This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The …

belief about the own rank in a real effort task, and subjects’ risk preferences. In this paper I am able to replicate these … males. Additionally, I show that individual characteristics are more important for the entry decision in more competitive …

In three binary choice problems, people reveal a choice pattern which falsifies expected utility theory and many … Allais paradox challenged neoclassical expected utility theory. …

the question of whether investigating decision making in high stakes environments requires using high stakes. Here we show …-stakes decision making using low-stakes. In particular, we induce preferences such that decisions in a low-stakes environment reflect … interested in studying high-stakes decision behavior without paying high stakes. …

, decision makers often prove to be blind to the learning opportunities offered by uncertain probabilities. They forgo …, many make choices contrary to learning. Priming with optimal strategies offers little improvement. Such decision makers …

The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …