as players try to avoid endogenous risk of being excluded from the winning coalitions in the future. We find strong … as a result of more egalitarian sharing than predicted by theory, and therefore, lower risk of being excluded from the …

reduces the variety of independent information sources. We report the results of two experiments, each studying two treatments … experiments reach the same result: in both, delegation rates are unexpectedly high and higher than abstention rates, and LD … simple majority voting. However, even when experts are correctly identified, delegation must be used sparely because it …

pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on … the magnitude and sign of the relative risk premium, holding fixed both the probability that a lottery pays off and the … in which all departures from risk-neutral bidding are attributed to an optimal adaptation of bidding behavior to the …

Employment matches under uncertainty are typically accompanied by opportunities for information acquisition. Workers … can acquire specific information about productivity lotteries at the firm or general information affecting their … probabilistic beliefs about work elsewhere. Enterprises can acquire specific information concerning the productivity of a particular …

role of persistence, information, size and insurability of changes in economic resources. We next examine the empirical … and identify the income process or the information set of the individuals. Second, one can assume that the income process … or the amount of information that consumers have are known and tests the implications of the theory. In general there is …

obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk … deterrent effect under complete information, this does not hold anymore under strategic risk. Rather, we find that increases in … weapon stocks can have a non-monotonic effect on the sustainability of peace. We also show that under strategic risk …