We find that large increases in age do not reduce the endowment effect, supporting the hypothesis that people have reference-dependent preferences which are not changed by repeated experience getting and giving up goods.

New experimental economic methods are described and used to assess consumers' willingness to pay for food products that might be made from new transgenic and intragenic genetically modified (GM) traits. Participants in auctions are randomly chosen adult consumers in major US metropolitan...

Heston's stochastic volatility model is frequently employed by finance researchers and practitioners. Fast pricing of European-style options in this setting has considerable practical significance. This paper derives a computationally efficient formula for the value of a European-style put under...

The histograms of interpurchase times for frequently purchased packagedgoods have consistently shown pronounced seven-day cycles. Evidence supports that theweekly spike phenomenon is the result of consumers’ regular shopping trip schedules. Weexplore the implications of this peculiar...