This article examines the time-series properties of the US venture capital investments (VCI) to determine whether or not various sectors compete in the same market for venture capital funds. Using a battery of unit root tests, we find substantial evidence that VCI shares are nonstationary. Our...

We use experimental methods to study how individuals solve life cycle 'precautionary savings' tasks. Some results resemble previous experimental work on dynamic optimisation tasks. Within our experiment, however, opportunities exist for subjects to learn from one another. Subjects participated...

Probabilistic choices or 'choice errors' may play in important supporting role in shaping observed risky choices, and a variety of restrictions on such choice probabilities play the role of identifying restrictions in empirical decision research. The authors test six restrictions in the context...