Sanction opportunities are often introduced to promote cooperative choice behavior. Experimental studies have repeatedly demonstrated that the use of both rewards and punishments can indeed effectively increase cooperation. However, research has only recently begun to identify the determinants...

People sometimes choose between options associated with already-missed and to-be-missed counterfactuals, or put differently, between past and future regret. We find that these objectively irrelevant associations systematically sway peoples’ choices. Results show participants prefer options...

People often observe others’ decisions and the corresponding time it took them to reach the decision. Following a signaling perspective, we demonstrate that people derive information from the time that others needed in reaching a decision. Specifically, the findings of multiple experiments and...