Do non-choice data reveal economic preferences? : Evidence from biometric data and compensation-scheme choice

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http://hdl.handle.net/10138/334270

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Halko , M-L , Lappalainen , O & Sääksvuori , L 2021 , ' Do non-choice data reveal economic preferences? Evidence from biometric data and compensation-scheme choice ' , Journal of Economic Behavior and Organization , vol. 188 , pp. 87-104 . https://doi.org/10.1016/j.jebo.2021.04.009

Title: Do non-choice data reveal economic preferences? : Evidence from biometric data and compensation-scheme choice
Author: Halko, Marja-Liisa; Lappalainen, Olli; Sääksvuori, Lauri
Contributor: University of Helsinki, Helsinki Hub on Emotions, Populism and Polarisation
University of Helsinki, University of Tampere
Date: 2021-08
Language: eng
Number of pages: 18
Belongs to series: Journal of Economic Behavior and Organization
ISSN: 0167-2681
URI: http://hdl.handle.net/10138/334270
Abstract: We investigate the feasibility of inferring economic choices from simple biometric non-choice data. We employ a machine learning approach to assess whether biometric data acquired during sleep, naturally occurring daily chores and participation in an experi-ment can reveal preferences for competitive and team-based compensation schemes. We find that biometric data acquired using wearable devices enable equally accurate out-of-sample prediction for compensation-scheme choice as gender and performance. Our re-sults demonstrate the feasibility of inferring economic choices from simple biometric data without observing past decisions. However, we find that biometric data recorded in nat-urally occurring environments during daily chores and sleep add little value to out-of-sample predictions. (c) 2021 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license ( http://creativecommons.org/licenses/by/4.0/ )
Subject: Compensation schemes
Competition
Team
Experiment
Gender
Heart rate variability
Non-choice data
HEART-RATE-VARIABILITY
RISK
STRESS
MODELS
NEUROECONOMICS
COOPERATION
MORTALITY
SELECTION
WOMEN
SHIFT
512 Business and Management
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