Using data from an experiment conducted in 70 Colombian communities, we investigate who pools risk with whom when trust is crucial for enforcing risk pooling arrangements. We explore the roles played by risk attitudes and social networks. Both empirically and theoretically, we find that close...

We design a real-time, intercultural common pool resource experiment using participants from cultures that derive different benefits from a global public good (extraction vs. conservation of biodiversity resources) to analyze the effect of group affiliation on cooperative behavior. We also...

A common conjecture in both the theoretical and policy literatures on development is that people remain poor because they are too impatient and risk averse to accumulate the resources needed to improve their well-being. The empirical literature, however, suggests that this conjecture is far from...

Explanations of poverty, growth and development depend on the assumptions made about individual preferences and the willingness to engage in strategic behaviour. Economic experiments, especially those conducted in the field, have begun to paint a picture of economic agents in developing...