of production which seeks to obtain the highest possible economic return. Our theory comprehends applications to …This paper provides a simple theory of geographical mobility which simultaneously explains people’s choice of …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …

) we vary three payoff indices. Indices of risk and temptation capture the unilateral incentives to defect against … reduces cooperation. In neither study, nor in either subject pool of our second study, do we find a significant effect of risk. …

We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece … rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the … tradeoff between risk and incentives. Subjects in our experiments choose their compensation for performing a real-effort task …