Fall 2018 | Volume 16
BRITE Lab News Blast
A weekly publication from the UW-Madison BRITE Lab
Announcements, Reminders, & Upcoming Events

  • Welcome back! Welcome to the 2018-2019 academic year and a new set of weekly BRITE Lab news blasts. We fell off the routine of sending out the blasts at the end of the spring semester, but hope to have regular emails throughout this year. If you or someone you know would like to be added to the BRITE email list, please send an email to Felix Zhan.
  • Thanks to Kathryn. We are happy to announce that, after a number of years as our reliable and wonderful lab manager, Kathryn Carroll has joined the University of Central Arkansas as an assistant professor of family and consumer sciences. Please join me in wishing Kathryn success as she starts this next chapter in her career! 
  • Welcome to our new Lab Manager, Felix Zhan. We also want to welcome Felix Zhan as the new full-time lab manager for the 2018-2019 academic year. Felix is a PhD student in Consumer Science in the School of Human Ecology and has lots of experience in the BRITE Lab, including working with Kathryn last spring. Please reach out to Felix (fzhan@wisc.edu) for help scheduling sessions or other questions related to the lab.
  • New procedure for BRITE Lab small grants this year. We once again have funding for BRITE Lab small grants this year, but have some small changes to the application procedure. This year we will have an open rolling application procedure without specific application deadlines. The goal is to help people better match funding requests to times when they are ready to actually run studies, and to allow faster turn-around times by having a smaller number of grants to review at a time. We encourage those who are interested in BRITE Lab small grants to first contact BRITE Director Justin Sydnor (justin.sydnor@wisc.edu) with a short description of the study you have in mind. Justin will then (likely) suggest a short meeting to discuss together so that he can give some initial feedback prior to the formal small-grant submission. Justin is happy to discuss preliminary ideas and he especially encourages graduate students or those newer to behavioral/experimental research to reach out at early stages of their study planning and conceptualization. You can find the full RFP for BRITE Lab small grants for the 2018-2019 here.

  • Contact Felix to book time in the lab or indicate an intention to book. We already have a number of studies scheduled to run during Fall 2018. Although we still have a good amount of room, we encourage you to reach out to Felix if you have any intention of running lab sessions during Fall 2018 because the schedule had filled up quickly over the past year. Even if you are not yet ready to finalize session times, it will help us plan if we know that you might be requesting times later in the semester.  

  • Send interesting things to Justin and/or Felix. If you see any papers, conferences, graduate student workshops, resources, etc... that might be of interest to the broader BRITE Lab community, please send along the info to Justin and Felix. 

We will use this space each week in the news blast for Justin to share new ideas he thinks may be of interest for our behavioral & experimental community. If you ever have ideas for topics, please share your ideas with Justin .

This Week's BRITE Idea:

A new academic year brings a new installment of the BRITE Ideas part of the news blast. This week Justin wants to highlight an interesting study by Chapman, Dean, Ortoleva, Snowberg, and Camerer that came out this summer. 

The paper looks at willingness to pay (WTP) and willingness to accept (WTA) gaps. The common finding is that WTP is less than WTA, which is the classic "endowment effect". However, in this paper the authors establish a new pattern -- namely that WTP and WTA for the same individual evaluating the same financial lottery not only have this gap but also show very low correlation with each other. So in some sense it appears the two measures are simply capturing distinct and different things about attitudes toward risk. 

The authors argue that theories of reference dependence could help rationalize this low correlation, but that it takes some pretty unique parameterizations of reference-dependent models to do so. Ultimately they argue that there is a need for "more theories and empirical studies of the process of buying and selling" to better understand why these measures show such low correlation.  
Interested in booking research time in the Lab?
View available time on our Lab Calendar;
email requests to the Lab Manager, Felix Zhan

Volume 16 | September 7, 2018