This study compares individual preferences across incentives (i.e., hypothetical vs. real incentives) and over time (i.e. elicitation at two different points in time) in a choice experiment involving charitable donating decisions. We provide evidence of hypothetical bias but little evidence of...

We study learning in a decentralized pairwise adverse selection economy, where buyers have access to the quality of traded goods but not to the quality of non- traded goods. Buyers categorize ask prices in order to predict quality as a function of ask price. The categorization is endogenously...

A micro decision-making utility model under uncertainty is presented as a complementary foundation for macro coronavirus models. The micro model consists of two functions, a risk averse utility function depending on wellness and a wellness random output which is a function of the input variable...

Surveys and opinion polls are essential instruments to elicit societal preferences and uncover differences between socioeconomic or demographic groups. However, survey data is noisy, and survey bias is ubiquitous, limiting the reliability and usefulness of standard analyses. We provide a new...

This paper develops two straightforward value of life models; one is a probabilistic value of life model and the second is a determinstic value of time model. Simplifying assumptions allow both models to be solved analytically. Constant relative risk aversion utility functions are used, and both...

Carroll and Kimball (1996) prove that the consumption function is concave if infinitely-lived risk-averse households have a utility function which exhibits Hyperbolic Absolute Risk Aversion (HARA), face income uncertainty, and are prudent. However, the empirical evidence is inconclusive about...

Since the sinking of the Titanic, there has been a widespread belief that the social norm of 'women and children first' gives women a survival advantage over men in maritime disasters, and that captains and crew give priority to passengers. We analyze a database of 18 maritime disasters spanning...

In this paper it is shown that the core and the bargaining sets of Davis-Maschler and Zhou coincide in a class of shortest path games.

Drawing broadly on the literature on the political economy of the financial crisis, the paper looks at deregulation as a market driven process that culminated in a collective action failure. In the run up to the 2008 Financial Crisis strong competition and moral hazard went hand in hand and that...