design an experiment that treats the two goods (a mug and a pen) symmetrically in all but in the probabilities with which … they are expected to be owned. Thus, our "endowmentless" endowment effect experiment shuts down all alternative mechanisms …

endowment effect, but that given the rich psychology behind the effect, a version of the theory that encompasses multiple …

driven by envy even though it generates direct utilitarian gains. That share rises as the role of envy is made more salient …

literature is that market experience is endogenous. This study presents a framed field experiment that exogenously induces market …

fairness. We corroborate the interpretation of our findings with a choice experiment of a costly decision to donate money to a …

to Prospect Theory or Stochastic Reference Dependence …

In discussing the paradoxical violation of expected utility theory that now bears his name, Maurice Allais noted that … insurance relative to the predictions of expected utility theory because as conventionally constructed, insurance offers an … experiment. Given that the potential impacts of insurance for small scale farmers are high, and yet demand for conventionally …

behavioral economics today. This study designs a field experiment that is explicitly linked to a controlled laboratory experiment …-interest theory. In the limit, much of the observed behavior in the marketplace that is consistent with social preferences is due to …

-policy initiatives. The results from one such experiment are presented that suggest the economic concept of inferior goods may be …