O ISEG organiza uma nova sessão dos Seminários de Research a 7 de maio, entre as 13h00 e as 14h00, no Anfiteatro 3 (Edifício Quelhas, Piso 4).
O seminário terá como speaker o Professor Marco Fongoni, da Aix-Marseille School of Economics, que apresentará o paper “Aspirations as Reference Points”, cujo abstract pode ser consultado mais abaixo.
Os seminários de Research do 2º Semestre decorrerão semanalmente até 4 de junho e contarão com a participação de docentes do ISEG e de outras escolas nacionais e internacionais. Saiba mais AQUI.
Entrada livre, limitada à capacidade da sala.
Abstract
We develop a model of individual effort choice towards the achievement of an outcome, where the individual compares realised outcomes in relation to an aspiration reference point. We provide sufficient conditions for the dual nature of aspirations: moderate aspirations can motivate, but excessively high aspirations can discourage; and for the existence of states in which aspirations are fulfilled. We then study how this non-monotonic relationship between aspirations and effort interact in a dynamic environment when aspirations are endogenous to the individual’s realised outcomes in the past. We show how behavioural traits such as aversion to failure and perseverance can crucially affect an individual’s achievements along the equilibrium path, providing a novel perspective on the dual effect of aspirations on economic behaviour: holding excessively high aspirations can be frustrating, but can also lead to generating strictly better outcomes when individuals particularly dislike failure and are perseverant in the pursuit of their goals.