What is the best way to reward innovation? While prizes avoid deadweight loss, intellectual property selects high social surplus projects. Optimal innovation policy thus trades off the ex-ante screening benefit and the ex-post distortion. It solves a multidimensional screening problem in the...

The question of how to measure and classify people's risk preferences is of substantial importance in the field of Economics. Inspired by the multitude of ways used to elicit them, we conduct a holistic investigation of the most prevalent method, the multiple price list (MPL) and its...