Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...

The approach to water management worldwide is currently in transition, with a shift evident from purely centralised infrastructure to greater consideration of decentralised technologies, such as rainwater harvesting (RWH). Initiated by recognition of drivers including increasing water demand and...

Effective integrated water management is a key component of the World Water Vision and the way in which aspirations for water equity may be realized. Part of the vision includes the promotion of sustainability of water systems and full accountability for their interaction with other urban...

This paper investigates disclosure by testing if the game theoretic predictions of unravelling theory are borne out in a heretofore unstudied market. We analyse TripAdvisor disclosures from hoteliers across 22 locations (N = 4357). Contrary to theoretical predictions, we find that disclosure...

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 consider strategic disclosure and test the unravelling principle in a new market by analysing TripAdvisor admissions made by hoteliers regionally and internationally. We construct a unique dataset and verify disclosures for 4,357 hotels across 22 locations. The major finding is that a...

The transitivity axiom is common to nearly all descriptive and normative utility theories of choice under risk. Recent experiments claim to show observed intransitive preference cycles are no more than noise. We take issue with this consensus position and its normative defence of transitivity....

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...

This paper investigates disclosure by testing if the game theoretic predictions of unravelling theory are borne out in a heretofore unstudied market. We analyse TripAdvisor disclosures from hoteliers across 22 locations (N = 4357). Contrary to theoretical predictions, we find that disclosure...