This paper investigates and quantifies citizens' susceptibility to fake news and assesses, using a randomized control trial, the effectiveness of a policy intervention to raise awareness. We find that the average citizen lacks proficiency in identifying fake news and harbors an inflated...

Large Language Models (LLMs) have the potential to profoundly transform and enrich experimental economic research. We propose a new software framework, "alter_ego", which makes it easy to design experiments between LLMs and to integrate LLMs into oTreebased experiments with human subjects. Our...

We survey the recent literature in economics measuring what is on top of people's minds using open-ended questions. We first provide an overview of studies in political economy, macroeconomics, finance, labor economics, and behavioral economics that have employed such measurement. We next...

This paper proposes a method for empirically mapping psychological personality traits to economic preferences. Careful modelling of random components of decision making is crucial to establishing the long supposed but empirically elusive link between economic and psychological systems for...

We explore the role of social capital in the spread of the recent Covid-19 pandemic in independent analyses for Austria, Germany, Italy, the Netherlands, Sweden, Switzerland and the UK. We exploit within-country variation in social capital and Covid-19 cases to show that high-social-capital...

In this paper, we show that the right to determine the sequence of moves in a dynamic team tournament improves the chances of winning the contest. Because studying dynamic team tournaments - like R&D races - with interim feedback is difficult with company data, we examine decisions of highly...

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment with 658 adolescents. In line with theoretical predictions, we find that higher order risk preferences - particularly prudence - are strongly related to adolescents' field...

People differ in their willingness to take risks. Recent work found that revealed preference tasks (e.g., laboratory lotteries) - a dominant class of measures - are outperformed by survey-based stated preferences, which are more stable and predict real-world risk taking across different domains....

We study whether and how parents interfere paternalistically in their children's intertemporal decision-making. Based on experiments with over 2,000 members of 610 families, we find that parents anticipate their children's present bias and aim to mitigate it. Using a novel method to measure...

We survey retail investors at an online bank to study beliefs about the autocorrelation of aggregate stock returns, and how these beliefs shape investment decisions measured in administrative account data. Individuals' beliefs exhibit substantial heterogeneity and predict trading responses to...