Policymakers are increasingly interested these days in how they can achieve desired outcomes using 'nudges' - low-cost and non-obtrusive interventions which rely on psychological mechanisms, rather than high-powered economic incentives, to influence people's behaviour. This paper applies the...

Previous studies suggest that two otherwise robust 'anomalies' - preference reversals and disparities between buying and selling valuations - are eroded when respondents participate in repeated markets. We report an experiment which investigates whether this is true when factors neglected in...

The paper reports an experiment which tests the principle of separability, i.e. that behaviour in a dynamic choice problem is independent of history and of unreachable eventualities. Although this is a well-known principle of orthodox decision theory and central to conventional economic...

This paper reports an experiment investigating how different kinds of experience influence the endowment effect. Previous studies have investigated how the endowment effect is influenced by experience gained through repetition of decision problems and trading in natural and experimental markets....