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  • Economic Theory and Computational Economics (ETACE)

    Prof. Dr. Herbert Dawid

    © Universität Bielefeld

Welcome at ETACE - Chair for Economic Theory and Computational Economics

          

Postal Address:
Universität Bielefeld
Fakultät für Wirtschaftswissenschaften
Universitätsstr. 25
D-33615 Bielefeld

Contact:
Tel.: +49 521 106-6931
E-mail: etace(et)uni-bielefeld.de

 

Latest News

Keynote Presentations

16.01.2024

Herbert Dawid has given two keynote talks at the Graz Schumpeter Winter School on Agent Based Economics the first on "Agent-based analysis of the effect of algorithmic decision making in markets" and the second on "Digital Product Innovation and Global Value Chains: an Agent-Based Analysis".


Appointment

16.01.2024

Long-time ETACE member Philipp Harting has been appointed as full professor for "Economics of Innovation and Artificial Intelligence" at the University of Cote d'Azur in Nice. Congratulations!


Conference Presentation

30.10.2023

Herbert Dawid has given an invited talk on "Deep Q-learning of Wage Offers on Online Labor Platforms: The Effect of Algorithm Design" at the Workshop CeNDEF@25 in Amsterdam celebrating the 25th anniversary of the Center for Nonlinear Dynamics in Economics and Finance at the University of Amsterdam



Work meaning is an important driver of labor supply. Since, per definition, work meaning is associated with benefits for others, it also has an important fairness dimension. In a theoretical model, we show that work meaning may increase or decrease workers’ reservation wages, depending on the relative strength of fairness concerns and meaning preferences. To examine the importance of these behavioral motives for labor supply, we conduct a survey experiment with representative samples from the Netherlands and Germany in which we vary within-subject the benefits that a job creates for others. We find that work meaning on average decreases reservation wages, but that only a minority of workers is actually willing to sacrifice wages for work meaning. Fairness concerns are negatively related to willingness to pay for work meaning, while social preferences (like altruism) show a positive association. Workers with a high willingness to pay for work meaning tend to sort into sectors with high perceived societal contributions.
 


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