We review experimental evidence collected from risky choice experiments using poor subjects in Ethiopia, India and Uganda. Using these data we estimate that just over 50% of our sample behaves in accordance with expected utility theory and that the rest subjectively weight probability according...

We study how gradualism -- increasing required levels (""thresholds"") of contributions slowly over time rather than requiring a high level of contribution immediately -- affects individuals' decisions to contribute to a public project. Using a laboratory binary choice minimum-effort...

Economic analyses of asymmetric information typically start with the assumption that individuals know more about their own characteristics than outside observers. This assumption implies that individuals can accurately assess their own competence in a given domain. However, individuals can only...