In this paper, we compare how individuals acquire and process information relative to their scientific counterparts. Individuals rely on a heuristic, what we call 'proverbial wisdom', while experts rely on models. We then examine the properties of 'proverbial wisdom' relative to models. As a...

The paper explicates the utilitarian principle of sympathy in terms of the shape of what has been called the 'sympathetic gradient', which determines the allocation of goods to those close by and afar. It examines challenges to the utilitarian impartial weighting scheme that emerged in the...

Experimental economists frequently invoke Adam Smith's notion of sympathy, and experimental treatments typically examine sympathy in situations where two groups are involved. We explore additional implications of sympathy suggested by the work of later classical economists. We link the notion of...