. In this paper, we explore the consequences of improved prediction in decision-making. To do so, we adapt existing models … of decision-making under uncertainty to account for the process of determining payoffs. We label this process of … on whether the improvements in prediction enable automated decision-making. We discuss the implications of improved …

In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the …

Traditional economic models of vaccination assume that agents free-ride on the vaccination decision of others. These …

-inconsistency strengthen the normative appeal of the active-decision enrollment regime. However, financial illiteracy favors default enrollment … over active decision enrollment …