This paper contributes to the widespread discussion of the sources of the divergence between WTA and WTP values. The paper reports on theoretical and empirical investigations which show that value and outcome uncertainty offer an explanation for this disparity. Given a set of hypotheses...

Most studies of homework effectiveness relate time spent on homework to test performance, and find a nonmonotonic relationship. A theoretical model shows that this can occur even when additional homework helps all students because of the way in which variables are defined. However, some students...