Previous literature and conventional wisdom have led researchers to believe that boredom increases economic risk taking, but the evidence in support of this conclusion is limited and has important shortcomings. In four experiments (including more than 1,300 participants), we systematically...

We build a satisficing model of probabilistic choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences...

We present a lab-field experiment designed to assess systematically the external validity of social preferences elicited in a variety of experimental games. We do this by comparing behavior in the different games with a number of behaviors elicited in the field and with self-reported behaviors...