the spot rate. We use the surveys to decompose the bias into a protion attributable to the risk premium and a portion … attributable to systematic prediction errors. The survey data suggest that our findings of both unconditional and conditional bias …

The theory of expected utility maximization (EUM) explains risk aversion as due to diminishing marginal utility of … need for a nonlinear utility-of-wealth function, and instead results from a sort of perceptual bias -- but one that … numerical cognition, and test its ability to explain the choice frequencies that we observe in a laboratory experiment …

We investigate the existence of in-group bias (preferential treatment of one's own group) in court decisions. Using the … to judges, we find evidence for negative racial in-group bias in judicial decisions. All else the same, black (white … of negative in-group bias, based on a randomization design outside of the lab. Explanations for this finding are provided …

evidence consistent with an availability bias. Adverse market events made salient by financial press are associated with higher …

This paper quantifies the amount of noise and bias in analysts' forecast of corporate earnings at various horizons. We … next decompose the relative accuracy of these forecasts into three components: (i) noise, (ii) bias and (iii) analysts … both noise and bias are increase linearly. We then show most existing models lack a mechanism to account for these facts …

This paper considers causal inference and sample selection bias in non-experimental settings in which: (i) few units in …-treatment characteristics. We propose the use of propensity score matching methods and implement them using data from the NSW experiment … and compare the estimates of the treatment effect obtained using our methods to the benchmark results from the experiment …

This paper develops and applies semiparametric econometric methods to estimate the form of selection bias that arises … econometric selection model which represents the bias solely as a function of the probability of participation; and (c) the method … of difference-in-differences. Using data from an experiment on a prototypical social program combined with unusually rich …

. We use a survey experiment to generate direct evidence on how people acquire and process information, in the context of …