. 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 …

heritage. Evaluators made decisions on guilt/innocence in these burglary and assault cases, as well as prison sentence length … towards defendants of their own race during the guilt-innocence decision. In the sentencing phase, we find in-group bias in … identifies such opposing effects of bias within the same decision sequence. Regarding overall racial bias, we document that …

Algorithms increasingly assist consumers in making their purchase decisions across a variety of markets; yet little is … consumer choice among complex financial products using data from a randomized, controlled trial of decision support software … to participate. A model of consumer decision-making suggests that our intervention affected consumers' signals about both …

. New artificial intelligence (AI) technologies are increasingly being used to augment expert decisions. We study the role …-optimal. Our analysis leverages the large-scale implementation of an AI-based decision support tool in a private Medicare exchange … consumers $1260 on average. The addition of AI-based decision support improves outcomes by $278 on average and substantially …

Jobs increasingly require good decision-making. Workers are valued not only for how much they can do, but also for … variation in the ability to make good decisions about resource allocation, which we call allocative skill. We begin with a model … conditional on IQ, numeracy, and education, and the return to allocative skill is greater in decision-intensive occupations …

one million decisions in 11,000 unique experimental choice problems. Complexity makes choices substantially noisier, which …

A choice-theoretic model of household decision-making with respect to care-giving time allocations and the use of …

contract be made. This paper analyzes decisions to invest in pre-contractual reliance under alternative legal regimes … how 'intermediate' liability rules could be best designed to induce efficient reliance decisions. One of our results … parties' decisions to enter into contractual negotiations …

This paper investigates whether peer effects play an important role in retirement savings decisions. We use individual … data from the staff of a university to study whether individual decisions to enroll in a Tax Deferred Account plan … decisions of other employees in the same department. To overcome the identification problems, we separate the departments into …