Abstract We specify and estimate an econometric model which separately identifies the effects of distributional preferences and penalizing unfair proposer behavior ("perceived intentions") on responder decisions in the ultimatum game. We allow the effects of perceived intentions to depend, among...

We develop a panel data model of expectations of a continuous outcome variable elicited on a percentage-chance scale. The model explains the location and dispersion of the subjective distributions by socio-economic covariates and unobserved factors. Moreover, it accounts explicitly for...

Euler equation estimation of intertemporal consumption models requires many, often unverifiable assumptions. These include assumptions on expectations and preferences. We aim at reducing some of these requirements by using direct subjective information on respondents' preferences and...