɪ n /) are New World monkeys of the subfamily Cebinae.They are readily identified as the "organ grinder" monkey, and have been used in many movies and television shows.The range of capuchin monkeys includes some tropical forests in Central America and South America as far south as northern Argentina. 3. 0000006401 00000 n We show that capuchins react rationally to both price and wealth shocks but display several hallmark biases when faced with gambles, including reference dependence and loss aversion.