Understanding the value that individuals assign to the protection of their personal data is of great importance for business, law, and public policy. We use a field experiment informed by behavioral economics and decision research to investigate individual privacy valuations and find evidence of...

Most theories of legal discovery assume that the sharing of information among disputing parties will lead to convergence of expectations and facilitate settlement. However, psychological research shows that shared information, if open to multiple interpretations, is likely to be interpreted...

Conflicts of interest can lead experts to give biased and corrupt advice. Although disclosure is often proposed as a potential solution to these problems, we show that it can have perverse effects. First, people generally do not discount advice from biased advisors as much as they should, even...

In this paper, we challenge the conventional view that pain-and-suffering awards should be interpreted literally as a compensation for feelings of pain and suffering. People adapt to conditions as serious as paraplegia and blindness, returning rapidly to near-normal levels of happiness, which...