"Applying experimental methods has become one of the most powerful and versatile ways to obtain economic insights, and experimental economics has especially supported the development of behavioral economics. The Art of Experimental Economics identifies and reviews twenty of the most important...

"Applying experimental methods has become one of the most powerful and versatile ways to obtain economic insights, and experimental economics has especially supported the development of behavioral economics. The Art of Experimental Economics identifies and reviews twenty of the most important...

Cognitive scarcity is a fundamental economic fact, but the standard maximization assumption abstracts from this fact. Much of behavioral economics can be framed as "exploring the maximization assumption." By applying the tools of behavioral economics to explore this important assumption, we can...

By introducing costly centralized exchange into a traditional search theoretic decentralized market, where money can mediate trade, we show private money can arise endogenously because it is profitable for the centralized intermediary to satisfy the demand for money that will naturally arise....