We conduct a laboratory experiment where third-party spectators can redistribute resources between two agents, thereby … inequalities, but many follow an interior allocation rule previously unaccounted for by the fairness views in the literature. These …

trade. Utility-maximizing agents opt between careers in specialized production and careers in predation. Three types of …

trade expansion. Specifically, we present a stages-of-growth model in which the four phenomena are jointly endogenous and …

The paper demonstrates how trade between developing countries can cause the divergence of long-run growth among these … trade occurs at any moment if the countries have different numbers of intermediate varieties. The country with a larger …

Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we … population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able … to generate both negative and positive correlations between risk aversion and cognitive ability. Structural estimation …

We study risk taking on behalf of others, both with and without potential losses. A large-scale incentivized experiment … others are more risky. Using structural estimation, we show that this increase in risk stems from a decrease in loss aversion …