Using the new macro data on risk aversion and patience by Falk et al. (2018), I show that risk aversion and patience are related to intelligence: high-IQ populations are more patient and more risk averse than low-IQ populations. The correlation between patience and intelligence corroborates...

Using the new macro data on risk aversion and patience by Falk et al. (2018), I show that risk aversion and patience are related to intelligence: high-IQ populations are more patient and more risk averse than low-IQ populations. The correlation between patience and intelligence corroborates...

We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...

Using a unique dataset on health club attendance from Quebec, we look at the relationship between actual and expected attendance and how these relate to a reported measure of self-control problems at the time of contract signing. We find that a large majority of contract choices appear...

We review methodological questions relevant for the design of information provision experiments. We first provide a literature review of major areas in which information provision experiments are applied. We then outline key measurement challenges and design recommendations that may be of help...

Is being informed about nudging detrimental to the effect of the nudge? This paper reports results from an experimental study (n = 623) testing the effects of transparency on the effectiveness of a default nudge while controlling for reactance and decision time. Overall, the data show that more...

Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain numerous documented violations of classical...

Procrastination is often attributed to time-inconsistent preferences but may also arise when individuals derive anticipatory utility from holding optimistic beliefs about their future effort costs. This study provides a rigorous empirical test for this notion of 'motivated procrastination'. In a...

To study whether a soft commitment device can help students succeed, we conduct a randomized field experiment and follow a cohort of tertiary students over six years. Students can commit to following their recommended study program structure, and they receive reminders each semester. This easily...

This paper explores how a relational contract establishes a norm of reciprocity and how such a norm shapes the provision of informal incentives. Developing a model of a long-term employment relationship, I show that generous upfront wages that activate the norm of reciprocity are more important...