decision. We report results from lab experiments focused on such information-collection processes. We consider decisions … decision accuracies over time. Furthermore, groups using majority rule yield especially hasty and inaccurate decisions …

Many, if not most, personalistic dictatorships end up with a disastrous decision such as Hitler's attack on the Soviet …. Even if the decision is not ultimately fatal for the regime, such as Mao's Big Leap Forward or the Pol Pot …-informed subordinates have no chance to prevent the decision from being implemented. We offer a dynamic model of non-democratic politics, in …

expected utility (GEU) to the diversification of agents who maximize the conventional expected utility (EU). Specifically, we … derive the patterns of diversification for agents who maximize a rank-dependent' expected utility, attaching more weight to … bad' than to good' outcomes, in contrast to the probability weights used in a conventional expected utility maximization …

observed behaviors of the poor. Temptation goods are defined to be the set of goods that generate positive utility for the self …

The possibility that individuals may derive utility from the mere fact of holding wealth has long been recognized. A … simple intertemporal model featuring utility from accumulation is used here to examine consumption and savings, the choice … utility from accumulation helps to explain a number of empirical regularities that otherwise seem inconsistent with optimizing …