Hobo Economicus

A-Tier
Journal: Economic Journal
Year: 2022
Volume: 132
Issue: 646
Pages: 2325-2338

Authors (3)

Peter T Leeson (George Mason University) R August Hardy (not in RePEc) Paola A Suarez (not in RePEc)

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The central implication of maximising behaviour amid competition is that rates of return tend toward equality. We test that implication in a market whose participants have the traits that behavioural economics suggests should make it hardest to find evidence of maximisation: the market for panhandling at Metrorail stations in Washington, District of Columbia. We find that stations with more panhandling opportunities attract more panhandlers and that cross-station differences in hourly panhandling receipts are statistically indistinguishable from zero. Panhandling rates of return thus tend toward equality. Extreme ‘behavioural’ traits do not prevent maximisation in this market.

Technical Details

RePEc Handle
repec:oup:econjl:v:132:y:2022:i:646:p:2325-2338.
Journal Field
General
Author Count
3
Added to Database
2026-01-25