This paper studies the relationship between patience and comparative development through a combination of reduced … sets of stylized facts. First, patience is strongly correlated with per capita income and the accumulation of physical …. Second, the magnitude of the patience elasticity strongly increases in the level of aggregation. To provide an interpretive …

Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared … educational choice, which involves the comparison of risky future income paths and therefore depends on risk and time preferences …. In contrast to experimental settings, educational choice is one of the most important economic decisions taken by …

I show theoretically that applying the model of Köszegi and Rabin (2006) to a simple purchasing decision where … consumers are ex-ante uncertain about the price realisation, gives - when changing the underlying distribution of expected … underlying ideas of both models are similar with respect to expectation-based reference points, the different results come from …

Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large …-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion … coefficient reported during the past couple of decades. We examine 607 empirical estimates of loss aversion from 150 articles in …

an isomorphic loss contract. Our results show that loss contracts reduce the minimum efforts of groups and worsen …In this paper we study the effects that loss contracts - prepayments that can be clawbacked later - have on group … coordination when there is strategic uncertainty. We compare the choices made by experimental subjects in a minimum effort game. In …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If … the buyer can specify the main characteristics of possible design improvements in a complete contingent contract, a … scoring auction implements the efficient allocation. If this is not feasible, the buyer must choose between a price …

field environment of decision making under uncertainty. Furthermore, the degree of loss aversion appears to be persistent … perform worse in the multiple-choice exam when giving an incorrect answer is penalized compared to not answering. We provide … over time, as the experiment was conducted three months prior to the exam. We also find important differences across …

Extensive evidence suggests that participants in the direct student-proposing deferred-acceptance mechanism (DSPDA … schools. To explain the observed data, we introduce expectationbased loss aversion into a school-choice setting and …. To level the playing field, we propose serial dictatorship mechanisms as a strategyproof and stable alternative that is …

step, we derive a revenue equivalence principle. Fixing the multi-stage structure, the revenue is independent of the chosen … compared to any single-stage auction. Finally we derive the optimal efficient two-stage mechanism. …