reference group. In a novel experiment, I vary whether or not members of a reference group obtain relative performance …

prospect theory and, according to Daniel Kahneman, “the most significant contribution of psychology to behavioral economics …” (Kahneman, 2011, p. 300). It has powerful implications for decision theory and has been fruitfully applied in many subfields of …

liquidation costs. In particular, in our model ambiguity aversion is observationally equivalent to increased risk aversion. This …

How can naivete about present bias persist despite experience? To answer this question, our experiment investigates …

between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … incorrect identification strategies. We conduct an experiment to investigate the factors that drive violations of consistency …