Evidence from five general-interest journals in economics reveals an inverse relationship between author seniority and the number of colleagues whom authors choose to thank and acknowledge. The large seniority effect is insensitive to the inclusion of controls for the number of co-authors,...

Evidence from five general-interest journals in economics reveals an inverse relationship between author seniority and the number of colleagues whom authors choose to thank and acknowledge. The large seniority effect is insensitive to the inclusion of controls for the number of co-authors,...

Bank customers are not financial experts, and yet they make high-stakes decisions that can substantively affect personal wealth. This raises questions about how non-experts actually make financial decisions. How do investors search for information? How does the information they look up map into...

Is it better to apply effort to increase personal consumption, or control what one wants? The model presented here provides a characterization of demand for self control, namely, its responsiveness to price and risk. Unlike most other models of self control, the model does not identify self...

This paper proposes a new statistical technique for deciding which of two theories is better supported by a given set of data while allowing for the possibility of drawing no conclusion at all. Procedurally similar to the classical hypothesis test, the proposed technique features three, as...

Given free information and unlimited processing power, should decision algorithms use as much information as possible? A formal model of the decision making environment is developed to address this question and provide conditions under which informationally frugal algorithms, without any...

There is compelling evidence that typical decision-makers, including individual investors and even professional money managers, care about the difference between their portfolio returns and a reference point, or benchmark return. In the context of financial markets, likely benchmarks against...

This paper analyzes housing price dynamics in and outside of Telecom Corridor, a region near Dallas, Texas, with a high concentration of new economy firms. Using separate home price indexes in and outside this region, the paper tests whether home values are more volatile in the new economy area...

This paper addresses the question of whether the findings of behavioral economics imply that techniques used in cost-benefit analysis should be modified. The findings of behavioral economics considered include the status-quo effect, loss-aversion, overconfidence and hyperbolic discounting. These...

This paper presents a simple model in which research universities stock their libraries with academic journals by picking a threshold level of quality below which no subscriptions are ordered. This framework is used to analyze two sets of initiatives aimed at dealing with journal-price...