This paper examined whether people gained significant emotional benefits from not engaging in emotional hedging – betting against the occurrence of desired outcomes. Using the 2018 FIFA World Cup as the setting for a lab-in-the-field experiment, we found substantial reluctance among England...

Assuming that an individual's rank in the wealth distribution is the only factor determining the individual's wellbeing, we analyze the individual's risk preferences in relation to gaining or losing rank, rather than the individual’s risk preferences towards gaining or losing absolute wealth....

Studying competitiveness and risk-taking among Jeopardy! contestants in the US, this paper analyzes whether and how gender differences emerge with age and by gender of opponent. Our samples contain 186 children (aged 10–12), 310 teenagers (aged 13–17), and 299 undergraduate college students....

In contrast to the popularity of financial education interventions worldwide, studies on the economic effects of those interventions report mixed results. With a focus on the effect on disadvantaged groups, we review both the theoretical and empirical findings in order to understand why this...

This paper presents the results of an experiment that is designed to examine how information presentation and complexity impact retirement-savings behavior. The experiment is performed twice, using both a Qualtrics panel of new employees and a sample of business school students. In this...

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...

This study aims to fill the gap in our understanding about exposure to particulate matters with diameter less than 2.5 μm (PM2.5) and attributable risks and economic costs of mental disorders (MDs). We identify the relationship between PM2.5 and risk of hospital admissions (HAs) for MDs in...

This paper presents evidence suggesting men's (but not women's) risk and time preferences have systematically become sensitive to local economic conditions since the 2008 financial crisis. Studying longitudinal, nationally representative data for 22,579 Australian-based respondents in up to 11...

Although the gender gap in entrepreneurs' success rates to secure funding is staggering, we know little about its causes. This is because observing both sides of investor-entrepreneur interactions (especially for unsuccessful pitches) is difficult in reality, and the associated extraordinary...

In a finitely repeated game with asymmetric information, we experimentally study how individuals adapt the nature of their lies when settings allow for reputation-building. While some lies can be detected ex post by the uninformed party, others remain deniable. We find that traditional market...