A revised model of the preference function is presented incorporating utility maximizing acts of material self-sacrifice. This model incorporates neoclassical and behavioral arguments, allowing for the stylized fact that economic agents are motivated by both material and non-material incentives....

A revised model of the preference function is presented incorporating utility maximizing acts of material self-sacrifice. This model incorporates neoclassical and behavioral arguments, allowing for the stylized fact that economic agents are motivated by both material and non-material incentives....

The validity of most axioms which underlie the expected utility model has been the object of intense empirical testing. These include the independence, betweenness, transitivity, monotonicity, reduction, and non-satiation axioms. The sole, present-day test for the non-satiation axiom is...

An important concern of experimenters is that instructorsʹ nonverbal cues might change subject behavior. We let a professional actor try to produce this bias on purpose, finding only weak evidence for an "instructor demand effect", and only for female subjects.

This paper develops a spatial model to analyze the stability of a market sharing agreement between two firms. We find that the stability of the cartel depends on the relative market size of each firm. Collusion is not attractive for firms with a small home market, but the incentive for collusion...

This study uses a new nationally representative dataset (National Financial Capability Study, 2009) to examine the association between individuals' financial literacy and their high-cost borrowing decisions. The results indicate that financial literacy is indeed negatively associated with...

The aim of this short paper is to empirically test the key hypothesis of the ‘slippery slope' framework, namely: (1) trust (in) and power (of) tax authorities are both necessary to guarantee a high level of tax compliance; (2) the interaction between trust and power, as well as voluntary tax...

In the analysis of group identification, Kasher and Rubinstein (1997), Logique Analyse 160, 385-395, have shown that any method to aggregate the opinions of a group of agents about the individuals in the group that posses a specific attribute, such as race, nationality, profession, etc., must be...